Agriculture, urbanization, industrialization, digitization: the history of humankind has always turned on inflection points that have dramatically changed the way we live and interact. Are we about to cross another inflection point? The Networked Economy is promising to change the world over the next 20 years in ways that we could not even conceive of today.
In many of our lifetimes, the world has already transformed from an industrial economy, to the IT economy, to the Internet economy. Each of these transitions has created efficiencies and opened new marketplaces that quickly swept across the world. Now a new, Networked Economy is converging from all of these previous economies and is creating opportunities for growth and abundance.
Some claim that this new, hyper-connected revolution has the potential to double the gross world product by creating multilayered, highly interactive, real-time connections between people, devices, and businesses. To put it in perspective, that would mean that it has a value of close to $90 trillion.
Every device or person that connects to the Internet exponentially increases the size and complexity of network. In 2009 the number of devices was under 1 billion. Today the number is on track to reach 26 billion each one of which can interact with the whole in frictionless relationships to collect and share date, engage in commerce or provide value to consumers.
To survive in this economy, business need to make themselves available to anyone who is connected to this network. Not just as a static presence but as a social access point that is mobile, always on, and ready to collaborate and provide a personalized experience for each consumer.
Products such as Google Waze, that allows drivers to share local, real-time traffic information, are allowing people to interact with their surrounding and create virtual communities around a single point of interest. Similarly the line between business and consumer networks is breaking down. Consumer marketplaces such as eBay allow people from anywhere in the world to connect to each other regardless of whether they are a business looking to stock their shelves or a consumer filling their pockets.
As this economy continues to grow the frictionless flow of information will provide new, exciting opportunities to every person connected to the network, whether they live in a penthouse in New York or a hut in India.
Noosphere Ventures is watching these technologies closely and is excited that the vision of their company is being more generally adopted as the most influential revolution in our history. To learn more about Noosphere Ventures and its vision check out our website.