The Industries of the Future | Alec J. Ross

Summary of: The Industries of the Future
By: Alec J. Ross

Introduction

As we stand on the cusp of unparalleled innovation, Alec J. Ross, in ‘The Industries of the Future,’ explores the exciting prospects and challenges that lie ahead. Delve into the world of cloud robotics and its potential to replace human jobs, uncover how the field of genomics paves the way for better prevention and treatment of diseases, and examine alternative payment systems like M-Pesa. Ross also offers insight into the burgeoning cybersecurity sector and emphasizes the importance of supporting professions as key components in maximizing the potential of big data. Finally, learn how fostering openness in society contributes to nurturing innovation and empowering young people and women.

Robots and the Future of Jobs

The rise of cloud robotics has enabled robots to learn and grow faster, putting many jobs at risk of automation. While robots offer lower prices and higher efficiency, the income gap will widen without governmental intervention to redistribute savings into social-safety nets, education, and skill training for the displaced workforce.

The Power of Genomics in Healthcare

The field of genomics, which involves the sequencing of human DNA, has significantly advanced since the early 2000s. With the development of new technologies, genomics has become an essential tool in the early detection and treatment of diseases such as cancer. For instance, liquid biopsy and other mobile-based programs have helped detect cancer at stage 1, increasing the cure rate for patients. Similarly, smartphone-based programs connect patients to doctors and other specialized health-care workers to provide diagnoses and monitor the progress of treatment, particularly in the developing world. These advancements in genomics have provided better prevention and treatment approaches to diseases, reducing the cost of healthcare.

The Future of Payments

In the near future, you might only need a cell phone and a key before leaving your house. The overpriced credit-card technology isn’t sustainable, taking away a significant portion of profits. To circumvent this, alternative forms of payment are emerging, such as M-Pesa, a payment system that uses mobile phones, and Bitcoin. Kenya developed M-Pesa, which allows money transfer by sending a text message, and it has spread to 45 other countries. About 25% of Kenya’s GDP is through M-Pesa. Bitcoin, on the other hand, sends encrypted messages and is safe to use, enabling simple, faster payments. These alternative payment solutions replace the traditional methods and give rise to more local businesses, such as Airbnb and Uber.

The Importance of Cybersecurity

Today, data is being collected and stored more than ever before, with private companies maintaining around 75,000 data points about the average American consumer. The Internet of Things only adds to this number. Despite the lack of control over one’s own data, individuals, companies, and governments need to be aware of what data they are making accessible, as cyber attacks are a threat to all. Practically every business that shares information depends on data technology, making them prime targets for criminals and enemies. The demand for cybersecurity is henceforth increasing as the potential for destructive use of data grows.

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