Signals from the future:
Emerging trends that are likely to drive changes to the way we live, work and do business.
Energy:
- MIT Claims Superconducting Breakthrough Means Fusion Power Can Be Practical - Futurism - Breakthrough fusion energy design using superconductive magnets at practical temperatures promises economically viable fusion power, potentially revolutionising energy production.
- 20 Megawatt Nuclear Reactors That Can Fit In a Truck - NextBigFuture.com - Innovative micro nuclear reactors offer a portable, safe, and adaptable solution for remote power generation, addressing the need for new nuclear capacity.
- In 2026, Iceland plans to tap into a volcano's magma chamber to access virtually unlimited geothermal power through the Krafla Magma Testbed project. - r/Futurology - Harnessing magma for geothermal energy could revolutionise power generation with sustainable, abundant energy sources and valuable insights into volcanic activity.
Society:
- JPMorgan Says Its AI Cashflow Tool Cut Human Work Almost 90% - Entrepreneur - AI-backed cash flow tools like JPMorgan's are revolutionising banking operations, reducing human work significantly and paving the way for a more efficient future.
- Never say never - What's Next: Top Trends - Trends in smoking behavior may shift unexpectedly, challenging assumptions about the inevitable decline of the tobacco industry.
Focus Issue: The future of smart materials and manufacturing
As we look into the future of smart materials and manufacturing, several key trends emerge. One of these is the increasing use of automation and 3D printing in the manufacturing process for different materials. For instance, in the field of rubber moulding, these technologies are enabling faster, more precise production and the creation of complex moulds that were previously impossible. This not only reduces the risk of human error but also opens up new possibilities for innovation.
Another significant trend is the shift towards sustainability. Manufacturers are exploring the use of recycled materials to reduce waste and energy consumption. This is particularly evident in the materials sector, where there is a growing pressure from stakeholders for sustainable materials. The chemical industry, for example, is making efforts to meet global material demands while achieving sustainability targets.
Furthermore, the adoption of Industry 4.0 technologies such as IoT, AI, and cloud computing is revolutionising the manufacturing industry. These technologies are improving production processes, predictive maintenance, and even equipment maintenance efficiency.
The smart materials market, which includes materials like Nitinol (memory alloys), Electroactive Polymers (shape changing materials when a current is applied to them), and Piezoelectric Materials (generate electricity from mechanical stress), is also expected to grow significantly. Valued at USD $6 billion in 2022, it is projected to reach USD $110 billion by 2028, growing at a CAGR of 8.87%.
Even the fashion industry is not left behind. It is embracing new technologies such as AI, mobile shopping, 3D printing, and blockchain. These technologies are enhancing customer experiences, inventory management, and supply chain transparency. The industry is also developing novel fabrics and smart textiles, integrating IoT in fashion, and promoting sustainability and customisation.
So, what does all this mean? The future of smart materials and manufacturing is one of increased automation, sustainability, and digital transformation. This will require businesses to adopt shorter planning cycles, prepare for more disruption and uncertainty, and focus more on sustainability and ESG. They will also need to focus more on digital transformation, customer experience, data-driven decision making, AI, automation, cybersecurity, supply chain resilience, and remote work.
Consider these strategic insights:
- Embrace automation and advanced materials: Australian businesses, particularly in manufacturing, should heavily invest in automation and 3D printing technologies for precision and efficiency. Simultaneously, the adoption of smart materials like Nitinol, Electroactive Polymers, and Piezoelectric Materials can open up innovative avenues and drive growth.
- Sustainability as a competitive advantage: With global pressure mounting for sustainable practices, it's not just about compliance anymore. Businesses that can effectively incorporate the use of recycled materials and implement energy-efficient processes will gain a competitive edge, attracting environmentally-conscious customers and stakeholders.
- Industry 4.0 adoption: Leverage Industry 4.0 technologies such as IoT, AI, cloud computing for revolutionising the production process, predictive maintenance, equipment maintenance efficiency. Australian businesses that can effectively adopt and integrate these technologies will be at the forefront of the industry.
- Reimagining fashion with tech: For those in the fashion industry, there's a clear opportunity to integrate AI, mobile shopping, 3D printing, and blockchain for enhanced customer experiences, inventory management, and supply chain transparency. The development of novel fabrics and smart textiles presents an opportunity for innovation.
- Strategic planning for future trends: Australian businesses should adopt shorter planning cycles, prepare for more disruption and uncertainty, and focus more on digital transformation, customer experience, data-driven decision-making, AI, automation, cybersecurity, supply chain resilience, and remote work. Businesses that can strategically plan for these trends will be better positioned for future growth.
Deep strategy:
Longer form articles rich with insights:
- How to Fail Right - Harvard Business Review - Encouraging smart experimentation and learning from mistakes leads to innovation and performance improvements in the professional realm.
- Working nine to thrive - McKinsey & Company - Investing in employee health drives economic value, improves productivity, and enhances overall well-being, benefitting individuals, employers, and society.
- Housing Price Collapses With Working Age Population Collapse - NextBigFuture.com - Aging populations and declining working-age demographics drive housing market fluctuations, posing global economic risks and highlighting the need for technological advancements for sustainable living standards.
- When You Have to Make a Strategic Decision Without Much Data - Harvard Business Review - Leaders must embrace uncertainty by seeking insights from customers, startups, and new technologies to make strategic decisions ahead of clear data.
Business at the point of impact:
Emerging issues and technology trends can change the way we work and do business.
- Implementing generative AI with speed and safety - McKinsey & Company - Harnessing gen AI's transformative potential requires a structured approach to mitigate risks, ensure responsible governance, and adapt governance structures for sustainable benefits.
- How Generative AI Will Change The Jobs Of Doctors And Healthcare Professionals - Forbes - Generative AI in healthcare promises improved treatment, personalised medicine, and automation, but ethical concerns and the human touch remain vital.
- Why Adopting GenAI Is So Difficult - Harvard Business Review - Implementing generative AI technology requires more than expected for companies. Prioritising performance, human involvement, and realistic expectations are key for successful adoption.
- How To Build A Culture Of Adaptability When Change Is The Only Constant - ChiefExecutive.net - Organisations must prioritise adaptability in the face of constant change, learning from failures like Blockbuster and leveraging emerging technologies for success.
- Future Of Human Rights In The Age Of AI - Forbes - Navigating the ethical implications of AI on human rights, emphasising the importance of regulation and equality in the evolving technological landscape.
- How to Succeed With Predictive AI - MIT Sloan Management Review - Harnessing machine learning for business success requires a strategic approach, emphasising collaboration, metrics, and alignment between business and technology stakeholders.
- The breathtaking scope of Sam Altman's future AI empire - Business Insider - From scalable nuclear fusion and a $7 trillion plan to upend global chip production, to a universal human-powered cryptocurrency, and a company looking to end aging, Altman sits atop a sprawling techno-optimist empire. It was this thinking that inspired him in to empty his bank account in 2021 to back nuclear fusion startup Helion, a company looking to commercialise miniature suns and secure the world's energy future.
