Exponential Technologies Explained (11 examples)



hi and welcome to another edition of strategic business insights today we're going to talk about exponential technologies what are exponential technologies well we're talking about technologies that are scaling up by orders of magnitude in other words we're not going from 1 to 2 to 3 to 4 to 5 we're going from 1 to 2 to 4 to 8 to 16 so in other words there's an acceleration there's an exponential increase in their capacity so you may have heard of Moore's law moore's law refers primarily to data processing but again it's it's this exponential nature of the growth rate so they it tends to double roughly every two years the capacity of data processing but it turns out that data processing is only one of many in fact just within the realm of data you have data processing data bandwidth and data storage which are all increasing along this exponential curve so data processing we're talking about like for example the IBM Watson computer you may have heard of the IBM Watson computer or the singularity which is this notion that eventually data processing will outstrip the humans brain to process information so there may be a merging of technology and humanity in the singularity that's a whole frame of thought also big data big data is referring to processing enormous amounts of data or artificial intelligence which again is is the same notion of data processing Dayna bandwidth is the internet ubiquitous internet and also mobile technology and how much data can go through those lines it's increasing along an exponential curve and also just the availability of Internet is a related issue right now Facebook is looking at providing internet to all areas of the globe with solar-powered airplanes that can go around the around the planet on a continuous basis providing Internet access Google is looking at the exact same thing through a series of balloons so we're talking about internet being ubiquitous being available to everyone on the planet and the bandwidth going up by orders of magnitude and finally data storage it's cheaper and cheaper to store data in fact to for a company to store one petabyte of data in 2010 it cost roughly $80,000 per month by 2020 just ten years later it's expected to cost four dollars from 80,000 down to four dollars why because the data is scale or rather the technology is scaling up by orders of magnitude the capacity is going up along an exponential curve what are some other examples robotics robotics are an exponential technology but you may have heard of the Baxter robot which is a robot that can learn something very very quickly these robots are very soon back in the good old days they were just being used like in auto assembly plants or or large industrial manufacturing factories but these robots are becoming more and more user friendly and human friendly and cheaper so we're gonna see them showing up in all sorts of different functionalities across our economy what about drones right unmanned aerial vehicles or even the self-driving car that Google is experimenting with and recently there were news stories that Apple may be creating a car of their own which would also be a self-driving car these drones are essentially robots of their own okay but that the whole notion of drones and the Amazon may be using drones to deliver packages so these are exponential technologies these are technologies which have the potential to completely disrupt existing industries and replace existing industries with entirely new ways of doing things 3d printing 3d printing is an exponential technology the costs are coming down the capabilities are going up right so now we have a 3d printer on the International Space Station which can print replacement parts when something breaks up there and the same thing is happening in all sorts of areas of manufacturing tragen doing prototypes right now individuals can create prototypes of products in their own garage with 3d printers because they no longer have to do injection filled mouldings into some other part of the world which costs hundreds of times more they can do it in their own garage that's an exponential technology biotech neuro tech nanotech right these are all related fields which are also expanding along an exponential curve the new solar power industry is an exponential technology the cost of PV panels is dropping and the capacity of these PV panels and the manufacturing facilities that produce them is going up along an exponential curve these are all exponential technologies and of course mobile and information communication technology in general some people refer to that as ICT that is also an area of exponential technology so these are technologies which are growing which are scaling up they're increasing by orders of magnitude and when they do that they have the potential to completely disrupt existing industries and we are gonna witness that in our lifetime all of the technologies that I've mentioned so far in this video are all technologies which are gonna change the way we do business the way we live our lives in the next one to five ten years we're gonna see extraordinary progress in every one of those technologies that I've mentioned so far the the the world of exponential technology the the the search traffic for the term exponential technology everyone is starting to look at these scalable technologies why because they're gonna change our world thanks so much for watching this video my name is Patrick reminding you as always to think bigger about your business think bigger about your life

2 Comments

  1. Rob Ludlow said:

    Wow, fantastic video! I can't believe how many items you covered in this video… many of which I'm SUPER interested in and a few that I'm quite passionate about.  Great job!

    June 30, 2019
    Reply
  2. Mr.Donkov said:

    Mostly all of this as a result of free market economy

    June 30, 2019
    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *