TechCast/Cognis Strategic Forum

The First

Strategic Forum –

Planning for Transformative Change

The pandemic and other threats like climate change pose an existential challenge to organizations everywhere, and they have made it clear that the present global order is not sustainable. The World Economic Forum called for  “A Great Reset” in all spheres of society. Leaders in business, government and other institutions need to plan for transformative change – NOW.

The TechCast Project draws on its leading research to bring authoritative studies on the crucial issues of today to a broader audience. See our work on  Global Consciousness, The Coming Internet, Redesigning Capitalism, Forecasting the Presidential Election, and AI versus Humans.

Complimentary Admission 

Anyone with an interest in strategy, foresight, future studies and related fields is encouraged to attend. 

Conference Begins at 2000 UTC (coordinated universal time) and ends at 2130 UTC

Wednesday, June 30, 2021 
1 pm PDT (Los Angeles, San Francisco)
4 pm EDT (New York, Washington, DC)
9 pm daylight time (London)
10 pm daylight time (Paris)

Thursday, July 1, 2021
6 am standard time (Seoul, Tokyo)
7 am standard time (Sydney)

PROGRAM

Conference Host

Limor will open the conference by welcoming participants, introduce speakers and their topics and direct questions through the chat function to speakers.  She is a skilled facilitator and will ensure that the proceedings are productive and transparent.

Limor Shafman

Limor Shafman
Director, Strategy & Operations, LG NOVA Center
And a Frequent Speaker

 

At the LGC NOVA Center, Limor is part of a startup/scaleup challenge and incubation program for LG Electronics, activating on the company’s global innovation program. Prior to this, Limor co-founded TIA’s Smart Building Program.  With her consulting company, KeystoneTech Group, she worked with PropTech startups on market strategy and business development. She co-leads the NIST – Global City Teams Challenge Smart Buildings SuperCluster. As an international corporate attorney, Limor draws on her understanding of the digital environment from her work in the theme park, video game, mobile communications infrastructure, and other technology sectors. She has led technology-oriented organizations, serving as President of the World Future Society DC Chapter and Co-founder, Chair Emeritus of the IPv6 Forum Israel Chapter. Limor is also an international speaker and a moderator. She has been a show host for several online media outlets.

 

Global Transformation: 
Most Likely Scenario for 2030

Bill draws on his work at TechCast to provide forecasts of 50 emerging technologies, 30 social trends, and 25 wild cards.  Results are aggregated to provide a macro-forecast of the “Most Likely Scenario for 2030” —  Sustainability Arrives, Green Transportation, Infinite Knowledge and Intelligence, Mastery Over Life, Threats Across the Spectrum and Higher-Order Values.  We conclude with the theme of  Prof. Halal’s forthcoming book, Beyond Knowledge: Digital technology is now driving a shift to an “Age of Consciousness.”

William Halal
The TechCast Project
George Washington University

Bill is Professor Emeritus of Management, Technology and Innovation. He is founder and director of the TechCast Project and a thought leader in foresight, strategy, forecasting and related fields. For more, see www.BillHalal.com

 

State-of-the-Art in Strategy and Foresight: Constant Change from the Bottom Up And the Outside In

Jess and Bill summarize results of their recent survey of strategic foresight practices to outline how strategic foresight is changing to cope with the technology revolution. The study’s main conclusion is that organizations should develop “constant change from the bottom up and the outside in.”

Jess Garretson
CEO, The Cognis Group

As leader of this life sciences consultancy firm, Jess provides leadership for the company portfolio that includes IP research, consulting and strategic partnering services, Pharmalicensing.com and FutureinFocus.com–an online subscription services curating foresight reports on technology and innovation trends driving the next 10-20 years.  Many years of experience in both corporations and consulting provided a multi-faceted perspective for driving solutions most critical to brand and business development.

William Halal
The TechCast Project
George Washington University
(See bio above)

 

Keynote Speech:

The Time For Transformation Is Now

Hazel Henderson draws on a lifetime of work in future studies to suggest what families, organizations, nations, and all of us can do to actually create transformative change.  How do futurists and strategists get their attention? What strategic “processes” do we recommend? How can this Strategic Forum provide leadership?

Hazel Henderson
Futurist, Author, Speaker, Consultant
President, Ethical Markets

Hazel Henderson is a global futurist and her eleven books and current research continue to map the worldwide transition from the fossil-fueled Industrial Era to the renewable circular economies emerging in a knowledge-rich, cleaner, greener and wiser future. Ethical Markets Media Certified B. Corporation, which Hazel founded in 2004 after 20 years advising the Calvert Group of socially-responsible mutual funds, continues the work of reforming markets and metrics to guide investors toward our long-term survival on planet Earth. In the 1960s, with the help of a volunteer ad agency and enlightened media executives, Hazel organized Citizens for Clean Air to inform New Yorkers of the polluted air they were breathing. They showed the late Robert F. Kennedy, then running for his Senate seat, all the sources of this pollution and why they were campaigning to correct the GDP to subtract, not add, these pollution costs.  Kennedy’s speech on the GDP problem at the University of Kansas became a rallying cry for reform of this obsolete indicator, still too often quoted as a measure of national “progress“!  In 1975, Hazel joined Lester Brown on the founding board of the World Watch Institute, and again, she was forced to face up to this Global MegaCrisis at every board meeting, as the human effects on planetary ecosystems deteriorated. For more, see Hazel’s recent presentation at the Family Office Forum in Singapore, March 5th.  Hazel can be reached at hazel.henderson@ethicalmarkets.com

 

Following Executive Workshop

($195 Admission)

The Workshop begins 30 minutes after the Conference ends (2200 UTC).

This Executive Workshop follows the above Conference to assist leaders, planners and other professionals in drawing on the presentations to develop a more powerful strategic posture. In this workshop, you will review the presentations of the previous speakers and assess the impact on your current strategic posture. In a small working group of your peers, you will discuss needed adjustments to account for the anticipated changes. Each group will report their key findings to the entire group. You will come away with a comprehensive set of insights and actions that you can take back to your organization and bring your overall strategy into greater alignment with the transformative changes that lie ahead.

Art Murray
President/CEO, Applied Knowledge Sciences, Inc.
Assisted by Limor Shafman and Bill Halal

Dr. Art Murray is co-founder of Applied Knowledge Sciences, Inc. where he has served as CEO for over 27 years. Since 2005, he’s been the Director of the Enterprise of the Future Program at the International Institute for Knowledge and Innovation. He’s the author of “Deep Learning Manual: the knowledge explorer’s guide to self-discovery in education, work, and life,” and “Building the Enterprise of the Future: Co-creating and delivering extraordinary value in an eight-billion-mind world,” and KMWorld magazine’s popular column: “The Future of the Future.” He holds a B.S.E.E. degree from Lehigh University, and the M.E.A. and D.Sc. degrees from the George Washington University.

Small group breakout discussions and reporting.

Readings:

  • Updating Strategy for a High-Tech World: Constant Change from the Bottom Up and the Outside In
  • Through the MegaCrisis (Awarded “Outstanding pape of 2013” by Emerald Publishing) 
  • VALUING LOVE ECONOMIES: Revealed as Driving Positive Human Evolution!

 

Register Here for the June 30 Conference

Offer Donations to the June 30 Conference

Register Here for the June 30 Workshop


To clarify questions about the program or other issues, email Prof. Halal at Halal@GWU.edu

 

 

Second Conference of the Strategic Forum

July 28, 2021

 

Foresight Lessons From the Pandemic:
Implications for Strategy Formulation and Response

 
Ideally, foresight precedes strategy formulation, but in moments of crisis normal order must be abandoned and foresight and strategy inevitably unfold together in real-time.  We will offer a set of lessons learned from conducting a major Delphi-based scenario foresight project during the darkest days of the unfolding pandemic and reflect on the long-term implications for how foresight and strategy can more effectively blend in the face of deep uncertainty.

