Session 10

After a semester's worth of hard work, we have approached the final lesson aimed at covering the syllabus. The emphasis of this session was placed on assessing technologies and forecasting the future developments to develop a framework for understanding what comes next. My key takeaway message from the quotes given is that it is important to look into the future, speculating what we might need and preparing for it, in order to create a sustainable future that is viable and desirable. Forecasting also allows us to be prepared for the possibility of future disasters, in which case knowledge about the disaster and ways that we can undertake to manage it will be useful in ensuring the survival of mankind. An assessment of technologies on the other hand, allows us to be aware of past mistakes to ensure that we will not repeat them in the future. Thus, I felt that this lesson was meaningful in concluding our journey in learning about Technology and World Change. 

The lesson started with a video on "Mastering the Megatrends", which highlighted the two megatrends that will shape the future: Urbanisation and Demographic change (Surge in population growth). These phenomenons give rise to problems that require mankind to develop methods to address them. Some of the concerns raised in the video include the problem of scarce natural resources that underlines the importance of clean water. Siemens has been developing innovations to cope with this and make clean water available to all by searching for viable sources of water and purifying it. Another concern raised is the high demand for energy, which requires new technologies that are economical and environmentally friendly. In predicting consumer patterns, Siemens has constructed innovative highly effective power plant solutions and efficient mining methods to enable urgently required natural resources to be exploited. Similarly, increasing traffic congestion is another important consideration addressed in the video and forecasting has allowed mankind to develop intelligent control systems to ensure the smooth flow of traffic. Digital hospital that electronically records patient healthcare information help save valuable time, cut costs and increases efficiency as it reduces the workload of physicians, while technologies and systems that ensure fire safety, building security and monitor and control facilities can enhance the level of protection and control to satisfy man's basic need for security. Such innovations created as a result of technology assessment and forecasting helps increase the quality of life with forward looking solutions, demonstrating the importance of this framework in setting guidelines for actions that can significantly impact our future. 

The next video that we watched on "Future, Technology and the Next 50 years Megatrends" gave us an insight into the different technologies that will be implemented in the future, highlighting many interesting developments that we can expect to look forward to such as electronic books that we can interact with, higher speed computers with better performance and even the possibility of replacing computers with lighter and smaller communication devices that stores an almost infinite capacity of data through cloud computing, augmented reality that allows us to scan objects and find out more about them instantly and effortlessly, 3D entertainment that removes the need for control systems and allows the user to be the controller of the game with just their body movements, GPS system embedded inside shoes and even our bodies, cars able to communicate with each other and robots in the healthcare sector that can replace 20% of our tasks. All of these reflect the potential that technology carries in enhancing connectivity, mobility, productivity and efficiency. Awareness of current trends and developments are crucial in forming the basis for future innovations since it serves as a yardstick to predict what we might need or want in the upcoming years. Indeed, our professor is accurate in quoting that "we are living in exciting items!" With so much to expect from emerging and future technologies, technology assessment and forecasting have brought much anticipation for a better and more advanced world that is waiting for us to venture and seek out new possibilities. 

Another video showed to us during the course of the lesson that I felt was insightful was "Tracking the future - Global Trends", where the speaker highlighted major key trends that were foreseen to be extended into the future. This relates very closely to our topic on assessment and forecasting of technologies because it provided direction for exploration and innovation to occur. Some of the interesting observations that I noted from this clip can be summarised by the acronym "FUTURE".

F: Fast-moving world, Frugal world (As a result of economic crisis)

U: Urbanisation (Movement of huge numbers of people into cities)

T: Tribal (New tribes of groups of people who share new interests and commonalities are emerging. For example, the Internet community)

U: Universal (Constant change)

R: Radical change

E: Ethics (Ethics in business as we move out of economic crisis: Need for corporate social responsibility and transparency in business), Environmental concerns 

Considering that the implications of each trend is likely to have a significant impact on Man and the way we lead our lives, it is necessary that we keep track of them, evaluate the consequences and construct viable solutions to address the concerns. Nevertheless, while technology assessment and forecasting provides the framework to learn and expand on current developments by capitalising on opportunities created from unfulfilled desires and unmet needs, human motivation and commitment to act on these trends are equally or if not more important in leading to new innovations. 

A commonly used quote is that change is the new constant and I fully agree with it. To expect things to remain the same would be a myopic view to possess especially when Man's desires and needs are changing constantly and technologies are evolving to suit the new market demand each time. Thus, corporations that utilise technologies, information, methods and systems rooted in the past will merely capture valley opportunities, whereas those that look towards the future for cloud opportunities will ultimately be able to gain summit opportunites if the feasibility, functionality and utility of their innovations have been tested and proven. As a result, the capacity of strategic foresight should not be underestimated as it opens one up to opportunities for future growth, while postulating potential problems to prevent underpreparedness and chaotic situations with high costs attached to it, from happening. Think about this: In a world where information is available to everyone with the increasing connectivity and accessibility to a shared pool of resources, where will an individual, an institution or a political body's competitive advantage lie in? Most people are not aware or are not exposed to this notion but in fact, forecasting and the ability to come up with different and more accurate images of the future is the next frontier in planning, innovation and prevention against rude unexpected shocks  that can serve to throw us off balance and cause us to lose out. This is why it is important for us to know about technology assessment and forecasting, and put it to good use. 

This has been a very meaningful session, with content that nicely wrapped up the holistic course structure. I truly enjoyed today's lesson and would rate it a 10/10.

Cheers,

Glenda