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AI and Innovation is Set to Skyrocket Market Value, Transform Industries and Impact Sustainability
We will all have to become more comfortable with technology and its impact – Board Directors, CEOs, Architects, Doctors and Teachers alike. The convergence of technologies will dramatically impact us all over the next seven years.
And they will all have to be both guided and supervised by boards for its impact on Sustainability and Climate Action. And boards will have to get training, as outlined below.
The investment company ARK, founded and led by Cathrine Wood, provides since 2017 an Annual Research Report with comprehensive analysis of technological convergence and its potential to revolutionise industries and economies at a global scale.
This years report Big Ideas 2024 should be of great interest to all investors and board directors.
“Catalyzed by breakthroughs in artificial intelligence, the global equity market value associated with disruptive innovation could increase from 16% of the total to more than 60% by 2030. As a result, the annualized equity return associated with disruptive innovation could exceed 40% during the next seven years, increasing its market capitalization from ~$19 trillion today to roughly $220 trillion by 2030.”
There is no magic red button to stop AI – Sam Altman
Table of Contents
The Five Innovation Platforms
There are in particulate five Innovation Platforms that are converging and Defining this Technological Era;
AI
Public Blockchains
Multiomic Sequencing
Energy Storage
Robotics
AI is the central technology catalyst
Where AI serves as the central technology catalyst and is accelerating even faster than previous forecasts has shown.
Energy Storage impacts Climate
Besides the AI, the Energy Storage area, that directly impacts the Climate, is primarily focused on Autonomous Mobility and Advanced Battery Systems.
Supporting findings from WEF report shows Impact Fingerprints
The World Economic Report on the Top 10 Emerging Technologies 2023 points to the same areas; Flexible batteries, Generative artificial intelligence, Sustainable aviation fuel, Designer phages, Metaverse for mental health, Wearable plant sensors, Spatial omics, Flexible neural electronics, Sustainable computing, AI-facilitated healthcare. The report also outlines the Impact Fingerprint, where they in anintererting way assess in a spider diagram each technology’s impact on People, Planet, Prosperity, Industry and Equity.
For example Generative Ais impact fingerprint is assessed like this;
Board Directors Capability in Focus
A key competence going forward will be how to be a creative thinker , also for board members both in your guidance and in your supervision.
Board work is already a very challenging and complex task, and AI will bring that challenge to a new level.
Boards Impact Forum will provide an interesting and important education for Board Directors starting in March; “Boards Oversight of Responsible AI for Value Creation”.
The program follows the Academic Research “AI Leadership for Boards”, with a balance of Boards Guidance with Boards Supervision of AI , Led by Chalmers University of Technology / Stockholm School of Economics together with Digoshen and Next Agents, reviewed by MIT CISL and INSEAD and in collaboration with Combient & selected Investor/Wallenberg Companies.
This program will help you, as a board director, to navigate the guidance and supervision of artificial intelligence, and the big data on which Al is based.
The program includes an interactive online platform with participating cohort interactions, 24 Online Program Modules, Quizzes, 5 Live Peer Exchanges, and a Personal Reflection and Intervention plan. With full completion of the program, you will get a Certificate from Boards Impact Forum and the partners Digoshen and Next Agents.
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