In the last couple of years, we have heard everyone from a technology entrepreneur to a marketing executive talk about mainly two things – Big Data and Machine Learning. We have heard philosophers and futurists talk about how all our jobs are endangered by the advance of technology and machines. At a time where political leaders across the world are fighting hard to keep jobs for their citizens, technology is slowly moving toward a society where people will have little work, or definitely not doing the type of work they do now. In The Truth About Your Future, the author takes you through the developments that are shaping our world right now and shows you how we are standing at an inflection point where our world is about to change in unimaginable ways.
“The world is at the knee of the compounding curve.”
Ric Edelman, one of the nation’s best-known and most successful financial advisers, is a New York Times bestselling author with a weekly PBS television show and WABC radio program, as well as a nationally syndicated column. He serves as the resident financial expert for The Dr. Oz Show and is a regular contributor to Financial Advisor and Inc.com. Barron’s has ranked him the “#1 Independent Financial Advisor” in the nation on three separate occasions.
The Truth About Your Future: The Money Guide You Need Now, Later, and Much Later
Author: Ric Edelman
Hardcover: 400 pages
Publisher: Simon & Schuster (March 28, 2017)
ISBN: 1501163809, 978-1501163807
The author begins with explaining exponentiality. He might seem repetitive, but as the book says in the beginning ‘The Truth About Your Future’ is meant for a reader who has no understanding of technology and the current state of how these can affect your lives. Moreover, even if you know what exponential means in mathematical terms and are aware of the famous Moore’s law, the author discusses the impact of this law on different aspects of our day-to-day life and how these are set to change.
With numerous examples and technologies that have already changed, the author shows us that we are no more doing things that we were just a decade ago. And it is not just that computers are doing things faster. Machine learning or Artificial Intelligence programs are now evolved enough to offer custom solutions – thanks to access to massive historical and real-time data from things like GPS and Social Media.
Massive Data + unparalleled Computing Power + Fast evolving AI have brought us to a point where every job and activity you think requires humans is poised to become obsolete. IBM’s Watson is creating delicious tasting recipes, diagnosing patients, writing news articles and a lot of other things. Henn-na hotel in Japan now uses robots almost hundred percent.
As we move toward the knee of this technological compounding curve, we increasingly are looking at a civilization where humans will have almost nothing to do than engage in problem-solving as all mundane tasks will be done by bots.
The author says that AI computers will be able to process data at the speed of human brain in a few years and soon double that rate. Then, a world controlled by machines where humans exist only to serve the machines suddenly does not seem science fiction anymore.
But until that happens, we will still need to make a living and make sure our investments and finances stay steady in this rapidly changing environment. This book, of course is about that. In the second part of the book, the author dives into handling your finances in the current scenario. Are the investments that you are making today, based on wisdom of the last century, going to be any good in the next decade?
Education, Living, careers, Jobs, cities and habitats all of this going to change at a rapid pace if we continue at the current rate.The authors gives you advice on how to handle your finances for this new world. From examining the dark side of these technologies, to building assets in the new world, the author discusses both short-term finances and long-term finances.
The Truth About Your Future is a fascinating book that you must read if you want to imagine the world that you might to get to see in just another ten years and the steps you need to take for your financial security in this new world.