Emerging Web4 World

For some time, many of us have been working towards and anticipating a new wave of Web4 technological modernisation which has been enabled by AI, Web3 technologies and digital platforms.

I wrote extensively about Web3 enabling Web4 and the implications thereof, in my book, Bad Money.

As Artificial Intelligence exploits these platforms in order to enable the web4 world, its role as a general-purpose technology continues to be assured in the digital epoch.

The latest announcement from Canadian firm Sanctuary AI in the field deployment of their general-purpose robot is a strong signal along these vectors.

General-purpose robots are a key enabler, in displacing low-value to mid-value jobs. Many will feel this development, threatens traditional employment patterns, and may induce a negative impact economically.

The harsh reality is advanced economies are predominantly high-income countries and are largely sustained through incrementally importing goods and outsourcing services which exploit the efforts of low-cost labour in low-to-middle income economies. Usually due to domestic price pressure.

Disrupting this model through technology is key to longer term sustainability for advanced economies and may prove imperative in enabling middle-income countries to escape the ‘middle-income trap.’

Please comment and share your thoughts or concerns about these developments and issues.