Archive May 2015
The world is changing and with it comes exciting new opportunities for work. In fact, many of us will find ourselves working in newly created industries and roles in the next decade or two.
Australian business futurist, Morris Miselowski predicts that boring tasks will be automated increasingly, freeing workers to take on more stimulating jobs and that this is something to embrace – not to be scared of. Work might become more stimulating for many of us in the future but we’ll need to upskill to take on the new challenges.
Miselowski spends his working life immersed in the future and has given SEEK Learning an insight into the workplace of the future.
Future job fact 1: In the future, more of us could be freelancing or contracting for multiple employers. “We need to get away from the notion of a particular skill,” says Miselowski, who also predicts that we will have six careers and 14 job changes in our lives.
Future job fact 2: Disruptive innovations will continue to change the way existing industries operate, following in the footsteps of companies such as Amazon, Uber and Airbnb. This same trend will be seen in the workspace, where technology will make work more transactional. Workers who embrace these changes and become more entrepreneurial may find themselves freed from the 9-to-5 grind.
“We will be seeing many jobs not being done Monday to Friday,” says Miselowski, particularly as businesses begin to employ more freelancers for one-off jobs. Service roles will increase as our growing need for instant gratification means we’ll be employing people to do one-off tasks for us through websites such as AirTasker.com.
Future job fact 3: Soft skills will rule. As explained by Miselowski: “Hard skills will be something we will gain as we need them, however soft skills such as empathy will allow us to be flexible.” Work on those interpersonal skills by studying management, organisational behaviour, or human resources, and paying attention to how you interact with those around you.
Future job fact 4: Professional success will require a flexible attitude to training. Start now, and keep up with changes in your industry. Read up, network, attend conferences and workshops, and look for opportunities to expand your skill set whenever possible.
Future job fact 5: Unsurprisingly, Australian jobs will be more technology dependent. We will all need to keep our computer and communications skills up-to-date by keeping tabs on emerging technologies, and challenging ourselves with short courses and workshops.
Future job fact 6: As computers relieve us of the dull repetitive jobs, we’ll be freed to do much more interesting work. Actually, we’re already starting to see these changes occur. One of Miselowski’s insights relates to nursing where, in the past, a nurse was needed to do patient monitoring. These days a machine can monitor a patient’s vital signs, which frees nurses for more specialised roles. It’s what we’ll see more of in the future: “Technology answering the questions and humans questioning the answers,” says Miselowski. “That is the litmus test of whether a job or a skill is going to stand up long term.”
That’s 2020. If you’re intrigued to know what we’ll be doing in 2050, here are some of Miselowski’s predictions for future jobs:
Body part maker: Using 3D printers to make replacement lungs, hearts, livers, kidneys, corneas and more.
Transhumanist designer: HR role that involves controlling the organisation’s robots.
Domestic robot repairer: The person who’ll repair your home robot when it breaks down.
Gene programmer: Responsibilities include programming our genes to cure and prevent disease.
The most often asked question I get is “where do you get your information from” and I always stumble over an answer, not because I don’t want to share, but because everyone’s looking for a fountain of future wisdom and it just doesn’t exist, but one of my most trodden paths to future discoveries is not through reading about it, but rather by experiencing and living it firsthand and that’s why I travel extensively visiting often with bleeding edge thinkers, doers and investors.
So, after much behind the scenes efforts, wrangling, cajoling and networking this morning I’m launching the most audacious innovation offering of my 34 year foresight career and adding to my repertoire of consulting, speaking and advising on the future with a hands on 8 day tour of the future, so here’s my kickoff blast out……
I am so excited but its taken me 34 years to achieve it, and now for the first time ever I can do much more than talk to you about innovation and the future, I can actually take you to it and introduce you to all the amazing people who are creating it.
So here’s the most incredible offer I’ve ever been able to make, I want you to join me on an ultra exclusive, absolutely rare
I’ve sat for here days trying to figure out just the right words to use to convince you to come with me on the most extraordinary trip of your business life.
