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What a time to be alive. Looking at the sci-fi movie canon and the years in which these films take place, were 10 years past Robocop (set in 2015) and 7 years away from Demolition Man (set in 2032). As often as sci-fi serves as inspiration for the tech world, from the AI girlfriend of Her (2013) to an Iron Man-inspired tactical battle suit, so rarely does the tech world regard the thematic warnings underpinning their favorite depictions of the future. I believe in the power and opportunity of tech, and Ive made a career of building applications with integrity. Many emerging advancementsAI-assisted breast cancer screenings, for examplewill change our world for the better. But a few new technologies give me that Danger, Will Robinson! feeling. Here are three of them. 1. Humanoid housekeeping robots Companies like Norways 1X, the U.S.s Figure, and Canadas Sanctuary AI are creating humanoid housekeeping robots, combining robotic hardware with AI-powered software. These robots can receive vocal instruction and translate that instruction to physical action. Astounding! I get the use of these robots in warehouse and manufacturing settings, which are designed to accommodate the human form. Humanoid robots could take on the dull, dirty, and dangerous tasks that are too risky for humans. In the home is a different matter. Aside from a general uncanny valley creepiness, I cant see how these robots would be safe. Current large language models (LLMs) used by AI platforms like ChatGPT arent too difficult to jailbreaki.e., bypassing built-in security guardrails. A jailbroken LLM can be tricked into revealing sensitive credentials and secrets or giving harmful instructions like, say, how to build a bomb or 3D print a gun. Now imagine a jailbroken robot in your home. No thanks. 2. AI social media personas A few weeks ago while scrolling Instagram, I was prompted to try chatting with Instagrams new AI characters. Metas been rolling them out in a stop-and-start fashion since last year, and while theyve been repealed (for the moment) from Facebook, there are still a few on Instagram you can chat with. I think often how technologys principle of eliminating friction has gone too far. Friction and discomfort are necessary in the human experience. To be a person in community is to be vulnerable, to risk showing yourself to others. I worry technology has lulled us into such comfort that the most normal, natural aspects of being social animals have come to feel like a chore, if not a danger. We shouldnt equivocate simulated interactions with human ones, especially for kids, even in the most benign contexts. The less benign contexts are even more grim. Anyone can create an AI agent and say you should use it as your therapist or your girlfriend or financial advisor. Even with whimsical accountslike a Spongebob Squarepants chat agentyou (or your child) is still essentially talking to a stranger. A troubling formula: The humanness of the AI agent makes it feel trustworthy, and the machine-ness of the AI makes it feel unbiased and without agenda. On a broader scale, I worry about these accounts potential for spreading misinformation, not by shouting from the streets of X with a bullhorn, but by whispering directly into our ears. 3. Microsofts Majorana 1 chip Quantum computinganother deeply sci-fi topic is coming into reality. The science behind quantum mechanics is quite dense, but heres a primer. In computing, a classical bit is either a 1 or 0. A quantum bit (or qubit) can be both 0 and 1 simultaneously. The capability of a quantum computer is dependent on how many qubits are powering it. Quantum computers can make many attempts at a problem at once, compared to traditional computers that make one attempt at a time, albeit very quickly. For many, the standard of a quantum relevant computer is its ability to break RSA encryption (aka, the algorithmic formula commonly used to encrypt data) reliably at scale. Many nations are racing to develop quantum capabilities across several verticals and use casesChina, Germany, Canada, the U.S., India, and Japan are leading the way. Theres no way of knowing when quantum will reach a point of commercial or personal viability. That said, Microsofts new Majorana 1 chip represents a significant step toward that reality. The architecture used to develop the Majorana 1 appears capable of supporting a million qubits. For reference, when IBM released the first quantum processor in 2023, it had over 1,000 qubits, and that was a big deal. In 2021, the University of Science and Technology of China debuted a 66-qubit processor that solved a calculation in just 1.2 hours that would have taken a traditional super computer 8 years to solve. My concern isnt for the chip itself. The Majorana 1 is marvelous. My concern is that the world will not be ready for the quantum paradigm shift that Majorana 1 portends. Stepping into a quantum world will require organizations and infrastructure providers of all types to adopt quantum-resistant algorithms to protect our data and themselves against disruption. However, such cryptographic shifts have been historically painful. Many verticals still struggle with migrating to decade-old standards like AES or SHA-2. Our modern world and way of life relies deeply on encryption, and almost certainly nation-state enemies would use quantum capabilities against us if they beat us to the punch. Well see what sticks Its fun to look back in time to failed inventions from the early 20th century. Today, they seem so kooky andcumbersome. So many unique ideas that once appeared to be the next game changer fell flat, then fell into obscurity. I get the same sense about our current era. AI, quantum, and other breakthroughs are forging so many new possibilities, especially as they collide and combine with one another. The technologist in me feels like a kid in a candy store. I only hope the technology that survives serves our interests and individuals and as a species. Lindsey Witmer Collins is the founder of WLCM App Studio. The Fast Company Impact Council is a private membership community of influential leaders, experts, executives, and entrepreneurs who share their insights with our audience. Members pay annual membership dues for access to peer learning and thought leadership opportunities, events and more.