 
Jerome Glenn
CEO, The Millennium Project

Jerry is the co-founder of the Millennium Project with 67 Nodes around the world. He is also lead author of the State of the Future reports, co-editor of Futures Research Methodology 3.0, designed and manages the Global Futures Intelligence System. Glenn led The Millennium Project team that created the COVID-19 scenarios for the American Red Cross and lead-author for Scenario 1: America Endures, the baseline, surprise fee scenario.


Theodore Jay Gordon
Futurist and Management Consultant


Ted is a specialist in forecasting methodology, planning, and policy analysis. He is co-founder and Board member of The Millennium Project. Ted founded The Futures Group,  was one of the founders of The Institute for the Future and consulted for the RAND Corporation. He was also Chief Engineer of the McDonnell Douglas Saturn S-IV and S-IVB space vehicles and was in charge of the launch of space vehicles from Cape Canaveral. He is a frequent lecturer, author of many technical papers and several books dealing with space, the future, life extension, scientific and technological developments and issues, and recently, co-author of books on the prospects for terrorism and counterfactual methods. He is the author of the Macmillan encyclopedia article on the future of science and technology. He is on the editorial board of Technological Forecasting and Social Change. Mr. Gordon was a member of the Millennium Project team that created scenarios for the American Red Cross. Ted was responsible for the negative scenario that depicted a bleak but plausible future; this scenario contains many assumptions about the unknowns, but in the end seems endurable and plausible.

Paul Saffo
Forecaster

Paul is a Silicon Valley-based forecaster who studies technological change.  He teaches at Stanford where he is an Adjunct Professor in the School of Engineering and is Chair of Future Studies at Singularity University.  Paul is also a non-resident Senior Fellow at the Atlantic Council, and a Fellow of the Royal Swedish Academy of Engineering Sciences. Paul holds degrees from Harvard College, Cambridge University, and Stanford University.

Readings:

  • Three Futures of the Covid-19 Pandemic in the US,  January 1, 2022.
     
Complimentary Admission 

Anyone with an interest in strategy, foresight, future studies and related fields is encouraged to attend. 

Conference Begins at 2000 UTC (coordinated universal time) and ends at 2130 UTC

Wednesday, July 28, 2021 
1 pm PDT (Los Angeles, San Francisco)
4 pm EDT (New York, Washington, DC)
9 pm daylight time (London)
10 pm daylight time (Paris)

Thursday, July 29, 2021
6 am standard time (Seoul, Tokyo)
7 am standard time (Sydney)

 

Register Here for the July 28 Conference

Offer Donations to the July 28 Conference

Register Here for the July 28 Workshop


To clarify questions about the program or other issues, email Prof. Halal at Halal@GWU.edu

 

 

Coming Speakers

 
The Emerging Global Consciousness

It is increasingly clear that a major shift in values, beliefs and ideology is needed to make sense of today’s turmoil and to grasp the outlines of the emerging global order. This session presents a vision of global consciousness developed by TechCast’s study to resolve the Global MegaCrisis.

William E. Halal
The TechCast Project
George Washington University
(See bio above)

Story Thinking

A strategic organizational posture that balances collaboration with competitiveness requires a deeper understanding of common ground, and that understanding is found in stories. Beyond storytelling, story thinking provides the visualization of story structure as the holistic business, learning, and communication model. The foundational shared mental model of “process” which was adopted in the Second Industrial Revolution must expand into a shared mental model of “story” to thrive in the Fourth Industrial Revolution, given it is based on intelligence, not electricity. Carl Jung said, “You are IN a story, whether you know it or not.” Operationalizing this quotation is the goal of story thinking, and is the key to thriving within transformational change.

John Lewis
Coach, Speaker, Author, Story Thinking

Dr. John Lewis, Ed.D. is a consultant, coach, and is speaker on the topics of human capital and strategic change within the knowledge-driven enterprise. He is the author of Story Thinking, which is about the major organizational challenges related to the Fourth Industrial Revolution and ways for visionary leaders to begin addressing them now by rethinking traditional views of change, learning, and leadership. He is also the author of The Explanation Age, which Kirkus Reviews described as “An iconoclast’s blueprint for a new era of innovation.” He is the current president of EBLI (Evidence-Based Learning Institute) and holds a Doctoral degree in Educational Psychology from the University of Southern California, with a dissertation focus on mental models and decision making.

 

Keys to Open Innovation

Many of the world’s most successful business models, companies, and products were born from the synthesis of necessity and collaboration. “Open Innovation” is not a new concept, but rather one that demands increasing attention and robust implementation in the rapidly accelerating technology innovation lifecycle. Despite the success stories, many organizations have not yet fully embraced the concept of leveraging external innovation, as internal stakeholders often mistakenly perceive threats and underestimate opportunities that may arise from partnerships. This discussion will explore the careful balance that must be achieved and maintained between legacy internal processes and the augmented capabilities of external resources.

Anthony Cascio
Director of Research & Engineering
The Cognis Group

Anthony Cascio leads the Cognis team responsible for intellectual property analytics & landscaping, technology scouting, and partnering search engagements. For over twelve years, Anthony has consulted with clients ranging from the Fortune 500 to startups in a broad array of high technology industries related to both the life and physical sciences. He provides unique insight alongside validation to help guide each client’s strategic direction and identify new technology-related business opportunities. Anthony studied electrical engineering at the University of South Florida while conducting research in electronic materials characterization and electrospray deposition of macromolecular structures.

 

Staying Safe in a Digital World

Each day the news is filled with stories about computer crime and hacking which affect our financial institutions, banks, small businesses, large corporations, hospitals, retail stores and threatens to steal even our own identity. Cybersecurity refers to the practice of defending computers, networks and data from malicious attacks. We will provide an overview of aspects of cybersecurity including viruses, phishing, social engineering, identity theft and personal privacy as well as threats to the Internet of Things and physical security and provide tips on how to protect yourself and your organization from these threats.

Steven Hausman
Futurist  and Speaker
 Former Administrator, National Institutes of Health

Which data, what data, what futures: cybersecurity from the cloud to the brain cloud

We live our existence in a space we see, smell, hear, touch, and taste. However, for the last 10 years, this is not just all the space our existence is lived. We spend an ever-growing part of our time in cyberspace, in a global domain within the information environment where our digital life carries on — but for which nature did not equip us for sense-making. In this talk we will explore the strategic structure of cyberspace and its implications, to then broaden our aperture looking at trends for both near future and deep futures.

Gabriele Rizzo
Visionary Futurist and Enthusiastic Innovator
Former Advisor to the Minister of Defense for Futures

Dr. Gabriele Rizzo, Ph.D., APF, holds a PhD in String Theory and Astrophysics. He is the NATO’s Member at Large (“world-class expert drawn from academia, industry or government from the Nations”) in Strategic Foresight and Futures Studies, and the former advisor to the Italian Minister of Defense on Futures. He is a member of the Strategy Board of the European Cyber Security Organization, a PPP worth $2B.  Dr. Rizzo’s works inform $1T (one trillion USD) worth of Defense planning, some were evaluated “important pillars of strategy and implementation of R&I” by the EU, and others shape industrial investments in Research, Development and Innovation for more than $20B in 2020.

 

 
 

Proudly Produced by:

The TechCast Project

The Cognis Group

 

Sponsored by:

 

 

AI versus Humans – The Salient Issue of Our Time

AI versus Humans – The Salient Issue of Our Time

 
Having solved the problems of global consciousness, the coming internet, redesigning capitalism and the 2020 US Election (ha ha!), we now turn to the most salient technology of our times – artificial intelligence (AI). The heart of this issue focuses on the relationship between AI and humans. A good example is TechCast’s study on “AI and Future Work.”  We found that the threat of mass unemployment due to automation is likely to be resolved by pioneering a new frontier of “creative work” that can’t be done by intelligent machines.
 
Let’s start by defining AI in terms of the human tasks it is capable of automating potentially.  The figure “Structure of Consciousness” shows the hierarchy of different tasks or functions performed by human consciousness, or human intelligence (HI).  As noted in the figure, the arrow indicates how AI is automating progressively the lower-order tasks, forcing humans to focus on the realm of  higher-order tasks.
 

  
This raises the big question – “How much of HI is likely to be automated, and how much will humans continue to do?  To get a handle on this profound issue, we frame the problem in terms of the following 15 functions that roughly comprise HI.
 
1.  Perception   Sensory experience and awareness through touch, sight, sound, smell, taste. 
 
2.  Memory   Information encoded, stored, and retrieved for future action.
 
3.  Learning   Knowledge or skill acquired by instruction or study.
 
4.  Knowledge   Understanding of a science, art, or technique for some purpose.
 
5.  Decision   A determination arrived at after consideration.

6.  Emotion   Mental reaction (anger, fear, etc.) experienced as strong feeling.

7. Empathy   Experiencing vicariously the thoughts and emotions of others. 

8.  Purpose   An object or end chosen to be attained.
 
9.  Will   Ability to desire, choose, consent to some action.

10.  Values   Things we think to be of relative worth, utility, or importance.

11.  Beliefs   Some idea that is considered true or held as opinion.

12  Imagination   Novel sensations and ideas gained without input of the senses.
 
13.  Intuition   Attaining knowledge without rational thought and inference.
 
14.  Peak Experience   Altered state of consciousness characterized by euphoria.

15. Vision   Guiding thought, concept, or object formed by the imagination. 


Some of this is being done by machines now. For instance, see this example showing that a third generation of AI is coming that goes beyond deep learning to simulate human empathy.  In this example, an avatar listens to a soldier talk of his PTSD experiences and coaches him into resolution of the trauma.  Obviously, the applications could be huge, from automated psychotherapy to teaching to virtual sex.  So we don’t wish to dismiss the prospects for advanced AI.

But we do want to explore the limits of AI. How far up this hierarchy of human thought can AI proceed? And, even if AI can simulate some aspect of human consciousness, what does that mean really?  Would it be the same as what people do? Or would it be just a false replica? A rough approximation?  A feeble substitute for the real thing?  These are difficult and profound questions that bear on the future relationship between AI and HI. Let’s see what we can learn.

When speaking on this topic, we often ask audiences if they think there is a substantial difference between AI an HI. A few brave individuals  usually say “No, there is no difference,” but the vast majority (90% or more) insist there is a substantial difference. They may not be able to put their finger on it, but it seems intuitively obvious to most people that humans are unique. Of course, we could be proven wrong as AI matures. That is the nature of this great experiment now underway as science advances. This little TechCast study is our attempt to anticipate the outcome.

After getting your thoughts on framing this issue in Round Two,  you will be asked to look over the definitions of each function and estimate if AI will be able to do it in the next few decades without human input. (Yes or No). The results should give us a sound grasp of the profile of artificial intelligence (AI) versus human intelligence (HI). These 15 functions may not define the full range of human consciousness perfectly, but they will serve the rough purpose of this study.
 
Round Two — Invitation to Help Frame This Study

For the second round of the study, we now invite you to make sure this issue is framed in the most useful way possible.  Are important functions missing?  Are these defined accurately?  Is  the problem posed effectively? Should we pose other questions? What else is on your mind?
 
Please send your best thinking to Halal@GWU.edu. We will use your ideas to improve this study and post them in the next edition of TechCast Research. 
 


Thanks for your support. The TechCast Team
  

Click here to get the complete blog in web format

Forecasting the 2020 US Election – Trump or Biden?

Forecasting the 2020 US Presidential Election – RESULTS

 

TechCast has done many provocative studies, but results of this one are unusually fascinating, worrisome and even hopeful. Much of the world is anxiously awaiting either more “Trumpmania” – or Biden normalcy and some resolution toward a complex future.
 
The bar chart below shows the probability of a Trump Win, and the probability of a Biden win is the inverse. Comments from our responding readers are spread out below along a Biden-Trump Spectrum.
 
Some of the 21 respondents are not Americans, but they are following this election closely, which shows that interest is global. We heard from Michael Vidikan, Margherita Abe, Dale Deacon, Peter King, Art Shostak, Jonathan Kolber, Jacques Malan, Clayton Rawlings, Brad Hughes, Ted Gordon, Owen Davies, Chris Garlick, Fernando Ortega, Steve Hausman, Mark Sevening, Wendell Wallach, Hannu Lehtinen, John Freedman, Jose Cordeiro, and Hellmuth Broda. Thanks to all.
 
 
 
 
While the probability data favors Biden winning the election, the results are so close there remains great uncertainty. As the comments make clear, people think Trump will find ways to suppress votes, get outside interference, introduce doubt and challenge the results, while many fear Biden will introduce more socialism and higher taxes. 
 
We rely on the collective intelligence of 21 thoughtful readers from around the globe who have examined the Pros and Cons of our background data and made careful estimates. The wide diversity of the sample is especially compelling. If this study were replicated with 21 different  people, the results would likely be similar. TechCast has studied our accuracy many times, and this is a typical result, with accuracy roughly within +/- 1- 2 percent.  
 
Drawing on the probability data and comments, we sketch out the two possible scenarios that could result, noting both the dangers, challenges and gains. TechCast appreciates fully the heated nature of this issue, and we have strived to focus on the evidence summarized in the background data and comments, often with a touch of forecaster judgment.
 
Trump Wins would produce more confusion, a lingering pandemic and faltering economy, heightened social division and global isolation.  American democracy would likely become more autocratic. Apart from gaining a majority on the Supreme Court (more politicalization), it is hard to find benefits. Trump is often thought to be good on the economy, but the evidence shows growth was the same under Obama. And Obama started from the worst crisis since the Great Depression of ’29, while Trump slashed taxes and regulations with little effect. 

Biden Wins would require absorbing Trump supporters, controlling the pandemic, taxing the wealthy, improving health care, supporting people of color, rebuilding infrastructure, addressing climate change, immigration and repairing global relations – while fending off charges of socialism. All this seems unlikely, but it could prove a tipping point in the decline of the Republican agenda and autocrats everywhere.
 
Both scenarios are possible, but TechCast relies on the data and concludes that a Biden win is the more likely outcome. It could possibly be a landslide victory, enough to overwhelm Trumpian power plays.  We could be proven wrong, of course, but the outcome should be clear sometime after the election. If Biden does win, remember, you heard it here at TechCast.

Thanks for your support. The TechCast Team
 

Click here to get the complete blog in web format

Forecasting the 2020 US Election – Trump or Biden?

Forecasting the 2020 US Presidential Election

 

TechCast now moves to the next most popular topic rated by our readers – Will Trump or Biden win the coming election? Yes, this is controversial and fraught with heated emotion. But so too were our recent studies of the MegaCrisis, Global Consciousness, The Coming Internet and Redesigning Capitalism.

We choose to forecast this event in the same objective manner because it is among the most significant events of our time. It is an existential moment. The outcome will determine America’s experiment in Democracy, our lives, the future of our children, and even the world as a whole.

Using our method of collective intelligence, this blog outlines below the Pros and Cons for both candidates, and it asks you to comment on needed changes in this background information. Our next blog will publish an updated background analysis and invite readers to estimate the probability  of a Trump or Biden win. We could possibly carry this further by updating our forecast in a few weeks to see trends leading to the election. If we receive a flood of objections to this study, all bets are off.  TechCast aims to serve its readers. 

 

Background Information on the 2020 Election


Pros and Cons On Donald Trump

Pro: Large and solid political base.  Somewhere between 30-40% of Americans support Trump, and some 90% of Republicans are devout believers.

Pro: Electoral college advantage.   The disproportionate weight of scarcely populated states strongly favors Trump.  Nate Silver, a successful political forecaster, thinks it will take Biden at least a 5% lead in the popular vote to overcome this advantage.

 Pro:  Rated best on economy.   Despite statistics showing no difference between Obama’s 8 years of economic growth and Trump’s 4 years, many continue to believe Trump is better at stimulating economic growth.

Pro: Could exploit chaos in the election.   Trump is a master at taking advantage of the chaos he foments, and more is likely to come.

Pro: Voter suppression, foreign disinformation, etc. may help.  Cutting back capabilities of the Postal Service, discouraging mail in ballots, restricted voter rules, disinformation from Russia, etc. could all give Trump an edge.

Con: Disliked by large segments of society.   Rather obvious.

Con: Poor performance.   Data on economic growth, presidential ratings, the Federal deficit and other indicators show that Trump’s performance is poor. (See our TechCast Study)  Roughly 75% of the public thinks the Nation is “On the wrong track,” a telling sign of presidential failure.

Con: Vulnerable on pandemic and resulting economic collapse.   By almost all indicators, the US response to the coronavirus has been the worst in the world, even eclipsing Brazil.

 

Pros and Cons on Joseph Biden  


Pro: Favored by Alan Lichtman forecast.   Prof. Lichtman at American University has developed a system that accurately predicts presidential elections for the past century. His system gives the election to Biden, but only narrowly.

Pro: Rated best on all other issues.   Apart from the economy, Biden is thought to be better at managing other political issues.

Pro: Solid reputation and experience.    Biden has made mistakes, but he has an impeccable reputation and a lifetime of experience at government.

Pro: Black voters determined to remove Trump.  Black athletes, celebrities and ordinary citizens are infuriated by racial injustice and other Trump flaws, and they show fierce determination to mobilize their large constituency against his reelection.

Pro: Shift to progressive values underway   The pandemic, economic collapse, racial injustice, climate change and other crises have spurred a worldwide shift in global consciousness that favors progressive change.

Con: Looks old.  Biden may be fit for his age, but he appears old at times and often slurs when speaking. 

 

Invitation to Comment on Background Data

 

NEW BACKGROUND INFORMATION  Please look over the background analysis above and send any needed changes to Halal@GWU.edu.  You may want to add a Pro or Con item, suggest revisions to existing items, question items, or anything else needed to make this analysis more accurate.

No rants please. Try to focus on helping us frame this forecast with all relevant information that could shape the election.

We are grateful for your participation. Results will be presented in our next blog for Round Two. 

 

 

Defining the TechCast Mission

 

The TechCast Team and I feel a need to explore possible changes in the TechCast mission. We are particularly concerned about the possible conflict between TechCast and its founder – Bill Halal.  For instance, what are the new TechCast goals exactly? Is it appropriate to continue calling the newsletter “Bill’s Blog”?

TechCast led the field for 20 years by providing authoritative forecasts spanning the entire environment for decision makers.   We published reports covering all aspects of roughly 50 emerging technologies, 30 social trends, 25 wild cards and endless other studies. This huge task required a dozen editors, other staff, marketing, legal fees and all the other costs of running a small corporation. Although It was a struggle, TechCast  earned almost $ 1 million over this time, largely used to cover costs and invested in the company.

But the enormous demands, insufficient capital and intensifying competition made it hard to survive, so we transitioned into this 2nd generation system. TechCast still provides forecasts, but we have yielded the need to cover everything and instead focus on breakthroughs – like our recent string of studies noted above. By doing less, I think we have been able to do more.

Now TechCast is now a lean operation incorporated into my professional site (www.BillHalal.com) able to study strategic issues that count.  Our primary goal is to make TechCast an “invisible college” for all those interested in strategic foresight. We aim to study the most significant issues on the horizon, distribute our knowledge widely, encourage collaboration on interesting ideas, assist our members in their own work, and anything else that advances strategic foresight for a changing world. The TechCast Project is returning to its academic roots. 

Our modest needs are covered by consulting, speaking and other projects.  The TechCast  vision is to develop capabilities as a business incubator in strategic foresight.  In the last few months, we partnered with Angus Hooke on a book that uses the work of several TechCast experts. We helped Claire Nelson and Hassan Rashidi launch their Engineering and Society project, collaborated with Jess Garretson, CEO of The Cognis Group, and are now planning an Executive Webinar led by Amy Fletcher and others. TechCast welcomes your creative ideas, suggested projects, articles and any other ways we can work together.

The  newsletter is our primary news vehicle, and it has been branded as “Bill’s Blog” to draw on the founder’s reputation, provide interest and to keep it personal.  We now wonder if a more  business-like name that is more inclusive would be best – TechCast News, etc. ?

 

Invitation to Comment on TechCast Mission
 

Kindly look over the above analysis and send your suggestions to Halal@GWU.edu. 

Mission  Do you like this TechCast mission? See a problem? Suggest something else? Have a proposal to consider?

Newsletter Name  Should our newsletter continue to be called “Bill’s Blog”?  Do you prefer “TechCast News”?  Can you suggest other names?

Comments will be published in the next newsletter along with our analysis.

Thanks, Bill

William E. Halal, PhD
The TechCast Project
George Washington University

 

Click here to get the complete blog in web format

Redesigning Capitalism

Redesigning Capitalism – Final Results

The Coming Collaborative/Democratic Enterprise
 

 
Do not despair over the dismal state of the world today. The collective intelligence of 36 people who have participated in this study expect a new model of Democratic Enterprise to enter the business mainstream over the next several years with a highly positive societal impact. It could prove to be the beginning of a new American Renaissance.

Here’s a quick summary of the proposition being studied, more fully described at the end of this blog. The coronavirus pandemic, economic depression, the threat of climate change and other crises signal that business must go beyond making money to “internalize” these societal problems — or the world faces disaster. Building on the Business Roundtable announcement and other background data, this study forecasts the likelihood that the mainstream of business in modern nations will serve the interests of all stakeholders over the next several years.

This study started in our blog of August 1 when Redesigning Capitalism was rated as having greatest interest among 14 different topics. The blog of August 15 drew on comments from 12 contributors to flesh out our background analysis, and it also called for estimates of Probability and Societal Impact.

We are now pleased to present results from 24 of this blog’s readers below:
 




These results are striking. A sample of 24 is more than sufficient to reach sound conclusions, especially considering the sophisticated people who contributed, many of whom are TechCast Experts:
 
Margarite Abe, Jonathan Kolber, Jose Cordeiro, Peter King, Jess Garretson, Jacques Malan, Dale Deacon, Dennis Bushnell, Peter Bishop, Nicolas Cordes , Aharon Hauptman, Julio Milan, Andrew Micone, Linda Smith, Amy Fletcher, Fadi Bayoud, Lew Miller, Xin Wu Lin, Owen Davies, Tom Tao, Jerry Glenn, Carlos Scheel, Chris Garlick. We are grateful.
 
It is hard to imagine a more positive outcome. When considering the “mode” (highest number of responses), our contributors estimate a 70% probability that “the mainstream of business in industrialized nations (30% adoption level) shifts to collaboration with workers, customers, governments, environmentalists and other stakeholders over the next several years.” On Societal Impact, they rate “the impact this would have on society as a whole” at +7 on a scale running from -10 (Catastrophic) to +10 (Excellent). Using averages would drop these numbers a bit.
 
This impressive data, along with comments that follow, make a strong case for expecting an historic transformation of business consciousness over the next few years. The number of corporations involving stakeholders in major policy decisions is likely to grow from today’s small leading edge into the mainstream of business, both in the US and industrialized nations abroad. There remains confusion and doubts, as noted in the comments that follow. But if business leaders can seize the opportunities for transformative change, the economic world could enter a bold new economic era that solves major social problems as well as producing financial gains. It is even reasonable to think this would constitute a revolution in thought on political economy. In time, we may stop thinking in terms of “capitalism” altogether and embrace the emerging form of “democratic enterprise.” 
 
Leaders in business, government and other institutions should start to seriously plan this transformation by engaging stakeholders, devising metrics to evaluate stakeholder contributions and benefits and collaborating to resolve strategic problems that add value to be shared by the entire enterprise.
 
TechCast is thinking of starting an Executive Webinar to help business leaders adapt to this revolutionary change. We welcome any suggestions and help in planning this venture.
 
 

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Redesigning Capitalism

Redesigning Capitalism – Round Two
Comments From Readers On Collaborative/Democratic Enterprise
 

Following up on our last blog on Redesigning Capitalism, this second round continues our process of online collective intelligence to flesh out the background analysis with comments from contributors. Results confirm our framing of the issue, and they also raise crucial questions answered below. We then invite readers to estimate the probability that Democratic Enterprise will enter the mainstream and its societal impact.

Below you will find trenchant responses from the following different voices:  

Chris Garlick shows how the transportation industry is practicing stakeholder collaboration.

Carlos Scheel reminds us to include Nature and the Planet.

Dennis Bushnell claims Democratic Enterprise will emerge organically from market forces.

Linda Smith defends profit as the legitimate business goal.

Young-Jin Choi provides three requirements for “regulated human capitalism.”

Jonathan Kolber forecasts that a variety of corporate types will practice stakeholder collaboration.

Peter Bishop agrees with our analysis but questions our trends.

Margherita Abe estimates a 70% probability that democratic enterprise will arrive soon.

Peter King likes the idea but worries about it surviving creative destruction.

Jess Garretson explores the forces and needs of stakeholder capitalism.

Jacques Malan finds this a difficult but crucial topic, and breaks it down by stakeholders.

Julio Milan outlines the importance of moving to a “humanist economy.” 

 
Critical Issues
 

While our original analysis is confirmed largely, several critical issues are raised by these 12 contributors:

 

Corporate Transformation is Here
 
Almost all commentators agree that the rising threat of pandemics, climate change, income inequality and other social and environmental problems are so severe that business leaders are being forced to “internalize” these issues by transforming corporate structures. This movement is often called “Environmental, Social and Governance (ESG),” while our analysis shows it is more accurately thought of as “collaborative enterprise” or “democratic enterprise.” 

Here is a sobering conclusion reached by the World Economic Forum:
 
“The bandwagon of stakeholder capitalism and sustainable finance is well and truly in train. As the future unfolds, those not already on it – authentically and materially – risk getting left behind.”

 

A Broader Form of Free Enterprise Would Be Historic
 
While some are concerned at the passing of “shareholder supremacy,” almost all contributors agree the required changes merely extend principles of markets, enterprise and competition into the social frontier. In short, there seems to be no call for fears of socialism because this is simply a broader form of free enterprise.

The emerging model of the “collaborative/democratic enterprise” changes the economic landscape by introducing democracy at the level of the organization. It is neither capitalism nor socialism but an unusually powerful concept that unifies both left and right.  The practice serves social interests as well as shareholders, so it is no longer focuses primarily on profit — capitalism.  It is led voluntarily by CEOs because it can be a competitive advantage, so it is not required by government — socialism. 

At the national level, governments would collaborate with constituents to serve all interests, including green taxes to limit carbon use, laws that promote equality, rulings to disperse market concentrations, etc. 

Progressive business leaders are embracing this idea in a constructive way that solves strategic problems to add value.  In principle, a collaborative system could solve nagging social problems, provide shareholders greater returns at less risk, minimize government oversight, stave off global crises like climate change and turn business leaders into social heroes. Collectively, it would shift global consciousness from self-interest to collective interest — an historic revolution.

 

Confusion Could Distort Efforts
 
The greatest danger in this period of institutional change is confusion over terms and methods. For instance, some are fearful that serving social needs will diminish the ability of business to survive a competitive marketplace. This danger stems from the decades-long focus on the older concept of social responsibility, without the concurrent need for obligation to perform financially.

The many examples cited here show that a leading edge of innovative firms have survived the test of competition and thrived. The key is to focus on collaborative strategic problem-solving in order to serve all needs better. As noted in our analysis below, stakeholders are actually resources, much like capital, and the challenge is to integrate social resources into business operations. The theory holds that collaborative enterprise should be more effective economically as well as socially. To survive the test of market competition, any system will have to be more productive.

There are also dangers of getting bogged down in endless wrangling over “who gets what.” This will require charting a new frontier of management that resolves the political issues that are endemic to any organization. Business leaders will have to form working partnerships with all stakeholders that ensure both responsibilities and rewards are equitable for all parties.

There are probably lots of other distortions that we cannot yet imagine, including the obstacles noted below in our trend analysis. Fasten your seat belts because the next decade or two could prove a bumpy ride.

 
Invitation to Answer Survey Questions

 
We now invite readers to look over the comments below followed by the background analysis. Then kindly send your best estimates of the questions below to Halal@GWU.edu.

PROBABILITY  Please estimate the probability that the mainstream of business in industrialized nations (30% adoption level) shifts to collaboration with workers, customers, governments, environmentalists and other stakeholders over the next several years. (from 0 to 100%)

SOCIETAL IMPACT  Please estimate the impact this would have on society as a whole. (from -10 Catastrophic to +10 Excellent.) 

COMMENTS  What reasons guide you in making these estimates? Other comments?

We are grateful for your participation. Final results will be presented in our next blog for Round Three.

Thanks, Bill
William E. Halal, PhD
The TechCast Project
George Washington University

 

Click here to get the complete blog in web format

Redesigning Capitalism

I am grateful to the many people who responded to our request for rating topics:
 
Art Shostak
Ted Gordon
Clayton Rawlings
Carlos Scheel
Owen Davies
Dale Deacon
Fadi Bayoud
Jess Garretson
Gabrielle Rizzo
Young-Jin Choi
Peter King
Jonathan Kolber
Dennis Bushnell
Jacques Malan
Bob Finkelstein
Linda Smith
Margherita Abe
Hassan Rashidi
Amy Fletcher
Angus Hooke



The votes show that the winning topic is – Redesigning Capitalism.

Our initial framing of this study is shown below. Please note that our analysis on Redesigning Capitalism is simply Round 1 of what is likely to be three-round study. The trends below represent the type of trend analysis TechCast has pioneered for framing a topic. Our next blog will present a more complete analysis including comments from our readers, and it will also invite estimates to the questions posed. The third round will conclude with final results of the survey and conclusions.

It’s interesting to see this as a strategic version of “action research.”  This type of “strategic action research” uses simple but effective collective intelligence to provide the best possible answers to tough strategic questions. More than just seeing the results, the transparent nature of our process allows readers to participate and to better understand the method as it unfolds.

I invite all readers to send any corrections, additions, comments, etc. on this background analysis to Halal@GWU.edu. Please also advise if you think we should pose other questions for the TechCast community to answer.

Thanks for your participation. Get ready to learn the likely form of the “New Capitalism” in the coming issues of Bill’s Blog.
 

William E. Halal, PhD
The TechCast Project
George Washington University
 

 

Background Information on Redesigning Capitalism 

 
The financial crisis of 2000 and 2008 and the 2020 pandemic raised serious doubts about the failings of capitalism. These economic collapses, climate change, gross inequality and other threats making up the “Global MegaCrisis” have shattered confidence in what Francis Fukuyama proclaimed as “The End of History” – the fall of communism and the triumph of capitalism and democracy.