I could tell you about an 8 day trip to Israel’s Silicon Valley to explore innovation first hand, to meet, hear, speak and network with some of the world’s most incredible entrepreneurs’, innovators, nerds, geeks, professors, politicians, business titans, investors and the every-person.
How from each incredibly open and willing-to-share person you’ll hear about their innovation and entrepreneurship journey. About their struggles and successes. You’ll explore what’s at their innovation and business heart. What innovation is to them. Where the spark of their idea came from. How they chased it down. How and where they found money and resources. How and where they found their great collaborators and champions. How they structured their businesses to grow and scale and how they have failed and achieved along the journey.
And through these 30 plus personal insights our select band of intrepid entrepreneurs will come to better understand the beating heart of innovation and find themselves forever different.
I could tell you that earlier this year I took this journey alone and met with one of Israel’s largest angel investors, who shared openly with me his journey of selling Waze, the world’s largest community based traffic and navigation app, to Google for a billion dollars.
How my adventure continued on to Bar Ilan University to meet with a fellow futurist, Israel’s most lauded and awarded foresight thinker, where we talked and explored all things virtual, played with 3D immersions and oculus rift and delved deep into the human psyche behind innovation and risk.
I could tell you about my afternoon at my own private pitch club, where Israel’s premier incubator organised for me to hear about tomorrow’s ideas – today, directly from those inventing them.
I could tell you how this experience changed my perspective on innovation. Given me a sharper and more pragmatic insight into what’s really ahead and where and when to expect it. I could tell you how this has dramatically changed the advice I’m giving to my global clients and speaking about in board rooms, conference and in the media.
But that’s just it, I don’t want to tell you. I want to show it to you and share it with you.
So here’s’ the crux of it…..a tour as unconventional as this, as purposeful and powerful as this, can’t be sold by a conventional brochure, itinerary, list of hotels, or impressive snapshots, you have to want it and trust in it.
Sure we’ll stay in great hotels, have great all-inclusive meals. Breakfasts with each other every day. Lunch in a different board room each day and dinner out and about with not just us and a great bottle (or three) of wine, but with different invited guests each night there to provoke, extend, inform and challenge us.
But here’s’ the kicker, the final itinerary and who we see won’t be set until we know who’s coming along.
I’ve partnered with Israel Australia Chamber of Commerce, and they have a vast and proven record of organising these experiences and having them attended by CSIRO, NAB, Telstra, Macquarie Bank, Coles Myer, Monash University, State and Federal Government Ministers, and countless other big brands, companies, universities and government officials.
But this safari is just for us, the true innovator and entrepreneur. I’ve reengineered the tour and turned it into a safari, so that together we can hunting for innovation. I’ve gotten rid of all the fluff and pomp and ceremony to make it 100% business practical and to provide a true ROI for your time and effort and I’ve even asked them to do to hold off finalising the itinerary, so that together we can purpose build it for us, based on who you want to meet, see and hear.
I will ensure we see and meet those that we should and must. That we learn deep lessons from the Israeli innovation ecosystem that we can take back to our businesses. That we hear from the politicians and investors about what they see ahead and that we spend quality time with the most audacious of trailblazers trying to get inside their head and their thinking.
But I also want to ensure that every person coming along gets to hear about, see and meet someone from their industry or interest area, so I’ve also set aside one afternoon for us each to have our own meetings with counterparts, contacts or businesses, either of your choosing, or recommended to you and set up for you by the Israel Australia Chamber of Commerce.
And to make sure you’re ready to squeeze every ounce of innovation juice from your Innovation Safari I’m going to teach you how to be your own Futurist. I’m going to give you a crash course in Foresight 101 and share with you my shortcuts and insiders secrets and tips into how I pick trends, interpret them and make profit from them.
I’m going to give you the foresight tools, language and insights you’ll need to find, understand and interpret the horizon signals for yourself, as well as pledge to stand side by side with you throughout the week and coach you to ensure that you don’t miss any of the learnings, insights and opportunities and also provide you with ongoing translations from geek and nerd into plain pragmatic profitable business English.
This tour is not for the faint hearted.
