Julius Baer held what they described as a next generation summit in London on Wednesday, to which Frank Investments was invited. One of the keynote speakers was a man called Michio Kaku, considered one of the 100 cleverest men on the planet. He mentioned his boyhood hero, not George Best, Ian Botham or Jack Nicklaus like most self respecting boys, but Albert Einstein. Michio Kaku is Professor of Theoretical physics at the City College of New York. Mr Kaku has written at least 3 bestselling novels and during his all to short lecture he gave some insights into how physicists and the Internet may change our world in the coming years.
The first thing he did though was give a small history lesson, he described how the industrial revolution of 19th century led to the first true stock market crash in 1850, as investors over leveraged their exposure to the growth. He then went on and explained that 80 years later was the electrical revolution and this led to, the crash of 1929. Eighty years on from 1929, the growth in technology and the Internet led to the crash in 2008, watch out 2088.
Mr Kaku went on to give us his insight into the future. Google glasses everyone has been aware of, but as yet paid little attention to will eventually become the size of contact lenses. The information on any one we meet, or anywhere we go will be readily available in our eye line. Driverless cars will be common within 10 years; laptops will be disposable, as they will only cost a penny. Your wallpaper will be intelligent and offer you medical advice and legal advice amongst other things. Regenerating organs will be child's play. When you go to the toilet the bowl will have sensors that can analyse your cells to give immediate warning of possible cancerous cells. MRI scanners that now take up a room will be no bigger than a cell phone. The scientist of today believes there are no boundaries to the strides they can make in the life of a human. Our dreams will be recorded; memories implanted back into our brains. At times it felt scary and hopefully these scientists will consider the ethical consequences of their actions as well as the technological ones. Cloud computing there is no doubt is the future and one imagines this has barely scratched the surface.
One question that was not addressed which as an asset gatherer one has to consider, it would appear the technology is once again going to prolong a humans life. What sort of pressures wills this put on the pension fund industry, will people now work into there seventies if the norm becomes to live beyond 100? One will need to save a lot more for that rainy day, what about health insurance? Real assets that are seen stores of value to meet these needs, bonds, stocks and commodities too will be in greater demand one imagines.