The Future Is Faster Than You Think: How Converging Technologies Are Transforming Business, Industries, and Our Lives
by Peter H. Diamandis
In "The Future Is Faster Than You Think," Peter H. Diamandis explores the rapid convergence of technologies and their transformative impact on business, industries, and everyday life. Central to his message is the idea that organizations must embrace disruptive business models rather than solely focusing on new products for growth. Diamandis emphasizes the exponential rate of technological advancement, predicting that we will experience the equivalent of twenty thousand years of change over the next century, reshaping various sectors from transportation to insurance. Key themes include the "Transformation Economy," where consumers pay for life-changing experiences, and the concept of the "Six Ds of Exponentials," which outlines the growth cycle of technologies,starting from digitalization to democratization. The author highlights the increasing role of artificial intelligence in influencing consumer choices and the democratization of advanced technologies, making them accessible to a broader audience. Diamandis also discusses the importance of urban density in fostering innovation and economic productivity, predicting that cities will continue to be hubs of growth. He warns that neglecting technological adaptation could leave many companies obsolete in the near future. Ultimately, the book paints an optimistic picture of a future rich in opportunities, where advancements lead to improved quality of life and increased access to essential resources for all.
6 popular highlights from this book
Key Insights & Memorable Quotes
Below are the most popular and impactful highlights and quotes from The Future Is Faster Than You Think: How Converging Technologies Are Transforming Business, Industries, and Our Lives:
Most [organizations] think the key to growth is developing new technologies and products. But often this is not so. To unlock the next wave of growth, companies must embed these innovations in a disruptive new business model.
Ray Kurzweil did the math and found that we’re going to experience twenty thousand years of technological change over the next one hundred years.
The first real threat it faced, today’s ridesharing model, only showed up in the last decade. But that ridesharing model won’t even get ten years to dominate. Already, it’s on the brink of autonomous car displacement, which is on the brink of flying car disruption, which is on the brink of Hyperloop and rockets-to-anywhere decimation. Plus, avatars. The most important part: All of this change will happen over the next ten years.
Take the New York–based Lemonade, arguably the best funded of today’s crowdsurance startups. Via an app, Lemonade brings together small groups of policyholders who pay premiums into a central “claim pool.” Artificial intelligence does the rest. The entire experience is mobile, simple, and fast. Ninety seconds to get insured, three minutes to get a claim paid, and zero paperwork. Adding more technology to this arrangement, companies like the Swiss firm Etherisc sell “bespoke insurance products” on the Ethereum blockchain. Because smart contracts remove the need for employees, paperwork, and all the rest, all sorts of new insurance products are being created. Etherisc’s first offering is something not covered by traditional insurers: flight delays and cancellations. Individuals sign up via credit card, and if their plane is more than forty-five minutes late, they’re paid instantly, automatically, and without the need for any paperwork.
The Law of Accelerating Returns,” Ray Kurzweil did the math and found that we’re going to experience twenty thousand years of technological change over the next one hundred years. Essentially, we’re going from the birth of agriculture to the birth of the internet twice in the next century. This means paradigm-shifting, game-changing, nothing-is-ever-the-same-again breakthroughs—such as affordable aerial ridesharing—will not be an occasional affair. They’ll be happening all the time. It
We’re heading toward a future where AI will make the majority of our buying decisions, continually surprising us with products or services we didn’t even know we wanted. Or, if surprise isn’t your thing, just turn that feature off and opt for boring and staid. Either way, it’s a shift that threatens traditional advertisers, while offering considerable benefits to the consumer.
