Tech leaders are helping to crack key world problems by 2030
Hewlett Packard Enterprise wants to solve some of the world’s most important problems through a new initiative that encourages other organizations to join the company to work on related social, cultural, economic, and environmental challenges.
The focus is on making major improvements in several areas by 2030, addressing what it’s going to take, how industries will transform, and what roadmap needs to be in place to address the targeted global problems.
One thing is for certain: The goals are meant to be achievable. “When it comes to technology, there are endless promises and moonshot projects that shape our collective view of the future,” says Mark Potter, chief technology officer and director of Hewlett Packard Labs. “But how many of them are realistic?”
The world is changing at breakneck speed, and technology can be used to improve people’s lives. Even casual observers can hear the drumbeat: cashless economies, robot workforces, driverless cars, and hurtling through a tube at 500 mph. Today, each stands on the precipice of adoption.
HPE will work with several partners, including the World Economic Forum, to achieve the goals of this ambitious initiative which has several components focused on financial services, healthcare, transportation, and manufacturing. Opportunities identified include more secure financial services for consumers, using blockchain and other technologies.
As we wait for more to come on this exciting new initiative, here are trends making sweeping changes as covered on enterprise.nxt.
The banking industry is changing how people access and spend money. More secure financial transactions are at the crux.
Bitcoin, the talk of Wall Street for most of 2018, has experienced a dramatic rise and, most recently, a precipitous fall—as have most other digital cash alternatives. But what is its long-term future? The jury is somewhat divided. Some executives interviewed would be surprised if cryptocurrencies make up more than 5 to 10 percent of the market by 2030.
Why discuss cryptocurrencies at all? Because of the underlying technology that powers them—blockchain—and its potential to virtually eliminate fraud.
Read how to make the case for blockchain. Experts weigh in on Bitcoin, blockchain, and the challenges blockchain faces as it expands its reach into the enterprise. Then read "Blockchain: Prep starts now; adoption comes later."
Other financial service trends to watch between now and 2030:
- The economy goes cashless: The general consensus is that 80 percent of U.S. transactions will be cashless by 2030.
- Robo-advisors and artificial intelligence become commonplace as a majority of consumer-facing bank roles are eliminated.
Consumers want customization, and that requires vertical integration. Technology will revolutionize manufacturing by enabling “mass customization” of products. Using the Internet of Things, 3D printing, and artificial intelligence, manufacturers will be able to create perfect parts, even in small batches, with the same degree of automation and efficiency as in mass production.
For manufacturing in general, a prerequisite of mass customization is “vertical integration,” or a convergence of operational technology (OT) and IT systems and processes. Convergence of the two is one of the most important issues in manufacturing today. However, some industry leaders forecast successful vertical integration will be limited to large enterprises in the shorter term and take beyond 2030 for smaller firms to implement.
Read what happens when OT and IT collide, and how to manage convergence on the industrial edge.
IoT is on fire
Then there’s IoT, which is on its way to full integration into the sector. The next phase may be identifying where the technology might benefit from advanced development of analytics. Here’s how one company is leveraging IoT technologies to change the way it does business.
A shortage of skilled workers looming
Labor shortages could bring manufacturing back to the United States. The numbers are startling: 2.7 million, or 22 percent, of U.S. skilled manufacturing workers are retiring over the next decade, according to Deloitte. This comes at a time when the manufacturing industry needs to add 700,000 skilled employees. Thus, the industry will face a massive shortfall of 2 million workers. The Bureau of Labor Statistics adds that to achieve economic growth, the United States will need 3 million more workers in the next 10 years to fill low-skilled jobs. Given these stark realities, U.S. manufacturers will likely rely heaviest on automation to make up for the shrinking workforce.
Experts see huge opportunities for technology that improves patient outcomes by harnessing and consolidating data.
Monitoring someone’s health may no longer require extended hospital stays or invasive testing as healthcare and IoT find common ground ranging from wearables to ingestibles to automated linking between symptom management and environmental monitoring. Taking a broad, holistic approach to understanding a patient’s needs and behaviors allows for a more effective and successful range of treatments. Look inside healthcare’s digital future
The current state of drug development is a lengthy, expensive process and, to a certain extent, a shot in the dark. Only one out of thousands of potential compounds make it through the research, trial, and review pipeline to be approved by the U.S. Food and Drug Administration and move into large-scale manufacturing.
The cost of developing a single drug is staggering. A study by the Tufts Center for the Study of Drug Development found that it costs more than $2.5 billion to develop a drug. Other estimates put it higher: $4 billion, or even as high as $11 billion. But AI, cloud computing, IoT, and big data are all reducing the cost and time it takes to develop and distribute new, highly effective medications. Read about faster drug discovery with AI and big data.
Precision medicine will also change the way medicine works. Learn how rapid gene sequencing is on the verge of making medical treatment dramatically more personalized and potentially more effective.
Cities’ existing infrastructure must change to support transportation demands as people move to urban areas. The upside includes easier and greener commutes, safer driving, and more access to travel. Among the trends-to-be:
Intermodal mobility: The vision of intermodal transport is to enable a seamless integration among the different modes of transportation. Travelers should be guided through the optimal mix of modes—from any point A to any point B, at any time. So where are things really headed? Some futurists say intermodal will take off in passenger transportation, but there is still a lot of work to do. Others don’t see full integration in the United States until 2040 or later.
Vehicle-to-everything (V2X): Autonomous vehicles get all the attention, but in the next several years, the experience of driving will change in many other ways. V2X is a technology that allows vehicles to communicate with other vehicles, as well as the surrounding traffic system: streetlights, buildings, and even cyclists or pedestrians. Read about the car of tomorrow under the hood.
But before these vehicles can transform our roads, self-driving cars need rules. How can we formulate regulations for a technology that doesn't fully exist yet? Here's how to make self-driving cars safe.
Car and ride sharing: The car-sharing market is expected to see year-over-year growth of 35 percent, with collective revenue of $16.5 billion by 2024, according to Global Market Insights. In fact, a new study by a Stanford University professor predicts that private car ownership will drop by 80 percent by 2030.
Innovations in public transport: Few subjects in public transport ignite more excitement than high-speed rail and hyperloop, but which one has a brighter future? In Europe and Asia, where the government takes a highly active role in transportation, high-speed rail is witnessing strong growth. Even autonomous trains now exist in places like Copenhagen and Vancouver. In the United States, it’s more complicated.
Some industry watchers are more optimistic about hyperloop, because it does not have the infrastructure challenges of high- speed rail. Expect a prototype of Elon Musk’s futuristic sonic vision in as soon as five years and potentially wide adoption by 2030.
Source: Material excepted from “Future:Now” industry pulse.
This article/content was written by the individual writer identified and does not necessarily reflect the view of Hewlett Packard Enterprise Company.