It is for Captains of Industries, tomorrow’s thought leaders, ferocious entrepreneurs and boundless influencers who refuse to wait for their industries and business to be disrupted, or even worse be made irrelevant, and who instead demand to do their own disrupting.
If you are sick of just talking, reading and guessing about innovation and instead want to breathe it, experience it firsthand and roll around and get dirty in it, then this 8 day Innovation Safari to the heartlands of the world’s second largest silicon valley, is the business journey you’ve been waiting for.
I truly hope that you will join me in Israel on the 10th October for an incredible 8 day Safari into the heart of innovation so that together we can see what beyond tomorrow might look like for our business and ourselves.
Founder and Lead Futurist
Eye on The Future
In the 1973 slapstick comedy Sleeper, Miles Monroe (played by Woody Allen) escapes a villainous 22nd-century dictatorship by disguising himself as a robot.
Monroe, who has been cryo-preserved for 200 years, lacks a biometric identity so is an outcast. He sensibly hides among a bunch of domestic robots, which are common in the 22nd century.
Now the present has caught up with the future. Robot butlers and robot restaurant waiters are a reality you won’t have to time-travel 200 years for.
The technology is already here but what’s missing is affordability and social acceptance, says business futurist Morris Miselowski.
A robot server in a restaurant is not that far away “if we want it to be”, he says. “At the moment, our robots are quite ordinary and they’re used very much as a promotion tool or marketing tool.
“To have a robot is something unusual.”
But labs already produce more sophisticated machines. “We have robots that are quite adroit, better than people at avoiding people, and will stop on a dime if they bump into somebody, and can serve drinks without spilling them,” Miselowski says.
The first intelligent robotics are being harnessed domestically and commercially. Jibo, a companion robot for the home, can hold a conversation, complete tasks and teach your kids. Part of an indiegogo.com crowd-funded project, Jibo is scheduled to go on sale within a year for $US749 ($964) and Australia will be part of the initial sales push.
Other android robots are heading for the domestic market. Aldebaran’s Nao is used in schoolrooms, as is a newer android version called Pepper. These robots are more smooth talkers than anything else. They don’t cook or sweep floors, or wind up the Hills hoist to hang out the washing. But they are a start.
In the world of cafes and restaurants, android waiters are making their mark, with China, Japan, and South Korea leading the way. In northeast China at Ningbo, they take orders, serve food, and use an optical sensing system to navigate. But they can utter only a handful of phrases in Mandarin.
Other robots can prepare food. The Wishdoing restaurant in Shanghai boasts robots that can cook dishes in less than three minutes. That means the vast slab of restaurant practices — taking orders, preparing food and serving dishes — can be mechanised.
So far the robot wheel-out is a gimmick, and costly compared with their human counterparts. The Ningbo robots cost about $11,900 each. Compare that with the wages of a restaurant worker in China. At Bangkok’s Hajime Robot Restaurant, two robots reportedly cost $US930,000 ($1.2m), compared with waiters earning less than $US10 for a 10-hour shift.
There are novel variations of this theme. The Timbre food chain in Singapore plans to use self-piloting drones to fly food and drinks out to waiters. The Royal Caribbean cruise ship Quantum of the Seas, launched last year, boasts two robot bartenders. They’re basically robotic arms that shake a mean cocktail. Create your dream cocktail with a tablet computer, press send, the robots do the rest.
In Australia, the AirService platform automates food ordering processes and eventually could morph into a full-fledged robot. AirService lets customers order and pay for their meals using smartphones and tablets with no need for a waiter. It is used in 250 restaurants, cafes and bowling alleys, with another 1500 venues set to come on board.
Chief executive Dominic Bressan says customers could soon order verbally via tablet computers. Their words would be processed using the built-in voice recognition programs Siri, Google Voice and Microsoft’s Cortana, now “at a good enough level” to handle basic ordering, he says.
Adding an intelligence engine would let the tablet hold a basic conversation with customers, and it could be programmed to offer alternative food suggestions if items were not available.