A variety of voices think this could become a “collapse of capitalism,” roughly like the “collapse of communism,” and caused by the same inability to adapt to a changing world. Nobel economist Joseph Stiglitz wrote, “The 2008 financial collapse may be to markets what the Berlin Wall was to Communism.” Communism could not meet the complex demands of the Information Revolution, and now capitalism seems to be failing to adapt to the Global MegaCrisis.
 
In response, corporations are making the transition to a quasi-democratic form of business that focuses on forming collaborative partnerships with employees, customers, business partners, and the public as well as shareholders. The Business Roundtable’s announcement that firms should serve all stakeholders is truly historic. The New York Times called it a “watershed moment … that raises questions about the very nature of capitalism.” If done well, this broader form of business could go beyond social responsibility for doing good to become a competitive advantage. 

To put this in perspective, consider the three models in the figure below. The profit-centered model is traditional, while corporate social responsibility (CSR) has tried to shift the focus to stakeholders over the past decades, without much success. The problem is that CSR is usually considered philanthropy and often ignores the need for profitability, making it the mirror opposite of the profit model. 
 

 

In contrast, the “corporate community”, or “collaborative enterprise,”  model goes beyond CSR to form a more productive system that benefits all interests. The key lies in making stakeholders working partners, rather than recipients of benefits. 
 
The fact is that the social interests in any business – workers, customers, partners and the public – are roughly similar to the role of investors. All these groups invest resources, incur costs and gain benefits, much like shareholders. Any enterprise is basically a socio-economic system composed of key stakeholders that perform crucial functions. Focusing on only one function distorts the performance of the entire system. It makes as much sense to think of capital as the only goal as it would to say the brain, heart or lungs are the most important part of the human body. From a more realistic systems view, the need is to integrate all these resources into a workable whole. That is precisely what any good executive must accomplish to build a viable enterprise. Here’s how Bonville Power harnessed the knowledge of its stakeholders:

“We used to treat outsiders (labor unions, the public, regulators) as a nuisance. After working with them, our adversaries helped us find creative solutions to intractable problems. Public involvement is a must for today’s managers. Conflict is unavoidable; the only choice is whether to dodge it or harness it.”
 
A democratic form of enterprise would spur cooperation throughout the social order, relieve government of burdensome oversight responsibility and reduce the risk of market volatility. Because business firms would be controlled by their stakeholders, they would “internalize” social impacts and reduce government regulations and bureaucracy. This would also reduce the risk of stock market drops, labor conflict, cutthroat competition, swings in consumer loyalty, unexpected regulatory change, and other disruptive factors.

These gains would come at the cost of overcoming the obstacles noted in the Cons below. Profit is an easily measured, traditional goal, so displacing it will meet resistance from many, primarily investors and Wall Street. A quasi-democratic organization can be messy and it requires political skills that many business leaders lack.

The transition to stakeholder collaboration will be difficult, therefore, it may take years, and there will always be some firms that remain profit-centered. But the coming of collaborative enterprise is well underway even now and it will transform economic systems.

It’s important to note that stakeholder collaboration in business is a special case of the Third Principle in our earlier formulation of Global Consciousness:
 

     Principle 3. Collaborate With Stakeholders to Better Serve Collective Interests.
 

This more powerful and universal statement can be applied to all institutions. For business, it means serving social interests as well as economic goals. In government, it would carry democracy to the grassroots and better serve towns, cities and nations. It could also resolve the present conflict in healthcare between profit and multi-million dollar executive pay versus the welfare of patients and communities. Religious organizations, such as the Catholic Church, would then temper the hierarchical power of the priesthood with the influence of their members. 

That’s what makes this study of such great value that you should want to consider it carefully and apply the concepts everywhere.  This is a definitive analysis of the changing role of business, government and all other institutions.
 

Framing the Forecast
 

In 2018, the TechCast Global Brain Trust of experts estimated a roughly 30 percent probability of this historic change in the next decades. They also estimated a big positive impact, which highlights the great potential such a change could present.

Events have change so dramatically that we can now create a new estimate for 2020 and establish a trendline for this seminal change. Looking over the trends below, I would guess the probability will prove to be far higher, most likely over 50%. 

Here’s how we frame the questions for this survey today :

“Please estimate the probability that the mainstream of business in industrialized nations shifts to collaboration with workers, customers, governments, and other stakeholders over the next several years.”

“Please estimate the impact this would have on society as a whole. (from -10 Catastrophic to +10 Excellent.” 

I invite readers to improve on these two research questions, suggest others and provide any justifications.
 

 

TREND ANALYSIS


PROS: TRENDS DRIVING THE NEW CAPITALISM
 
Progressive Business Is Going Democratic      A robust leading edge of progressive business firms and practices have long thrived around the world:  Johnson & Johnson, Nucor Steel, IKEA, the Mondragon in Spain, labor participation in Germany, self-management in France and  Japanese corporations have practiced various forms of collaborative management for years.  Studies by the consulting firm, McKinsey, conclude “shares of companies that connect effectively with all stakeholders outperform competitors by two percent per year on average.” Jack Welch, the former CEO of General Electric, acknowledged “Shareholder value is a result, not a strategy. Your main constituencies are your employees and customers.”
 
Institutional Investors  Laurence D. Fink, founder and CEO of BlackRock, which holds US$6 trillion in investments, told 1000 of the world’s largest corporations: “Society is demanding that companies… serve a social purpose…  every company must not only deliver financial performance, but also show how it makes a positive contribution to society.” While Jana Partners and CalSTRS, the California retirement system, issued a similar declaration: “… we believe the long-term health of society, our economy, and the company itself, are inextricably linked.” Jeffrey Sonnenfeld, a senior associate dean at the Yale School of Management, said. “It is huge for an institutional investor to take this position across its portfolio.‘‘ He said he’s seen “nothing like it.” 
 
United Nations  The UN Global Compact is an association of businesses committed to universally accepted principles in human rights, labor, environment, and anti-corruption. The association includes over 13,000 organizations from more than 145 countries currently.
 
Coop Movement  The International Co-operative Alliance represents the global cooperative movement, with 284 organizations across 95 countries
 
B Corporations  This group of firms focuses on solving social and environmental problems. Unlike traditional businesses, they meet comprehensive and transparent standards of social and environmental performance, institutionalize stakeholder interests, and build a collective voice through a unifying brand. Amy Prosenjak, a B corporation owner, said “Everybody has to win.” 
 
Benefit Corporations  The Benefit Corporation goes beyond the B corporation to make its status legal. California and another 26 American States recently enacted laws requiring Benefit Corporations to  provide a “public benefit,” be governed to serve all stakeholders, assess social and economic performance annually, and to operate transparently.
 
Business for Social Responsibility  This global network of 250+ companies, thought leaders, and stakeholders shares best practices.
 
Business Culture  These concepts are now practiced among progressive companies and taught at business schools. Recent surveys show that only five percent of CEOs now say they are “mainly focused on profits and not distracted by social goals.”  Other surveys show that more than 80 percent favor stakeholder collaboration.
 
Fortune 500  Over 80% of Fortune 500 companies now publish Corporate Social Responsibility reports, covering issues like governance, community and partnerships. The editor of Fortune said: “an ever-growing group of business leaders … are building efforts to address social problems … Companies are moving beyond fuzzy notions like sustainability and corporate citizenship to making meaningful social impact central to how they compete.”
 
Business Schools One of the most popular courses at the Harvard Business School is “Reimagining Capitalism.” Enrollment increased from 28 students when the course started seven years ago and now numbers 300 students each semester.
  
Public Attitudes  A study by Deloitte finds that 60-80 percent of Millennials want to work for companies with a strong social purpose. A poll found that 51 percent of Americans age 18-29 do not support capitalism and only 42 percent think it is a good economic system.


CONS: OBSTACLES OPPOSING THE NEW CAPITALISM  

The obstacles are enormous, of course. Change is hard, so bold leaders are needed to take on this difficult challenge.

Tradition  Some countries have cultures that are committed to traditional forms of “capitalism” focused on profit and the rights of shareholders, and they are likely to resist the difficult changes that are involved.
 
Investor Rights  Shareholders legally own a corporation, which tends to stress the central role of profit. In fact, shareholders can sue if not satisfied that management is doing everything within reason to maximize their profit. However, some corporations are learning to fight back and are in turn suing their shareholders.
 
Power of Wall Street  The possibility of takeover has traditionally forced firms to focus on short-term gains to avoid losing capital as their stock drops under threat of being absorbed by another company. The collaborative enterprise offers the possibility of resolving this problem by having stock held by stakeholders who are interested in the long term.
 
Democracy is Messy  Collaboration is more time-consuming and difficult than autocratic leadership, and it may fail. The intention may be good, and  some firms may thrive, but there is a serious risk of wasted time, endless conflict, and rising costs with democratic processes.  
  
New Generation of Leaders Needed   Few present business leaders seem able to make this change. A new generation of executives less wedded to tradition may be required to spearhead the transition.
 
Requires Political Skill  Forming working relationships is inherently a political act, so managers must adapt by developing political skills. This requires a more challenging form of “political” leadership and depends on stakeholders being receptive to partnering.
 

Be sure to tell your friends and associates to sign up for this blog at www.BillHalal.com.
 
                                                                        Sincerely, Bill
 
                                                                        William E. Halal, PhD
                                                                        The TechCast Project
                                                                        George Washington University

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Choosing the Top Strategic Studies

What Are the Most Crucial Strategic Issues To Study? 
A Survey of Readers’ Interests
 
Bill’s Blog has been publishing for only a few months,  yet we have done penetrating studies of  “How to Resolve the MegaCrisis” and  “The Coming Internet.” The first was opened by roughly 30% of our subscribers and the second by about 10%. This poses a tough question I would like to your help with – Which topics have the greatest strategic interest?
 
Here are a few hot ideas that seem exciting:
 
1. When Will the Pandemic End?  
Studies of  the pandemic have become overwhelming, so TechCast will focus on more strategic aspects of the crisis, such as forecasting the return to normal living conditions. For instance, when will 90% of people no longer wear masks, social distance, etc?  When will unemployment drop to about 5% again?  How bad will it get? We may also estimate arrival of the next pandemic.

2. Forecasting the Trump Presidency
With the Trump presidency nearing a turning point at the 2020 elections, this could be an optimal time to update our 2016 forecast.  The 2016 forecast also offer a rare opportunity to assess our accuracy. Notice that our TechCast experts proved fairly accurate on policy changes, national performance and a 50% probability for the scenario “Trump Rules.” This small test confirms the value of our collective intelligence method – gathering background data and using expert judgment to resolve uncertainty and reach the best available estimates. Next time we could forecast the winner of the 2020 elections and what happens “After Trump.”
 
3. AI and Future Jobs
This study is one of our most popular reads, and we could update it to establish a trendline, if you are interested. What other aspects of the topic should we cover?
 
4. How Does Artificial Intelligence (AI) Differ From Human Intelligence (HI)?
AI research is working hard to simulate subjective aspects of human intelligence, raising the profound question – What is the essential difference between AI and HI? When an audience is asked this question, I find that 90% plus think there is a fundamental difference, though they can’t tell what it is. This study could explore that crucial issue.
 
5. Technology Is Creating an Age of Consciousness
This is the subject of my forthcoming book, Beyond Knowledge. Smart phones, social media and AI are causing the Knowledge Age to mature and fade into the past, moving us into the next stage of social evolution. Today’s “post-factual” nonsense is a prescient harbinger as it based on beliefs, values and emotions and other forms of consciousness. Whatever one may think of  President Trump, he is a master at shaping consciousness. This means an Age of Consciousness is here today, though we may not like its current form.

 6. State-of-the-Art in Strategic Foresight
TechCast has done extensive work defining strategic foresight practices, including a recent survey updating my landmark study Strategic Planning in the Fortune 500. This may be a good time to answer further questions as change reaches historic levels.
 
 7. Prospects for the Internet of Things (IoT)
The Internet of Things (IoT) is one of the hottest emerging technologies around today, yet it is fraught with obstacles, especially security issues.  We struggle with hacking, identity theft, viruses and other security problems, so imagine what could happen when billions of devices are connected to everything around the globe? This study could update our IoT forecast.
 
8. Is Life Extension Really Coming?
Yes, life expectancy is increasing steadily, but that’s due to better health care, nutrition, public safety and other ordinary causes. Real life extension would take us beyond the 120-year limit that seems to set by genetic factors. Is it really possible to live 150, 200, 300 years? When will this be likely? By what means? Stay tuned.
 
9. Forecasts of the Space Age
As a former aerospace engineer on the Lunar Module of the Apollo Project, the coming Space Age is near my heart. My best thinking is that the world will enter this final frontier in earnest about 2050 after forming a unified global order. Say the word and we will explore this fascinating topic.
 
10. When Will Self-Driving Green Cars Enter the Mainstream?
Tesla is a step in the right direction, but it will take widespread renewable energy, much better automatic driving systems and far lower prices to make self-driving, intelligent, ecologically benign cars a widespread reality. Should we pool our collective intelligence to forecast when this will happen?
 
11. Top-Ten Tech Breakthroughs
A great study would use the knowledge of our experts and readers to assess the prospects for various tech breakthroughs and identify the top-ten that are most strategic. Strategic techs are those few likely to arrive in 5-10 years, with the greatest payoffs and broadest scientific influence. This would a fine study.
 
12. Top-Ten Social Trends
We could do the same study to select the 10 most strategic social trends.
 
13. Top-Ten Wild Cards
Ditto for wild cards.
 
14. Redesigning Capitalism
This is a hot issue today as the world is increasingly disenchanted with Big Business and the dominance of profit. TechCast has been forecasting the arrival of a quasi-democratic form of corporation for years – and it is starting now.  Yes, I know this rankles those who are afraid of “socialism,” but let me assure you this is not government control. Collaborative problem solving among all stakeholders creates added value for all involved, including greater profit for shareholders. It can be a competitive advantage. 
 
15. Rise of the Asian Century
This study would provide historical context on the “American Century” starting after WW II and the “British Century” before that.  We could focus on how great powers have changed in the past, and what might happen in the future as America loses its hold on global dominance. We could forecast the rise of Asia and its strategic implications. 
 
Please Tell Me What You Think

 
I really want to make Bill’s Blog a more interesting and useful source of strategic knowledge for our readers. Please take a few minutes to email me at Halal@GWU.edu with your top choices for topics to study. You can just send the numbers of topics you like (EG, No. 4,5,9, etc). I will do my best to analyze your responses and create a research agenda that will delight us all.
 
Be sure to tell your friends and associates to sign up for this blog at www.BillHalal.com.
 
                                                                        Sincerely, Bill
 
                                                                        William E. Halal, PhD
                                                                        The TechCast Project
                                                                        George Washington University

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Forecasting the Trump Presidency

This is a slightly updated version of our 2016 study forecasting the Trump Era.

The original study drew on the expertise of our global network of 150 international thought leaders. We realize that political issues are highly controversial, but the Trump presidency is one of the pivotal developments of our time, and we think it deserves objective research. This report includes a forecast of changes in Federal policies, a forecast of national performance, three alternative scenarios and comments from the respondents.

Based on all this data, here’s quick summary of what we forecast in 2016:

Growing Turbulence and Uncertainty  

A striking result is the wide variation in expert estimates. Some are at opposite ends of the scales. We think this reflects powerful drivers of change and widely differing actors are now emerging. This also tells us there is a strong need for sound strategy, especially focusing on planning for crises and contingencies.

Major Change Plus Wild Cards 

Our analysis suggests that most of these policies are moderately likely, while some are considered unlikely. The expected social impact is generally considered to be quite damaging. Signs of wild cards are seen in the prospects of an alliance with Russia and the impeachment of Mr. Trump; both are rated to have positive results.

