Ever wondered how companies like Uber, Snapchat and Airbnb became billion dollar companies in just a few years? While taking Salim Ismail’s all-day course at The Idea Center I learned about how technology was impacting our society.
Exponential Organizations are companies using lean startup methodology along with exponential technologies like 3D printing, solar, sensors, drones and Neurotech to disrupt industries. The term ‘exponential’ is used to emphasis the idea of how fast these companies grow and reach billion dollar valuations.
During this course we went a deeper learning about how new companies, big corporations and even countries were using exponential technology. Here are four things I took away.
1. Software is eating the world
Everything is becoming information enabled and according to Salim “Life is actually information enabled”. You can call a driver with the push of a button using Uber or order groceries using Amazon Prime. Companies are becoming information-enabled and this is creating the uprising of on-demand services we are seeing with the likes of Uber, Airbnb and Instacart.
Software is doing the same thing for the world. This technology goes beyond just startup companies. Big Corporations and even Countries are using technology. In Singapore, for example, 7% of the agriculture is now being vertically farmed. If that does not meet your taste, Hershey is also developing a 3D printer that prints chocolate.
2. “My 3rd Year Old won’t need a drivers license” – Salim Ismail
Autonomous cars use technology so you can ride in the car without a driver. Big corporations like Google have already started driving its autonomous vehicle in California and it will soon be in Florida as well. A future without needing a license is very possible as apps like Uber, Lyft and Car2go are already things college students like myself use to get around.
3. How Exponential Technology will affect kids
“So how do we teach our kids about this technology?” one event attendee asked. Salim’s reply was “They are already being exposed to it”. A point that I believed is very accurate. Kids today are learning how to use smartphones at the age of 2 with no help from their parents.
In the same way young children are being exposed to these technologies online or through educational program. Programs in Miami like Wynwood Maker Camp and Code Fever are teaching kids how to code and use sensors like Arduino as early as middle school.
4. Exponential Technology is impacting all aspect of our lives
Every area of our lives is being affected by technology including health care. Technology is turning every part of health care into a digital environment.
What that means is you can track your health, manage your prescriptions and even speak with a doctor before stepping into a doctor’s office.
The explosive amount of change happening as a result of technology seems to be endless. It also brings about questions on privacy. One area Salim warns about is how our 4th Amendment is disappearing because of technology. With exponential change we may need to reassess the way we govern ourselves. Whatever the case this will not stop the exponential change happening all across the world.
Gregory Johnson is an entrepreneur and a student at Miami Dade College.