“While I’m at AirService I would like to see it go to the next level with voice recognition technology,” Bressan says, adding it would “make that order experience as seamless as possible”.
He foresees voice recognition technology eventually morphing into a home-grown robotic waiter.
There are downsides to machines taking over from human waiters. It will put people out of work and customers may not warm to robots, especially if they enjoy conversation. They’ll miss the human touch.
Robot waiters may not be as nimble as humans at avoiding small children playing on the floor as they walk around. There’s the big upfront cost and the need to create large, open-lane spaces through which robots travel.
And let’s hope a robot taking your order in a Parisian restaurant doesn’t confuse your desire for poisson with poison.
But Bressan says the robot waiter will take off. “I think artificial intelligence will get to a pretty impressive level within the next two decades,” he says. “When it hits that point it will accelerate very, very quickly.”
Miselowski points to the advent of very human-looking androids with typical human facial mannerisms, such as Japanese newsreader robot Kodomoroid.
He sees cultural acceptance and a business model for using robot waiters that goes far beyond their novelty value as more the issue. “All of those things (they can do) are practical, but they’re not purposeful at this stage.
“If we’re going out for an experience, we’re going to a fine-dining restaurant and it’s all about sitting there and enjoying the meal, is culture ready to accept a robot?”
Nevertheless he says good artificial intelligence capabilities are only two to three years away and that sophisticated android robot technology will be available within a decade. “I don’t think we’re too far off. But we’re probably five to 10 years away from finding a business purpose that says this is a better alternative than hiring staff.”
I was given the privilege a few weeks back to speak on behalf of Monash University IT department to prospective students and found myself reflecting on what uni life was for me and more importantly what it will be for them.
As I began to form my thoughts of what an IT students might be and accomplish I was struck by how pivotal these young adults would be in our future.
If we are to achieve and have the internet of things, big data, connected cars and cities, 3D printers and the list goes on, then we can only do this through the brilliant minds and hands of those in the audience and to this end I challenged them not to see themselves as IT professionals, but rather to consider themselves as Life Architects, taking, interpreting and building the world’s digital dreams.
To see how this would work we went through a series of careers including teachers, travel agents and doctors to see how integral technology is to them and what they need Life Architects to build for them, so that they can achieve in their chosen profession.
Such a great bunch of kids and the most wonderful thing is that after meeting them I am so confident and excited about the future and can’t wait to see the impact this group will have on our future world.
Take a look at the event video
and here’s my presentation – to watch it click on the Start Prezi symbol in the middle of the box below, give it a minute and then use the arrow keys to navigate around
There has never been a generation that didn’t believe the next generation was undoing all the wonderful advancements of the previous. Where we didn’t lament and fear for the future and look with disdain and disbelief at what the next generation sees as important and ordinary.
The reality is that we are entering a new dawn of work, heralded by a digital revolution, the likes of which we have never seen before and for which there are no ground rules, no certainty and many competing horizon landscapes and possibilities all simultaneously vying for our attention and action.
This new era will have many machines and much technology and increasingly the role of these machines will be to take over the routinised production and eventually service jobs.
There is nothing good that can be said about people losing jobs and livelihoods. To say it has happened before and will no doubt happen again, does not make it any easier for those facing uncertain futures. But what this sensationalist story doesn’t speak of are the many new industries, new jobs, new opportunities, new work styles and new definitions of work that have and will continue to evolve and rise in the place of the fallen.
This is not a story of better or worse, this is a conversation of different and appropriate to the time. It is a response by the world to the world as we know it now and want it to be tomorrow, and not meant as an indictment on what it is used to be.
This is also not a grand conspiracy theory cooked up years ago by mad scientists, or by some secret advanced robot club where they decided to band together and take over the world without us knowing or realising it, but rather this is because increasingly humans have chosen to have their goods, services and lifestyles produced in a way and at a price that has made mechanisation the only sensible and profitable solution to the problem of wanting and having things.
We need to stop anthropomorphising technology, it is only a box and if we truly wish to send it back from whence it came we could collectively, or privately, use the off switch, but so few do or want to.