Mediocre Performance 

Our thought leaders also estimated various indicators of US national performance. They expect only modest economic growth, with Trump’s approval ratings likely to remain about 40 percent.

US National Policy Changes 

We asked our experts to judge the likelihood that the federal government will deport illegal immigrants, impose tariffs or import taxes, curtail trade agreements, repeal the Affordable Care Act, muzzle the EPA, restrict Muslims, partner with Russia, reduce taxes on the wealthy, provoke a war, cancel the Iran nuclear accord, deregulate banks, and even impeach Mr. Trump. Here’s a quick summary of key themes that seem to be emerging from the data:

 

National Performance Forecasts

This table updates our 2016 forecasts by adding data for July 10, 2020. Note that most forecasts proved reasonably valid, except for the stock market gains.

 

  2016 Forecast 7/10/20 Actual
Average GDP Growth/Year 1.5 % ~ 2 % until virus
DJIA Index 21,000 26,000
Trump Approval Rating 39% ~ 40%
Increase in Debt $6.5 Trillion $5.4 Trillion +

 

Alternative Scenarios

Following are the forecasts made in 2016. We are  considering  updating these estimates and adding a fourth forecasting the 2020 election.

Trump Rules   Probability = 50%, Impact = -.5 (-10 to +10)

President Trump inherits an economy that is extending its cycle of economic growth. Deregulation and lower taxes further boost business profits and provide gains for his supporters.  Trump strengthens his hold on public opinion as a leader who gets things done. This allows him to run the nation like a corporation, treating allies as good team members and punishing enemies. Trump takes credit for successes and blames scapegoats for failures, while protests are smothered under dubious counter-claims and discredited. Congress goes along, encouraging him to dismantle much of the EPA and other disliked programs. By the end of his first term, Trump has transformed the US into a more purely capitalist and authoritarian society, somewhat isolated and in slow decline.

Trump Changes  Probability = 27%, Impact = 3

 Donald Trump is a brilliant strategist, and when the Congress shifts to Democratic control in 2018, he recognizes that his political survival requires a major change of course. As crises mount, his family and advisers press him to “pivot”’ toward being more traditionally presidential and cooperative. He modifies policies to appease critics, stresses the good progress he has made, and becomes more friendly, while continuing to confuse opponents with doubtful charges. The president is persuaded to yield on issuing incendiary tweets, and some opponents are even mollified by the Trump charm. Congress is pleased to see him appearing more reasonable, and Democrats approve the less controversial parts of his agenda. The US enjoys some prosperity and peace, although with occasional flare ups of political crisis and conflict.

Trump Falls   Probability 39%, Impact = -1

The voices of protest become so persistent that they overwhelm Trump’s defenses, making his presidency untenable. The administration suppresses protests with force, causing violence to grow out of control and bringing normal life to a near halt. Enormous political pressures force Congress to work around Trump and assume effective leadership, with support from Vice President Pence and key Republicans. The rest of the world goes on while the US struggles with this constitutional crisis. Global agreements stall, and the world becomes increasingly chaotic. China becomes the dominant world power, with Russia also gaining influence. Trump resigns rather than suffer impeachment, and Congress hands power to President Pence.

Typical Comments

Here is a small sample of expert comments. This is only a cursory look over a representative sampling of expert opinion, but it suggests two contrary themes that seem to be emerging: Increased business profit and economic growth—but failed promises, crisis, conflict, and lost support.

  • If Trump is anything, he is a populist. And with a one-party Congress, they are likely to achieve some positive ends.”           
  • “Increased spending on infrastructure projects in the US along with decreased taxes should improve the bottom line.”           
  • “Trump is pro-business, and profits will be made.”
  • “Many of the promises made during the campaign will be abolished, making the followers turn away from him.”
  • “Much of the USA will grow tired of Trump’s antics and rhetoric.”
  • “Instability. Promises not kept. Other nations will compete equally with the same tools.”
  • “In a post-truth world of lies, Trump has more to live up to than he will actually deliver on.”
  • “It is likely we will be entering inflation and a severe recession. Wall Street and Main Street will be continuing their stark separation.“     
 
Recommendations

The report will also include advice for adapting to the Trump Era. Some tentative recommendations include:

  • Study trends, expert opinion, and forecasts such as this to prepare for strategic contingencies such as a global depression.
  • Develop decentralized organizations of self-supporting units able to cope with hyper-change.
  • Search out creative niches that offer opportunities for advantage, such as prospects for modernizing US infrastructure.

Survey Results on the Coming Internet:   Yes to Security, Decentralization and Immersion  

It is our great pleasure to present final results of this study exploring where the Internet is going.  
 
First, a little background. Our blog of May 30 highlighted George Gilder’s new book, Life After Google, forecasting how blockchain technology will create an Internet that is secure, decentralized and sensually immersive.  Using our method of collective intelligence, our blog of June 13 presented comments from several experts to frame these issues more carefully.  

This blog of June 27 presents results from a survey of 20 experts who answered our survey questions.  The responding experts are listed below, followed by detailed results using bar charts and comments.  Responses are often less that 20, as respondents do not answer all questions.  This is a small sample, but anything more than a dozen responses is sufficient to get into the right ballpark. 
 
Here’s a quick summary of what we learned:

 
Security May Arrive About 2027   

We found a sharp division of opinion, with roughly half of our experts thinking there is little or no chance that the Internet would become secure — and the other half thinks there is about a 60% probability that blockchain and quantum cryptography will solve the problem at about 2027.  After noting the success of Gilder’s previous forecasts, we tend to accept those who agree with Gilder.

Decentralization Likely About 2028-2030

We find some consensus around a 60% Probability and Most Likely Year About 2028-2030. The critical technologies are thought to focus on blockchain, but quantum, AI, biometrics and the Internet of things (IoT) also thought to offer localizing capabilities.

Immersion  Highly Likely About 2031-2032

The experts show good agreement on a 70% probability that immersive capabilities will arrive about 2031-2032.  They also suggest a variety of technologies will make this possible: blockchain, VR and AR, gaming, AI, IoT and a useful brain-computer interface.
 
Despite pockets of doubt and uncertainty, we think this study tells a compelling story about evolution of the Internet.  The continuing advance of computer power, possibly using quantum, nanotech and photonic technologies, is likely to make complex blockchain platforms feasible over the coming decade. Along with applications of quantum crypto and AI, a new generation of Web systems is likely to greatly improve security and move control from tech companies to individuals. Some confusion and security failures will remain, of course, but glitches will be accepted by a younger cohort of users. The development of richer Internet experiences using VR/AR/XR, biometrics, AI, the IoT and holograms is very likely to bloom into the Metaverse long anticipated. Obviously, many other trends will also play important roles in the new Internet, as noted in our experts’ comments.

The strategic implications should be formidable. The status and control of the large tech companies is likely to shift to users, and the Internet service providers (Verizon, Comcast,  etc.) may face competition from satellite systems flooding the air with cheap and abundant access. Apple and Elon Musk are launching satellites even now and expect to envelop the Earth with high-capacity broadband in a year or two.  In addition to fierce competition from these new sources, the entire supply chain of ICT equipment and services will be disrupted by an advanced generation of suppliers. Users should gain more sophisticated and immersive capabilities that are needed for the high-tech society ahead.

This is small study, but TechCast thinks it illustrates the power of our 2nd generation website in providing authoritative strategic analyses of hot topics quickly. Thus far, we have solved the  MegaCrisis by identifying 5 universal principles of a global consciousness, and this study outlines the new Internet architecture that promises to revolutionize life online. TechCast is considering our next strategic topic for study, and we welcome your opinion. Email us at Halal@GWU.edu to suggest topics you consider worthy of attention. 

 

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