Rapid Technological change - profound implications
The exponential rate of technological change is going to have profoundj implications for our society, our way of life, employment (or not) cost of living - every dimension of human life.
One of the things I worry about is that this profound change is happening much faster than the industrial revolution (https://en.wikipedia.org/wiki/Industrial_Revolution , http://history-world.org/Industrial%20Intro.htm ). During the industrial revolution, the rate of change was slow enough to allow displaced workers to find jobs in other areas. This technological revolution is happening so fast, and is displacing jobs across such a huge spectrum, that I suspect new jobs may not be created fast enough to absorb displaced workers. In fact there is a real possibility that in 20 or 30 years time, 50% of people may be unemployed ... though it might be 80% unemployed. The fundamental business models of government may have to change drastically.
From an investment perspective, one major aspect of technological change is disruption. Technological change can mean that well-established (even dominant) global companies might find their business models destroyed in a few short years. Therefore, investors must be vigilant to the implications of technological change - both in destroying the value of companies that investors might have invested in, and also is creating investment opportunities in
So this web page is intended to document some of these elements of technological change.
Much of this technological change is coming from a combination of range of rapidly fast-developing technologies. However, I will seek to provide references to separate dimensions of these changes.
Some papers I wrote for clients in 2015 are here.
A presentation by David Brown on the 3rd Industrial Revolution - that we are in.
Magellan Asset Management - "The Technological Arms Race", pages 2 through 7. Good summary.
For more infomation: