Wol Kolade discusses his predictions on the opportunities technological innovation will bring.
As with most things in life, the rise of AI, blockchain and automation offer both opportunities and threats, depending on which way you are looking at it. These technologies must be embraced, and when they are, they can create efficient and optimised services.
Through this innovation, several sectors are moving on from large, monolithic systems to something much more nimble and customer facing.
The opportunity is huge – we are already seeing the benefits playing out in our own business and in those we invest in.
That being said, there is a significant threat that with these technologies in terms of the human impact, which in turn affects the economy. The rise of these technologies means efficiency and less of a role for many employees in some areas of the economy and different roles in others – ultimately.
Overall, I am truly excited by these developments in technology but the opportunity needs to be carefully managed and at the moment people are not paying attention. It is always the case with technology that everyone is suddenly surprised by the speed of change and governments should be planning ahead to ensure that isn’t the case and that we have the ability to adapt.
This article was originally published on PE News.