The world is set to undergo significant changes in the next decade and beyond. The individual technological advancements of the past decades are set to combine and thrust forward at a speed we have not experienced in the past.
The rate of innovation will not only accelerate at rapid speed, but it will also disrupt and rewrite industries in the coming decades. From architecture and artistry to aviation and accounting, dozens of industries are set to be transformed.
As a result, investors will have a smorgasbord of opportunities to create wealth at a magnitude they have never seen before.
The driver of this change is called convergence.
You may remember Moore’s Law. Gordon Moore was the founder of Intel, and in 1965 he observed that the number of transistors on a circuit board doubled every two years, which meant that computers became twice as powerful every two years for the same cost.
Over the ensuing 58 years, computers have continuously become more powerful while costs have fallen dramatically to the point where a smartphone is a thousand times smaller, a thousand times cheaper and a million times more powerful than a supercomputer from the 1970s.
This story is from the October 2023 edition of Money Magazine Australia.
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This story is from the October 2023 edition of Money Magazine Australia.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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