The coming decade of digital transformation

CSIRO Senior Principal Scientist, Dr Stefan Hajkowicz, gave a mind-blowing glimpse into the future during his presentation on digital megatrends, yesterday in Hobart.

Dr Hajkowicz opened his address by acknowledging the issues and challenges facing humanity. “I am a believer in science and technology, it really is where a lot of solutions lie,” professed the foresight expert.

Dr Hajkowicz continued, outlining six digital megatrends he believes to be transforming the world as we know it.

Intelligent Machines

To demonstrate the pace at which machines are building on their intellect, Dr Hajkowicz used the example of automated vehicles, which he said, 14 years ago, were not seen to be plausible.

He also discussed the growing capability of machines in carrying out human tasks, by mimicking human traits, like the ability to recognise emotions.

Digital Dividends

Delegates also heard of the impact of automation on the Australian workforce. In his research, Dr Hajkowicz found that 14 per cent of jobs will disappear, and 36 per cent will be highly impacted.

Data Driven

According to the foresight expert, big data is getting bigger! While 14 per cent of jobs will disappear, Dr Hajkowicz told delegates that the demand for data scientists is growing.

Burning Platforms

Dr Hajkowicz covered off Distributed Ledger Technology, or Blockchain, and discussed the current data suggesting new models for finance as we move towards a cashless society.

Online Burnout

The new vulnerabilities in cyber physical systems were highlighted during Dr Hajkowicz presentation, using the example of a demonstrated cyber attack on a popular commercial car.

Delegates heard that at low speeds, the perpetrator was able to shutdown the engine and disable the brakes and steering. At any speed, the perpetrator had access to door locking, turn signals, tachometer (motor rotation speed), radio, ventilation and GPS.

Reality Bites

Despite everything, Dr Hajkowicz said people still like the physical world, and concluded that the experience economy remains strong.

He told his audience that brokers will continue to exist as advice and guidance remain highly valued by society.

Look out for more of Dr Hajkowicz’s insights in the October issue of Insurance Adviser magazine.