Defining our Future Beyond Technology
Trust and societal trends will be just as important as tech.
Our shared future will not be based solely on AI or Q-day but largely on trust, climate, societal well-being, and other softer factors.
Impressively, KPMG’s Futuresphere report sees our future not just through the lens of technology, but through a deeper look at what brings us together or apart as a society.
This is important because you can’t have an AI future or a solution to climate change unless you have trust and a modicum of social cohesion. They are intertwined.
I give KPMG credit for understanding that technology doesn’t exist in a vacuum.
👉TAKEAWAYS
A limited subset that leaves out AI, Quantum and Biotech.
Climate adaptation
By 2030, 2% of total working hours worldwide will be lost yearly as increased heat makes working more difficult.
Healthy populations
In Australia, just under half (47%) of Australians had one or more chronic conditions in 2017–18, an increase from 42% of people in 2007–08.
Societal wellbeing
Excessive inequality can erode social cohesion, lead to political polarisation, and lower economic growth. A recent survey found that more than three-quarters of Australians said they would refuse to help someone who disagreed with their views.
Industry 5.0
Smart manufacturing is becoming increasingly important as developed nations with high labour costs look to take advantage of converging innovations across robotics, AI, IoT, and cloud connectivity.
Autonomous agents
Research has shown generative AI technologies can improve productivity by executing tasks 25% faster. The AI-powered automation market is projected to reach US$12 billion by 2026, according to IDC.
Trusted forever
Trust in public institutions has been crumbling for some time. Just 50% of people surveyed in the 2024 Edelman Global Trust Barometer expressed confidence in governmental institutions and 48% were willing to express their trust in the media.
Accelerating mistrust and misinformation
Research has shown public distrust in AI technology far outweighs industry excitement. The KPMG and University of Queensland Trust in AI global study found 60% of Australians do not trust AI at work.
Traceability
KPMG’s supply chain survey found one-third of companies plan to increase their focus on sustainable sourcing as part of their future supply chain strategy as growing demand from regulators, shareholders, and customers
KPMG’s Trust in Artificial Intelligence: A Global Study 2023, revealed three out of five people worldwide are either ambivalent or unwilling to trust AI. Notably, a majority (76–82%) placed their trust in universities, research institutions, and defense organizations, instead of businesses and governments to use and govern AI in the public's best interests.
👊STRAIGHT TALK👊
We tend to think of our future in terms of technology and ignore other softer societal factors.
This KPMG report does a great job of including them in their tech outlook. It's one of the few reports to do this, which is what makes it so unique.
Inequality and trust are two of the non-technical issues KPMG addresses. While it may be easy to overlook these factors, both will have a key role to play in the adoption of new technology.
Our future won’t just be defined by technology, but how societal, demographic and environmental factors impact us all.
It’s important while dumbstruck by the latest technology to remember this.
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