So what we have is an evolving physical world; a digital world barely out of its infancy and still to show its true adult potential; changing culture; burgeoning technology; increasing population and endless desires and possibilities all mixed together and simmering in a large pot we call the future.
Now that I’ve got that off my chest, Sky Business TV’s Peter Switzer and I continued our ongoing series of chats looking at the future of work, by asking will robots be the preferred employee in the 2020’s and beyond and if so what and how will humans do to make a living?
Watch this segment now (8 mins 39 secs), share it around and let’s keep talking about the future of work.
For centuries we grew up, worked, learnt, dated, married, lived, and grew old within 25 miles of where we were born. Then came the wheel and we moved ourselves a little further, the steam engine a little further, the automobile a lot further, the airplane a hell of a lot further, but then came the internet and the necessity to travel out to see the world ceased, because for the first time ever in our existence the world now comes to us anywhere anytime on any device and we can live, see, play, work, date, learn and anything else – anywhere at any time.
This new digital space, has opened up new distribution models, new learning models, new food production models, new work models and the list goes on.
In my keynote last week to Intelligent Transport Systems Australia I posited that our need for transportation has irrevocably changed and is currently, and for the foreseeable future, going to continue to be challenged, reshaped and re-imagined.
To view my keynote click on the central Prezi symbol wait for it to load and
then use the arrow keys at the bottom of the box to move around.
The first of these influences is the internet itself, but other change agents abound and some of them include:
Big Data which will increasingly allow us to understand what’s happening on our roads, rails,seas and skies and to make swift purposeful decisions based on up to the minute data and predictive artificial intelligence inputs, we’ve already seen Qantas and other transport companies switch over to technology intermediaries to assist their staff in making timely and “perfect” decisions.
Internet of things and connected smart cities will over the next years virtually connect all of our vehicles, traffic and cityscape objects allowing each to share with the other information about driving intent, road conditions and what’s ahead. In the very near future buses may not work to a strict timetable and set of stops, but instead you’ll be able to virtually hail it to come to get you, rather than you going to get it.
Autonomous cars within 10 years will be a serious road contender with an expectation that in 2025 1 in 4 new cars sold will be capable of being put into auto pilot, when you don’t wish to drive yourself. We’re already seeing this used in the mining industry with huge trucks being driven remotely through the outback of Australia to and from the mines and depots. Daimler announced last week their soon to be released platooning auto pilot trucks capable of finding other trucks going in the same direction and joining them in an aerodynamic, sleek and safe convoy.
3D printers will bespoke produce goods, spare parts, clothing, food and lots more in our homes, in our retail outlets and wherever we are, leading to an eventual downturn in the need to transport goods to warehouses, distributors and retailers for storage for later hopeful consumer purchase.
The Sharing Economy and changing consumer demands is also altering the need for transportation. Car ownership is being disrupted by car sharing and car ride schemes. The growing cultural desire of having use of products, homes, offices, clothes, pets, furniture, cars, and other objects rather than owning them has spawned entirely new industries connecting those that have with those that want and in doing so is slowly taking some of the need away from transporting multiple goods along our transportation corridors.
Project and task-work is re-framing the 9-5 commute and as we increasingly change where and when we work the traditional road congestion and traffic will reshape itself.
Transport’s where, when, how, why and what are all changing, but of course we will continue to travel and in fact travel more than we ever have before, but for very different reasons and in very different ways.
But my concern is that every decision being made about our roads, highways, parking, airports, train stations, ports and transport routes are being made on yesterday’s usage, transposed onto tomorrow’s world.
If we have apps like Waze successfully using the collected wisdom of road users to redirect each car in real-time. If we have people commuting to work and elsewhere at different hours instead of within tight time-frames. If autonomous cars can pick and choose directions according to road conditions and personal preferences. If we have 3D printers printing requisites on demand and in-situ then our roads and transport decisions need to factor in these and so many other new horizon influences.
We must start to think about, set cultural rules around and legislate for autonomous cars, work though licencing and insurance needs. We need to factor in changing traffic flows and mass transportation needs, there are lots we need to do before we go to our default position of widening and expanding highways for traffic conditions that may not be present when the roads comes to reality.
