There are a few elite entrepreneurs that have changed commerce and markets around the world. These entrepreneurs are usually futuristic people who have an impact on society in profound and often unexpected ways. Two, who particularly spring to mind, are Elon Musk and Jeff Bezos, who have both impacted how people shop, what they invest in, and the way business is conducted. The impact made by these entrepreneurs on society and global economic structures is unprecedented.
Some people love these forward-thinking business moguls, and some are not big fans, but as global business rapidly changes and new technology is being introduced, an interesting question to ask is: Where will the next elite entrepreneur come from?
During and following the peak of the 2008 banking crisis, many felt that Elon Musk was a bit of a dreamer. He bet everything on his two companies Tesla and SpaceX but fast forward to October 25th 2021 he became the world’s richest man, surpassing Jeff Bezos and proving all of his doubters wrong.
But how can we predict where the next elite entrepreneur will come from? The answer, I believe, lies in the entrepreneurial movement and the advancements in technology across the globe.
We are now entering the 5th age in society. This Society 5.0 will encompass Artificial Intelligence (AI), Virtual Reality (VR) and Augmented Reality (AR) creating an immersive digital overlay that will significantly influence our lives. AI, VR, and AR have the ability to change the world as we know it from the jobs market, how we interact with others and how we spend our money. It will open up new revenue streams, streamline processes and revolutionise societies.
As this innovation increases in momentum, I expect that we will find the next global innovator in Society 5.0. In every age, some notable entrepreneurs change things significantly from the last one. For example, the industrial age – Society 3.0, gave birth to Jean Paul Getty and John D. Rockefeller amongst others, and the information age – Society 4.0, which began in the 1970s, saw Bill Gates and Steve Jobs becoming well known worldwide.
As we leave the information age behind, we will see a shift in society alongside many different factors coming together in a convergence of technology and big ideas will be implemented at pace with instant communication aiding uptake globally. Society 5.0 will allow people to create their own jobs, allowing many more to move out of poverty and contribute to societies around the world in a meaningful way.
Exponential growth will be seen across many industries, such as AI, energy storage and robotics, to name a few. Edtech will play a huge role in this new age and due to its digital nature, it will become much more widespread. We will see marginalised groups and third-world countries have much more access to education and this will only help to widen the pool of where the next elite entrepreneurs will come from. These people also have a unique viewpoint on how to identify and solve some of the world’s greatest challenges.
The Big Ideas 2022 report from Ark Invest, predicts that sectors such as AI will grow to a value of $108 trillion by 2030 from $10.5 trillion in 2020. This highlights how this technology will be adopted by many, and in the process of adoption, the jobs market as we know it will change and many will be forced to seek work in new industries, making it more important than ever to learn and implement an entrepreneurial skill set.
As AI is integrated into education, healthcare and industry, we will see much more personalised and relevant services being created. AI will work to streamline processes, learn from the user and even predict future pathways which will ultimately make the experience more relevant.
There is currently an entrepreneurial movement happening across the globe with many looking to take their future into their own hands prioritising their security, finances and prospects. We live in uncertain times, and this is driving the need for people to feel they have more control over their future. No longer can we rely on governments and fiat money; a new age of decentralised systems is coming into play and with this, the rules are being rewritten. The previous educational rules, where people are trained for one job, are being abandoned. In Society 5.0 lifelong learning will be the norm and constantly reskilling and upskilling will be necessary. This shift in mindset will allow new ideas and concepts to be born as people open themselves up to new learnings and career paths in different sectors, having therefore more opportunities to immerse themselves in their passions to access their inner genius.
With online learning, there are many benefits but a significant one is having access to a global community that can nurture, help to grow and inspires others. This also creates cohesion between communities and creates a deeper understanding of other cultures. As technology expands, borders are less of a hurdle and language is less of a barrier and this will only help to serve a more global community where ideas can be passed around the world in a matter of seconds. The entrepreneur movement understands that the world is becoming smaller and connecting with every corner of it has significant benefits.
We are also coming to a crossroads in history where we need to choose to actively work to tackle climate change. As global warming continues to threaten our homes, our food and our water, the basics we need to live and survive, we will need to come together globally and make a significant change. Seeing temperatures top 40 degrees centigrade in the recent heatwave in the UK and horrific wildfires in France, Spain and Greece shows that we need to act now. And as we have the technology and global reach to do this, there is really no excuse not to start today. The UN’s 17 Sustainable Development Goals are something that Genius Group works towards solving and encourages all members to centre their businesses around solving one or several of these issues. If we can come together and do this, as they are solved one by one, we will see a fairer, more sustainable future for generations to come.
As the world continues to evolve and change, how will the next elite entrepreneur bring the next big idea to fruition? No one can see into the future but there are certain trends in play that give us ideas on where we might find them. I believe that a good place to look is an entrepreneurial network that champions advancing technologies, a supportive network, and lifelong learning. These features combined will help any budding entrepreneur reach the top and catapult their world-changing idea to the forefront of the global media.
I am excited for this new age with advanced technology and life-changing advancements. I hope that the next elite entrepreneur will champion solving one of our global problems and will help create a fairer and more just world for future generations.
