Imagine a future …..
where your personal financial advisor never lets you fall into the red, where your personal trainer ensures your fitness programme compensates for that sore ankle, or where your personal chauffeur always gets you to where you need to be on time.

This future has already arrived for the Haves – the 1% of the population today; but this future is in fact around the corner for us all as the digital revolution levels-out the playing field for human kind.  It’s a prediction theorised by Hal Varian (chief economist for Google) who suggested you can forecast the future by looking at what wealthy people have today, the poor will have tomorrow.  With the rise of digital disruption this future is moving faster than ever into our present.

“Hal’s point is that tech progress quite quickly makes initially expensive things
— both goods and services — cheaper, and so hastens their spread”

— What do the rich have now that will soon spread?” Andrew McFee, Financial Times

Newcomers to digital disruption in India are already joining the revolution in droves. No longer  reliant on typing to source or send information, they have leapt over the literacy wall to embrace voice-driven apps and video as a means of communication they can relate to.

Basic smartphones and cheap data plans are opening doors to interactive technology for the less-educated providing them with the opportunity to become an emerging part of this online expansion. Breaking down barriers, new technology is giving those denied education due to poverty instant access to information and services that were once the domain of the rich.

There will always be services that would hugely benefit the mainstream which the 1% take for granted. So democratising the level of personalised service and knowledge enjoyed by the few, creates access and advantages for the many.

One-on-one teachers, advisors, coaches, companions even, are waiting in the wings ready to take centre stage as digital technology bridges the gap between the Haves and the Have Nots.

Possibly one of the true perks of the Haves is that of being chauffeur driven.  Driverless cars are indeed imminent but a digital chauffeur who you can see and talk to, will do a lot to assuage the innate fear of handing over the controls of your vehicle to a computer.

The wealthy have personal bankers to provide wise investing scenarios to ensure their clients’ wealth doesn’t slip through their fingers.  A digital financial advisor can provide individual advice to anyone in a friendly face-to-face conversation, always knowing the relevant contextual information drawn from your previous interactions.

And who wouldn’t love a digital personal trainer? This isn’t a faceless app, but a digital coach who can not only devise a personalised fitness programme but can talk you through each routine giving you guidance every step of the way.

This technology is being developed today and will go some way in giving the Have Nots what the Haves have already got!

Further Reading:

Wall Street Journal: The End of Typing: The Next Billion Mobile Users Will Rely On Video and Voice

Financial Times: What do the rich have now that will soon spread?


Blog by Soul Machines™ | December 5, 2017