In recent discussions on emerging trends, the spotlight has turned to the influence of artificial intelligence (AI) and biotechnology on businesses. A notable framework for understanding these shifts is presented in Jamie Metzl's recently published work, "Superconvergence." Metzl, a futurist who has consulted with esteemed organisations such as the U.S. National Security Council and the United Nations, posits that the 21st century will centre on human-engineered intelligence and reengineered biology.
According to Metzl, "If the 19th was the century of chemistry and the 20th that of physics, the 21st is clearly the century of human-engineered intelligence and reengineered biology.” This perspective is crucial as it reflects the ongoing evolution in industries driven by advancements in biotechnology and AI. Companies are projected to benefit from new biomaterials, biomanufacturing processes, bioengineered medicines, biofuels, and innovations in biocomputing, signalling a transformative era for various sectors.
However, the crux of Metzl's argument underscores the significance of maintaining a broader awareness of emerging threats and opportunities that may not yet be immediately visible, which he refers to as "peripheral vision." He notes that as business dynamics accelerate, leaders often become narrowly focused on immediate challenges, neglecting potential game-changers in the periphery. To counteract this trend, Metzl advises corporate leaders to dedicate annual board meetings to explore these peripheral threats and opportunities, specifically addressing developments in AI, data analysis, chemistry, and medicine, rather than limiting discussions to current tactical issues.
A cautionary tale shared by Metzl highlights the downfall of Nokia, once a leader in the mobile phone industry. As the company was preoccupied with competing against Blackberry's keyboard-centric smartphones, it failed to recognise the threat posed by Apple's iPhone, which introduced a revolutionary touchscreen interface. Opting to enhance its creations without considering the broader landscape, Nokia's oversight of this peripheral competitor ultimately led to its decline in the market.
Metzl's recommendations emphasise the urgency for businesses to broaden their perspective to stay relevant. The notion of maintaining "eyes on the ball" can be detrimental, with a focus on immediate concerns potentially blinding leaders to transformative changes within their industries. The narrative around AI and biotechnology is evolving rapidly, and corporations are compelled to rethink their approach to encompass not just present challenges, but also future possibilities brought forth by these advancing technologies.
Source: Noah Wire Services