Education and Work
Students stay at school longer, then graduate to do what? Make better and more informed decisions. Decisions on the things that AI can’t or won’t yet do.
People concede that they need the extra education to understand analysis. Year 14 Maths is compulsory.
Jobs open up reconciling and debugging AI systems, until such time as they merge. Counselling, drug rehab and mental health jobs prosper.
Politics and governance
Politics between 2020 and 2030 becomes largely concerned with social wealth distribution. Taxation and investment decisions are reformed.
Political referendums become more prevalent as the technology to host them becomes more cost-effective, but then disappear as governance identifies that issues can’t be resolved piecemeal, but that wholesale ecosystem policy reform is needed.
Hedge fund AI resources are harnessed to government policy making? How? Indirectly via consulting firms and higher education computer resources. Governments commission most complex policy problems to be solved using AI. AI resources are rented as needed to deliver the output.
The serious and super-complex problems become resolved by groups of AI’s acting together. Monitoring systems progressively merge.
Trade becomes less physical movement and more trade credits for the IP on items exported and imported between countries.
AI performs increasingly more of the services that currently occur between people.
Most financial currencies consolidate to align with the half a dozen large trading blocs that emerge.
Celebration of human endeavour is highlighted, tapping the human need to cheer the underdog. e.g. music contests, the Olympics and sports leagues, even as AI controls more of our functioning World.
Basic healthcare receives priority attention. People are actively counselling about healthy lifestyle choices.
Junk food and confectionery companies sponsor medical research into fat cell inhibiting medications and finally succeed, making their profits soar.
Mental health counselling aided by AI diagnostics achieves a quiet revolution, creating a happier but more aware society.
With numbers, leverage matters more than materiality.
‘Data-driven decision making’ is only better if you collect and merge the right kinds of data.
Sometimes you need a stand-alone crystal ball, not a fully-integrated computer system.
Absolute value changes and percentage changes; like heads and tails on a coin. You need both to get the full value.
The plural of anecdote isn’t data.
Accountants count the cost, when strategists fail to differentiate themselves.
Behind most good text and noble speeches are great numbers.
If we make and operate more trading markets, how can that solve some existing social problems in our communities?
In one example, creating a new product in the swaps market, we could swap bundled consumer poverty debt for public-body, impaired asset-liability (toxic/polluted land). That then gives a pool of almost penniless people (or a poor country heavily in debt), an asset instead of an unpayable financial debt. The asset may rise in the future, but in the meantime, as well as collectively paying the ongoing running costs, they can collectively pay an annual insurance premium to limit their downside risk.
From the public body’s perspective, they :
- alter their custodial obligations (the shape of the land borders they physically manage),
- minimise any controversy with their auditors on property, plant & equipment (PPE) impairment values,
- swap a physical liability for a financial liability of the same NPV,
- significantly reduce PPE liability volatility,
- avoid ongoing various running costs, relating to maintaining the physical asset, including; regular valuations, impairment reviews & access management.
The public body can then re-finance (against other unutilised collateral sitting on its balance sheet) the financial debt (interest rates) and match future income receipts against that debt in the normal way, to progressively pay down the debt.
In another example – derivative creation, can we split off the impairment discount from the unimpaired net value for a land or building asset? This idea may be of interest to the Housing Sector e.g. large Church & Council housing estate owners. The impairment value could be traded publicly, once derivatives representing it are created, perhaps to be known as ‘impairment value derivatives’ or IVD’s.
Thereafter, a fall in IVD value might occur, as the outcome of legal cases (relating to similar types of impaired physical assets held by other parties) establish payment liabilities on the owners of such properties. A gain in IVD value would occur, as investors speculate that impairment value attached to such IVD’s over time becomes excessive. And speculate that emerging new technologies make asset repairs & land remediation cheaper and more viable, causing a contraction in the impairment value. In the meantime, IVD shareholders could hedge their downside holding-risk (legal liability risk in particular), using insurance policies that cap the liability to themselves (effectively an insurance excess) and transfer most of it instead to the insurance industry.