We must be brave and truly factor in tomorrow’s needs and technologies before we merely default to replicating yesterdays solutions and infrastructure over and over again.
And because a futurist conversation is never complete without some science fiction transportation possibilities, here’s 3 of my favourites:
gravity train which could travel through the core of the earth and take you from anywhere to anywhere on the planet in 42 minutes and 12 seconds,
Elon Musk’s Hyperloop that will place you into a vacuum sealed tube and woosh you 6,500 kilometres in 45 minutes at the speed of 1,223 kilometres per hour.
and the space elevator a long desired piece of kit, that now has Obayashi Corp in Japan saying it may be possible from 2030 onwards as carbon fibre improves enough to allow them to set a thin vertical track that will allow us to hop in an elevator and spend 7 days travelling up to the nearest space station or space hotel.
These were just some of the questions I posed and future landscapes I explored with the worlds smartest transportation thinkers at their conference and with my regular audiences on 4BC and ABC radio WideBay, so have look at my keynote (above) and have a listen to the interviews and then share your thoughts on what you think, or want, in tomorrow’s transport system.
4BC Clare Brady – 19 May (21 mins 21 secs) and thanks to all the listeners who phoned in – great questions and let’s keep talking
ABC radio – WideBay – David Dowsett – 18 May (7 minutes 9 seconds)
With employment tipped to remain around the 6% level in Australia for the next few years and regional areas like Far North Queensland always hit harder, what does the future of employment look like over the next decade and beyond for regional Australia?
This is the question that sparked one of my regular catch ups with Phil Staley of ABC Far North Queensland .
The reality is that regardless of where you are on the planet, routine jobs are disappearing – even China who built its renaissance on “many inexpensive hands” doing repetitive tasks cheaply is now and for the foreseeable future the largest user of Robots on the planet – but in their place are a whole new swag of careers, jobs and money-making opportunities.
As the bank teller and check-out person of yesterday slowly become less desirable long-term career choices and are being replaced with career choices in the digital space, service industry and health we are also seeing new horizons of employment and income less dependent on where you are physically based by allowing you to digitally tap into a global marketplace that allows someone in Cairns to work for, hire, collaborate with, or trade with someone in San Francisco, Bangladesh or Norway or anywhere else easily, inexpensively and in real-time.
We are seeing the rise of the Solopreneur, someone who may have core work with one employer, but perhaps is selling their home-made macrame plant holder on Etsy, unused or pre-loved products in eBay or their skills in Airtsaker, and who knows that their livelihood and career are totally in their hands and that they must manage it judiciously, rather than waiting for employers or others to offer advancement and opportunities to them.
We are saying goodbye to many jobs of old and this is sad and we can lament of it, but its causes are human, we no longer desire those services, need those goods or are unwilling to pay for the people costs involved in having them.
As we have done throughout millennium we will replace these jobs with others. The added complexity now, as against previous times, is the digital world, robots, 3D printers, internet of things, big data, artificial intelligence, virtual reality, autonomous cars and a long line of other new industries on the horizon that are all beginning to reshape culture and our human expectations.
The surety of tomorrow is that there will be opportunity, perhaps not in the same way or in the same place as it once was, but regardless of where we are and what our skill sets are it will be possible to forge a vital and vibrant future for ourselves blending the best of the past with the promises of the future.
The confines of a remote region need no longer be barriers to engagement with the rest of the world.
An individual or business with a big idea can now readily sell that idea to the world, regardless of where they or their customers are, but to take advantage of these new horizons we will need to cut the anchor with many of our long-held beliefs and work models and we will need to evolve our education system whilst simultaneously up-skilling and providing confidence to the workforce of today.
All in all, a great segment (12 minutes 2 seconds), have a listen now and then let me now your thoughts on the future of employment in regional areas.
We have already borne witness to routine jobs like bank tellers, cashiers, assembly workers and others losing their jobs in favour of machines. Behind this though is not a rising militant union of robots demanding equal pay and opportunities, but rather a society that is unwilling to pay for, or see value in, human provided goods and services.
