Prediction is very difficult, especially about the future – traditional Danish saying often attributed to Nils Bohr
The interest in A Simple Visual History of Digital Transformation prompted some to ask about where do we go next. Make any predictions on digital transformation and you can be sure that someone is currently working to undermine your credibility. The following suggestions for the future of digital transformation are offered on the basis that these are ideas that exist “but are not yet widely distributed” to borrow an idea of William Gibson.
As the costs of digital connectivity and computing power fall, these capabilities are being added to more and more devices. The internet of things has reached our homes and our workplaces. The increased ability to gather and use information in real time will drive new innovations in our businesses and our lives.
Add enough digital connectivity and computing power and you have created the potential for a mesh of sensors, connectivity and processing power to fill our environments. Now our digital things and our communication devices can be in constant contact and new applications will be developed to take advantage of the rich digital environment.
The digital mesh will help accelerate digital automation as many traditional roles of knowledge workers, such as the gathering, digesting and processing of information now flow from an ambient mesh and are managed through algorithms and their managers.
A digital mess also enables the greater leverage of bots, digital agents that can navigate the mesh and achieve outcomes for their owners, clients and masters. These algorithms take on the role of making local decisions or acting as advisers or facilitators across the breadth of the networks. Digital Agents help manage the scale of information and the real time demands of the mesh.
Distributed and connected computing power also enables us to revisit concepts of how we record, store and share information on concepts like ownership, identity and history of transactions. Instead of a single ledger located in one location, the transaction history can be distributed and validated across the network, as in blockchain. Innovations will build on these capabilities into new domains.
The digital mesh increasing can enable individuals by supplying capabilities need for individuals to have greater awareness, connection or to do work that was previously beyond the capability of a single individual. If an organisation is a solution to transaction costs as Coase suggest, there are new implications for the role and future of our organisations and the growing capabilities of the digital systems will shape the work individuals will do (or don’t do).
We have not yet begun to explore the potential of extending this digital mesh and its capabilities to the entire world. We can already see new approaches, such using e-commerce villages in China, video in education in India, market pricing data for farmers in the third world or mobile payments in Africa. As the costs of digital technologies fall and reach expands new entrepreneurs will solve new problems for those beyond the reach of this technology today. Perhaps then we will truly experience the power of the Internet of Humanity.