Entrepreneur Magazine Arab Edition: DeepTech is displacing Silicon Valley from its technology throne
Dmitry Kaminskiy, General Partner, Deep Knowledge Group
Previously, Silicon Valley, which is based in Northern California in the United States, was considered the only center of technological innovation in the world. Today, Silicon Valley is all over the globe due to the pervasive culture of innovation, as well as several megatrends including the democratization of technology, technocracy, and the emergence of major technology hubs in China and India.
The boundaries that defined the lines of technological ability in the past are fading. For example, the geographic locations of companies have become less influential on the investment prospects, supply chain efficiencies and talent quality of those companies.
The spread of technocracy also plays a major role in transforming the culture of innovation spread around the world. Technology is increasingly becoming the main critical factor determining the stability of governments and their national economies. Technological innovations now represent one of the main paths of power affecting the success of national priorities such as public health, geopolitics, military, industry, education and many others.
A good example of the idea that Silicon Valley is now everywhere is the book The Future is Asian. I believe that demographic trends alone will ensure that the future is truly Asian. However, by the time the future becomes Asian, all aspects of discrimination according to country, race and religion may become invalid.
Outside of the Asian continent, Dubai is a thriving hub for artificial intelligence, home to around 176 startups solidifying technological innovation in the region. With its unique combination of resources and ambitions, the city is poised to become a major hub for artificial intelligence in the coming years.
Elsewhere, the number of AI firms in London is on the rise, overtaking those in New York, to double the number of firms in Paris and Berlin combined. London AI companies received £3.4 billion in investment during 2021, an increase of more than 36% over 2020. It is estimated that UK GDP could be boosted by up to 10.3% by 2030 thanks to AI, which adds £232 billion to the national economy.
The next chapter in the book on globalization will not focus on any particular country or economy. Technology itself is expected to be the full and final force of globalization, merging of borders and unification of the world. Regions will compete on the basis of technological progress rather than ideology and politics. And when we get to that point, transparency will be of paramount importance. Humankind's technology-enabled achievements must be completely transparent and auditable, and we must be able to see evidence of progress and address any signs of faltering.
In the near future, as these trends mature and the fusion of borders takes shape, the only dividing factors between countries and economies will center around technology and how well it works for the greater good.
The spread of technocracy not only bridges gaps and replicates Silicon Valley globally, but also promotes the use of technology for the social good and humanity as a whole. At the core of humanity across all races, religions and genders lies a unifying basic instinct to live longer and healthier. To succeed in longevity sustainability, we need much more than deep technology. We need technocratic policies to govern and promote key sectors such as healthy aging.
For example, a sustainable urbanization sector might solve issues of overpopulation and environmental collapse rather than exacerbate them. As I describe in my forthcoming book, Lifesustaining Sector 2.0: The Role of Deep Tech in Engineering the Accelerated Path to Human Longevity, the healthy aging sector is part of a larger trend, involving the widespread commodification and democratization of deep technology, that is bringing us into the Fifth Industrial Revolution. Which will inevitably include humanity's expansion beyond Earth.
We will soon see economies competing fiercely for technological advancement, and a wholesale shift to the benefits of deep technology to enhance public health, wealth, and well-being. The next phase of globalization, Globalization 5.0, will be marked by widespread government recognition of advanced technology as a major driver of personal and national health and wealth.
The commodification of deep technology will also facilitate the transition of emerging technologies from costly research and development to market-ready consumer products and services. All of this will be fueled by the Fifth Industrial Revolution, which is the great unifying force.
An optimistic bet on the extreme pace of technological progress is not enough. While all of this is inevitable, and that the raw intelligence and capacity of humanity will eventually transcend all barriers, we must accelerate the pace of technological progress and improve its outcomes through a critical approach to deep technology. It is our duty to do so.
When the next chapter of globalization emerges, knowledge really becomes more powerful than capital - which most of us are given equal chance of health, wealth, technology and personal development, we will all start speaking the same language.
View the original Arabic version at Entrepreneur Magazine Arabia here.