2. Exponential Finance
Exponential Finance celebrates the incredible opportunity at the
intersection of technology and finance.
Explains the world how exponential technologies are impacting
the financial industry.
Origin
After the US financial crisis the finance industry started to prosper
with some new tools and platforms.
In 2009, Bitcoin was released and crowd funding pioneer Kickstarter
was launched.
Soon after these many forces started to reshape the finance industry.
Significantly they got attention from banking and venture capital
investors.
Definition
3. There is a big opportunity available to engage people in a different way.
A fundamentally different way of doing banking is developed which
will make the industry a better place for the consumers.
It will help you to transfer money between two phone numbers
anywhere, anytime a day in real world, which is not possible in any
banking sector.
Do You Know?
There are 7 billion people in the world, 80% of the
transactions are done in paper cash. So on every $5 that
you earn, you have to pay financial services?
Which means you are transferring your money and
paying service charges for your cash?
4. At Exponential Finance 2015, Ric Edelman, founder of Edelman
Financial Services and a top financial advisor in the US, said,
“ I firmly believe that in the next ten years, half of all the
financial advisors in this country will be gone.”
5. What does Exponential Growth looks
like in Real Life?
This shows a 3000x Storage Capability and Performance Improvement
in 11 years and over 90,000,000x since 1956.
7. He offered his long-held belief on what the future holds for humans and
artificial intelligence.
He is working on a project which has been a 50-year quest to recreate
human intelligence.
By 2029 he thinks he will be able to achieve human levels of
intelligence.
He explained that his team is utilizing numerous AI techniques to deal
with language and learning and they developed a neural network that
learned how to play video games successfully.
Ray Kurzweil
The Co-Founder of
Singularity University
and Director of
Engineering at Google
8. Exponential Finance conference was conducted by CNBC’s Bob Pisani,
which was focusing on artificial intelligence and its implications on
humanity. In the Conference Kurzweil said,
"We are going to directly
merge with it, we are
going to become the AI’s.
"Mastering intelligence is
so difficult that we need
to throw everything we
have at it."
"We've
always
used our
technology
to extend
our reach.”
9. Exponential technologies include artificial intelligence (AI),
augmented and virtual reality (AR, VR), data science, digital biology and
biotech, medicine, nanotech and digital fabrication, computing systems
and robotics.
These technologies are rapidly accelerating and shaping major
industries
Exponential Technologies
10. Solutions to the world’s most pressing challenges lie in the intersection
of these exponential technologies.
When these technologies are used to attack a persistent challenge, the
possibility of developing a sustainable solution becomes much more
likely.
Example: Solution that might use personal health records, a new
biosensor, and the data from smartphones to predict the presence of
cancer.
Exponential Technologies
11. The rate of progress in any evolutionary learning environment increases
exponentially. The more advanced a system that improves through
iterative learning becomes, the faster it can progress.
The Law of Accelerating Returns
12. Moore’s Law is the observation that the number of transistors per square
inch on integrated circuits has doubled every 18 months since they were
invented in 1958 and the prediction that this trend would continue into
the foreseeable future.
Moore's Law
13. Nested S-Curves
When one technology reaches its maximum another technology takes its
place. The image shows series of nested S-curves. All together these
technologies creates a very smooth S-Curve.
A successful technology should blend together multiple S-curves.
14. Peter Diamandis’ 6 D’s
Peter Diamandis constructed a useful framework to help navigate the
exponential journey that a digital technology takes, known as Peter
Diamandis’6 D’s.
15. Global Grand Children
These are the areas where they see some of the largest problems in the
world and they call them as Global Grand Children. Here the role of
technology can be magnificent.
16. Action Plan
As Technology is increasing at an exponential rate there can be
many opportunities seen in Pakistan. We need to come up with
disruptive Innovations to make a place in the market. In the fast
moving world one breakthrough technology is not sufficient for the
growth in long run. Continuous emergence of technologies are
necessary for promising future.
Diamandis’ 6 D’s are a very predictable path that we see over and
over again and it can be followed in our businesses to prosper in
future. The technologies are rapidly accelerating and shaping major
industries and it is said that by 2030 a computer will work as a
human brain and will cost only $10,000. So in order to survive in
this world we need to grow exponentially in all sectors of industry.
How can we Implement this in Pakistan
17. The application of Bitcoin can be useful for the transactions going on
in Pakistan. There is no point of asking someone else to transfer your
hard earned money from one place to another and at the same time
paying service charges to them. Application of this technology will
be beneficial for the industries in Pakistan.
Similarly conferences like Exponential Finance should be conducted
in Organizations to enhance the thinking process of the employees
and to teach them to come up with out of the box technological
advancements for the betterment of the society.
Bitcoin Technology
Conferences
Action Plan
18. Successful and renowned personalities from all around the world
should be invited to educate the employees on exponential growth
in every field. Participants should be allowed to connect with the
speakers and their fellow attendances.
Community
We should build a community for the like minded individuals who
are change makers and want go out there and want to be the
thinkers and doers in their organizations.
Action Plan
