It seems obvious that the future of wealth and prosperity will be driven by expertise with advanced algorithms. Some call it the next Space Race, others the next Arms Race, either way, we are entering the golden age of the algorithm. This is not only a national race, but also a commercial and individual race too. And calling this an Arms Race or Digital Warfare is probably more accurate than a Space Race.
We have already heard about an AI fighter pilot that is more performant and capable than the best of the best human test pilots, and AI applications are helping to defend against security cyber attacks. Computers are hacking computers. How is this not digital warfare?
But this isn’t just about traditional warfare, this is about business and commercial success too. Only those companies that embrace the benefits that advance algorithms can deliver will survive. This will be the new major differentiator for firms. One only has to look at some of the trailblazing firms to already see this happening. Business models are changing, dramatically, with global startups, unicorns, having defined the landscape of many traditional businesses.
Algorithms will have a massive impact on individuals too. In many cases they already are, from mortgage approvals, medical diagnosis, recommendations for purchases, to who you should date, they touch our lives in so many different and usually hidden ways that one can argue we are already being shaped and controlled by the power of the algorithm. We do this as we trust that data holds the universal truth and that we are making better decisions by putting our faith in the algorithms that analyse these huge datasets.
This raises alot of questions around AI Ethics, AI Governance and AI Safety, these are hot topics that many high profile advocate is highlighting a need for more investment and research on these subjects to support the rise of AI in general. Without these support frameworks the algorithms could spin out of control.
Are you ready for the golden age of algorithms?