Are we in the middle of a technological revolution?

A conversation with Riccardo Pozzi, OSCE Special Representative on Innovation Technology, Youth and Security and Professor at MGIMO University.

1) Some people say that we are going through a technological revolution, is it true?

Absolutely, we are going through the 4TH technological revolution which, unlike the great revolutions of the past, is much faster and will probably have a deeper social and economical impact. It is no coincidence that the most widely discussed technologies, like artificial intelligence and blockchain are defined as “disruptive”, due to their capacity to radically change markets.

2) What will be the impact of these new technologies on the labour market?

Recently, in a conversation with Enrico Cereda, CEO of IBM Italy in the world, behind closed doors, it was stated that only artificial intelligence will be able to replace 20%-30% of jobs within 36 to 48 months. This entails the need to govern these processes, and to do so I strongly believe it is necessary to invest on training for the future leading class.

3) You mentioned blockchain as a future technology, even though there is widespread skepticism about cryptocurrencies. What do you think about it?

Cryptocurrencies make it possible to fully take advantage of the potential of the blockchain technology, which is a reality. The World Economic Forum estimated that by 2027 over 10% of the world’s GDP will involve business through this technology. we are speaking about an innovation which even the most skeptical ones will have to accept. We are still at the beginning, of course, and as I often say, it is like discovering a new world in which we have only built the central infrastructures. Each day brings about new ideas and changes.

4) Can you give us an example of a new project that can bring a change you were mentioning?

For example, just a few days ago, a new blockchain called EOS was launched. Thanks to an Initial Coin Offering (ICO), it collected the record amount of $4 billion and it promises to solve many of the problems present in other blockchains, like scalability. We don’t know yet if EOS will be able to be as relevant as the most famous and widely used Ethereum but it is for sure one of the most interesting project in the sector and I am personally convinced that it has a great potential.

5) If we look at the positive aspects of this technological change, what are the opportunities?

Those who can understand this technological change can take advantage of the opportunities and I think that the younger generations will have the potential to play a key role more than ever. New jobs are being created, startups, which use these technologies, are attracting large investments to develop their projects. The future is not so scary as some people say, we just need to be ready and flexible to accept a new reality.