Every day we get one step closer to true AI. Every day, AI, the Internet of Things (IoT), and increasingly more so actual Robots are growing sophistication. As technology becomes more advanced, it slowly creeps into our everyday lives, replacing humans at simple (and not so simple) tasks.

Sure technological advances almost always result in job loss in one sector. But prior to the digital era, humans were still needed for most tasks. What do we do in an age when the AI can write the hard hitting journalism? When Robots can not just build, but design? What happens when consumers can order groceries with a verbal command, and have it delivered by a drone?

Much of this is already taking place and this conversation is happening everywhere. Most economists and Industry Tycoons are asking some form of following questions: in world where everything is automated, what happens to humans? What happens to basic capital generation? How does the average worker make money in world where basic jobs are gone?

This is a legitimate question – after all, with mechanical automation replacing a human workforce, unemployment will be around 90-95%. How will anyone make money in world where the biggest cost (labor) is essentially eliminated? How will people make money in the future without these jobs we see as the core of our economy?

Ideally, this would mean that all of humanity finds peace, that robotic innovations eliminate hunger and disease, that every human on the planet becomes free of want. Without hunger or thirst, with all needs met, humans can feel free to pursue whatever makes them happy.

Or we could be realistic. The whole basis of our economic system is that humans want more than just their basic needs met. What people value changes from person to person, from culture to culture, but at the end of the day, everybody wants something more than just a full belly and warm bed.

Some people believe that this will drive even further the wealth inequality gap. Others, such as Elon Musk, argue for the need to humanity to embrace cybernetics as a legitimate evolutionary path. But we wanted to take a different angle to the central question here: how will people make enough in a world where most human labor (from manufacturing to designing, and even to actual programming) is non-existent?

We wanted to look at this and see what are the practical, actionable steps that can be taken. What can entrepreneur do to ensure their own wealth generation in a changing world? More importantly, how can it be done by the average person, the most vulnerable group to these changes in the Labor Market?

The answer is simpler than one might expect: Software. Imagine if someone knew what routes the railroads in the 19th century would take, before the railroad companies themselves knew? Buying up the land would cost pennies – and could be sold to the railroads at exorbitant prices.

That’s where we are with Robotics, AI, and the IoT. It’s quite clear that the economic future lies in owning software and hardware (as opposed to property). If you can’t control the production itself, control the means. In this case that means custom built software.

Software controls all, a fact with which our programmers are exceptionally familiar. But the ideal venture would be something that grows with the times. Because software is different than property in that it’s easy to update, to add extensive value, to grow with the times. This is important because it means that the owner would be able to generate a sustainable cash flow.

So if software is the key to Future wealth, what are the features needed to create a successful product? Let’s take a look:

• The Cloud

This seems like a weird non-sequitur, but having a cloud-based system is vital. Not only is it more secure, but it means more rapid deployment of updates and features (and thus the ability to rapidly deliver enhanced value). If you want your business to be nimble, fluid, and able to respond quickly, you must be on the Cloud.

• Machine Learning

The entire premise of modern AI is that it records and analyzes user data in order to become smarter. Digital Personal Assistants like Siri, or the more recent Home AIs utilize Machine Learning and Natural Language Processing (NLP) to become more sophisticated, to grow in value every time they’re used.

• Robust Marketing Strategy

This is nuts and bolts stuff. Some programming stuff (i.e. SEO), but as it becomes clearer that software is the next gold mine, the market will become thick with competition. You have to hit the ground running with a robust marketing campaign, even if you’re a B2B service.

• A Clear Message

As we mentioned in the above point, the market for software will become flooded. The best way to avoid this problem is to identify what exact problem you’re attempting to tackle (Start small, grow big), figure out precisely how you’re going to solve it – and then boil it down into a 30 second speech (AKA an Elevator Pitch) that’s clear, concise and explains the benefits you offer. Focus on those benefits – people don’t care how cool your model is. They want to know what they get out of it.

So want to get started but not sure how? Give us a call at 408.805.0495/408.621.8481 – or click to contact us! We offer a free consultation, so we’ll even help flesh out some killer business ideas. Look forward to talking to you soon!