This quiet resignation and acceptance of technology’s increasing role in the workplace and the rise of its ability to cheaply and easily replace human workers is only one of the reasons we are changing our work landscape.
Not since the industrial revolution have we seen such wholesale changes to work, life and culture. Today we are literally in the eye of the storm of a new revolution in which everything we know about everything is shifting under our feet.
Phil Dobbie of Balls Radio and I debated the good, bad and ugly of this new work landscape, Phil trying to find a single solution and me pushing back insisting that there is no single solution.
To solve the conundrum of 2 billion people more on the planet and about 20 million more in Australia by 2050, more of us living longer and working longer, increased mechanisation, changing work landscapes and the reality that there will simply not be enough jobs for everyone as we currently know and have them.
I’ve long argued that we will need to reinvent work and perhaps even decouple work and remuneration to allow everyone to have enough to be able to maintain an acceptable standard of living.
In this new space the majority of us will be working when and where is appropriate, rather than a mandated 9-5 and we will work / live fluid lives with no clear boundaries between each, which each encroaching on the other as and when “life” happens.
This debate has no obvious conclusion, nor are the debate parameters clear and it is a discussion we will have to have ongoing, the one thing that is clear is that we can not take the totality of work and life past into work and life future, the two have very little in common.
Listen in now to our feisty discussion (17 minutes 35 seconds) and I’m looking forward to more of them as I join the team of regulars on Balls Radio.
Denmark intends to get rid of the obligation for its retailers to accept payment in cash and instead push its citizens into a cashless society.
This new world of payments was enough for Sonya Feldoff of ABC Adelaide to spark another of our regular chats looking at the Future of Money.
In the foreseeable future Australia will continue to have notes and coins, but we are moving swiftly to a less cash society with the Reserve Bank estimating that Australian’s on average made 380 non-cash transactions in 2014 up from 210 transactions a decade ago.
As technology, culture and economics continue to make it easier and more acceptable to purchase using plastic or mobile devices we will continue to see this number of cashless purchases escalate. This will be further fuelled by the recent advent of tap and pay technologies and the rise of more retailers accepting low value transactions, which was historically where most cash payments were made.
Add to this all the new non-bank disruptor’s emerging in this transaction space, new financial apps, bitcoin and blockchain inventing new forms of digital currency and many of our tech giants and mobile phone providers developing their own payment systems and we’ve entered a brave new world, where cash is no longer king.
Dr Paul Harrington of Deakin University and many callers joined the discussion as we explored credit card security, safety, new payment technologies, the decoupling of cash causing many people to spend beyond their limits, credit card surcharges, the black economy, industries that still prefer cash and lots more.
Great discussion so have a listen now (24 minutes 40 seconds) and then let me know your thoughts on the future of cash.
CEBIT, Sydney’s annual tech and innovation show attracting 20,000 plus visitors to 3 days and 450 exhibitions, was up and running this week and it was a perfect location for a live segment on 4BC, looking at all things innovation and future.
Our chat took us across the realms of rummaging through the exhibition’s treasure trove of what’s ahead, looking at drones and robots, at home automation and 3D printers and some wonderful new start-up ideas and then on to two live interviews with CeBIT exhibitors and stars.
Our first conversation was with Brendan Ryan of Entitlemate a NSW StartUp that will help families understand the real cost of childcare by cutting through the complexity of childcare entitlements by allowing them to enter their details and then using its secret sauce algorithms to work out which government pension or subsidy they may be entitled to.
Our second chat was with Tas Tudor of Strone, an exhibitor I came across in my walk through of the show and thought his new invention was just what the world needed, freedom to stay connected on your own cell phone number, wherever in the world you are, on any device you choose. It’s a unique patented gadget (that’s just received multimillion dollar angel investment) that lets you put your phones sim card into it, leave it and the device at home and it will then transfer your incoming calls for free to wherever you are.
A really great couple of chats and a great way to do a segment, so have a listen now (17 minutes 54 seconds)