Key Tech Trends Impacting Risk Management

Key Tech Trends Impacting Risk Management

In an article by Risk Management Magazine, notable entrepreneur and futurist Peter Diamandis discussed the rapid adoption and evolution of new technologies, and key trends impacting risk management, including AI‘s longevity across industries such as machine learning, robotics, and healthcare.

Diamandis outlined five key technological meta-trends impacting the next six years:

• Ubiquitous Communications and Sensors: Diamandis highlighted the surge in energy abundance and connectivity, with technologies like SpaceX satellites delivering global gigabit speeds and the forthcoming 6G network, which promises speeds 100 times faster than 5G, enabling unprecedented data access and communication.
• The Growth of AI: AI is experiencing rapid growth due to four factors: doubling of computational power and global data every two years, a 99.5% reduction in AI training costs over five years, and increased capital investment. Diamandis stressed that future business survival depends on full AI utilization.
• Robotics: Advancements in AI are propelling the robotics industry, with the potential for robots to handle household chores. Diamandis quoted Vinod Khosla, predicting a billion bipedal robots within 25 years, significantly boosting GDP, productivity, and human well-being by creating value to support displaced workers.
• Autonomous Transport: Autonomous electric vehicles from companies like Lyft, Alphabet, and Uber are being deployed, along with electric air taxis and drone deliveries, promising efficient, rapid transit and delivery solutions.
• Longevity and Health Span: Diamandis foresaw a revolution in healthspan driven by AI, quantum technologies, biotech, and diagnostics. He predicted lifespan extensions to 150 years, aging reversal, organ regeneration, and preemptive problem identification, marking an extraordinary era in human history.

For risk management professionals, these insights underline the need to anticipate and adapt to rapid technological advancements, ensuring strategic planning and investment to leverage these transformative trends.