WELCOME TO TOMORROW

WELCOME TO TOMORROW 

August 2019

We’re sure we’re not alone when it comes to how daunting the rapid changes are in our life and in business. It’s all astounding when you think about it. Take a look at some of the predictions that are right over the horizon…

Auto repair shops will disappear.

Electric engines
A gas/diesel engine has 20,000 individual parts. An electrical motor has 20. Electric cars will be sold with lifetime guarantees and only repaired by dealers. It will take only 10 minutes to remove and replace an electric motor.
  
Gas pumps will go away.

Street corners will have meters that dispense electricity. Companies will install electrical recharging stations; in fact, they’ve already started doing so in the developed world.
 
Coal industries will go away. 

Gasoline/oil companies will go away. 

Drilling for oil will stop. So, say goodbye to OPEC! 

Homes will produce and store more electrical energy during the day than they will use and will sell it back to the grid. The grid will store it and then dispense it to industries that are high electricity users. Has anybody seen the Tesla roof?

A baby of today will only see personal cars in museums.

In 1998, Kodak had 170,000 employees and sold 85% of all photo paper worldwide. Within just a few years, their business model disappeared, and they went bankrupt. Who would have thought of that ever happening? What happened to Kodak and Polaroid will happen to a lot of industries in the next 5-10 years … and most people don't see it coming. 

Did you think in 1998 that 3 years later, you would never take pictures on film again? With today’s smart phones, who even has a camera these days?
  
Software has disrupted our world in ways we never would have imagined. UBER is just a software tool; they don't own any cars and are now the biggest taxi company in the world! Ask any taxi driver if they saw that coming. Airbnb is now the biggest hotel company in the world, although they don't own any properties. Ask Hilton Hotels if they saw that coming.

Computers are becoming exponentially better in understanding the world. This year, a computer beat the best Go-player in the world, 10 years earlier than expected. In the U.S., young lawyers are already having a hard time finding jobs. Why? Because with options like IBM's Watson, you can get legal advice (the basic stuff right now) within seconds, with 90% accuracy compared with 70% accuracy when done by humans. So, if you study law, stop immediately. There will be 90% fewer lawyers in the future – what a thought!  Only omniscient specialists will remain. Watson already helps diagnose cancer 4 times more accurate than human nurses.

Facebook now has a pattern recognition software that can recognize faces better than humans. 

In 2030, computers will become more intelligent than humans.

And what about autonomous cars? In 2018 the first self-driving cars arrived, and already the entire industry is being disrupted. You won't want to own a car anymore as you will call a car with your phone, it will show up at your location and drive you to your destination. You will not need to park it; you will only pay for the driven distance and you can be productive while driving. 

The very young children of today will never get a driver's license and will never own a car. This will change our cities, because we will need 90-95% fewer cars. We can transform former parking spaces into green parks. About 1.2 million people die each year in car accidents worldwide including distracted or drunk driving. We now have one accident every 60,000 miles; with autonomous driving that will drop to 1 accident in 6 million miles. That will save a million lives plus worldwide each year.

Most traditional car companies will doubtless become bankrupt. They will try the evolutionary approach and just build a better car, while tech companies (Tesla, Apple, Google) will do the revolutionary approach and build a computer on wheels. Look at what Volvo is doing right now; no more internal combustion engines in their vehicles starting this year with the 2019 models, using all electric or hybrid only, with the intent of phasing out hybrid models. Many engineers from Volkswagen and Audi are completely terrified of Tesla and they should be. Look at all the companies offering all electric vehicles. That was unheard of only a few years ago.

Insurance companies will have massive trouble because, without accidents, the costs will become cheaper. Their car insurance business model will disappear.

Real estate will change. Because if you can work while you commute, people will abandon their towers to move far away to more beautiful affordable neighborhoods.

Solar production has been on an exponential curve for 30 years, but you can now see the burgeoning impact. And it’s just getting ramped up. No doubt fossil energy companies are desperately trying to limit access to the grid to prevent competition from home solar installations, but that simply cannot continue - technology will take care of that strategy. 

Health
The Tricorder X price will be announced this year. There are companies who will build a medical device (called the "Tricorder" from Star Trek) that works with your phone, which takes your retina scan, your blood sample and you breath into it. It then analyses 54 biomarkers that will identify nearly any Disease. There are dozens of phone apps out there right now for health purposes!

WELCOME TO TOMORROW

Some of it actually arrived a few years ago. It’s pretty daunting…and pretty cool…and pretty scary, all at the same time.  What a time to be alive, right?  What do you think?

The 78Madison Team
78Madison is a full-service marketing communications firm – advertising agency – that works hard at staying ahead of the curve for today and tomorrow. Located in Orlando, Florida (Altamonte Springs, Florida), we invite you to start a conversation

Discussion

Submitted by David Parkinson (not verified) on Thu, 08/15/2019 - 12:31

Toyota is still planning for hydrogen over electric. Their main problem will be delivery infrastructure i.e. gas stations.

Submitted by 78madison (not verified) on Tue, 08/20/2019 - 10:01

It will be fascinating to see who will win the battle. Will Tesla be around for the long haul? Along with Toyota, Honda and Hyundai are also rolling out vehicles that will run on Hydrogen. Right now most of the fueling stations are in California.

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