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Embarking on a personal transformation, often termed a “glow up,” encompasses more than just external changes; it’s about building confidence and holistic wellbeing. While the multi-billion-dollar beauty industry offers numerous products to aid in this journey, an accessible and potent tool is often overlooked: music. Scientific research underscores the profound impact of music on essential aspects of well-being, including sleep quality, stress management, and exercise performance. By integrating music into these areas, one can enhance overall health and, consequently, personal appearance. Music and sleep: Your secret weapon for restorative rest Good sleep hygiene means creating a consistent routine and an environment that promotes deep, uninterrupted sleepand music can be a game-changer when it comes to catching enough zs. Heres what music can do for sleep: Facilitate faster sleep onset: A study involving women with insomnia found that participants who listened to self-selected music at bedtime for 10 nights reduced their time to fall asleep from 27 to 69 minutes to just 6 to 13 minutes. Lower cortisol levels: Cortisol, the bodys stress hormone, can keep you wired when you need to wind down. Music has been shown to reduce cortisol levels, promoting relaxation and deeper sleep. Trigger dopamine release: Listening to music before bed can stimulate dopamine, the same feel-good hormone released during pleasurable activities like eating, exercising, and intimacy. That means music doesnt just help you sleepit helps you feel happier, too. How does sleep impact wellbeing and confidence? It promotes skin repair and regeneration, reduces inflammation, and it improves cognitive function and memory, along with emotional and mental health. Music and exercise: Amplifies performance Music isnt just about setting the vibe for your workoutit has measurable physiological and psychological benefits that can push you to perform at your best. Increases endurance and reduces perceived effort: A study by Professor Costas Karageorghis and colleagues found that syncing music with a runners pace increased muscle endurance by 15% while reducing perceived effort by 12%. In other words, you can work harder while feeling like youre doing less. Boosts performance across different workout types: Research shows that music provides ergogenic (performance-enhancing) benefits in endurance, sprint, and resistance-based activities. It improves physiological responses like heart rate and muscle activation, leading to better results. Elevates mood and motivation: The right playlist can shift your mindset, making workouts feel less like a chore and more like an energizing experience. How does exercise impact wellbeing and confidence? It boosts your mood and reduces anxiety, enhances brain function, while building self-esteem and body image. Music and stress management: A scientifically-proven relaxation tool We all know stress wreaks havoc on our health, skin, and overall wellbeing. The good news? Music is a powerful tool for relaxation, and science is backing it up in the emerging field of biomusicologyan area that fuses auditory neuroscience, psychology, and music cognition. Biomusicology shows that music: Reduces anxiety: A 2021 meta-analysis concluded that music therapy significantly improves anxiety during treatment, providing tangible mental health benefits. Promotes deep relaxation: The most effective relaxation music is slow in tempo, low in frequency, and free from sudden changes or jarring sounds. It helps slow the heart rate and create a calming effect. Supports individual needs: Whether you prefer instrumental melodies or soft vocals, music can be tailored to your specific relaxation goalswhether youre meditating, journaling, or simply unwinding after a long day. How does stress management impact wellbeing and confidence? It reduces premature aging, prevents breakouts, improves sleep, and it reduces anxiety and depression. The takeaway: Music is your free, science-backed glow up tool A glow up isnt just about what you put on your skin or how you style your hairits about how you feel, inside and out. Music is an accessible, research-backed way to improve sleep, maximize workouts, and manage stress, all of which contribute to a healthier, more radiant you. So next time youre curating your self-care routine, dont underestimate the power of a great playlist. By harnessing the therapeutic benefits of music, individuals can support their holistic well-being, contributing to a more radiant and confident self. The Fast Company Impact Council is a private membership community of influential leaders, experts, executives, and entrepreneurs who share their insights with our audience. Members pay annual membership dues for access to peer learning and thought leadership opportunities, events and more.
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The financial services industry is facing an era of unparalleled fragmentation. Consumers are no longer limited to a single bank or financial provider in an increasingly nomadic digital environment. Instead, consumers can move seamlessly between services and products across multiple platforms. This creates a highly competitive marketplace while still maintaining some degree of segmentation. As fintech disruptors and traditional financial institutions compete for consumers, creating brand differentiation and customer loyalty has become one of the hardest and most critical aspects of growing a business. Adding to this challenge, banks and financial service providers face an environment of unprecedented consumer choice. In the 2024 banking outlook, Deloitte cautions the industry that retail customers are spoiled for choice, and it has become easier for them to switch accounts and diversify deposits across multiple platforms. However, solutions are emerging that can break down the barriers between financial institutions and allow consumers to access a bundle of value-added features and capabilities alongside traditional financial productsall in one place. Lessons from travel and e-commerce industries The financial system is undergoing a seismic shift akin to the transformation that occurred over the past several decades in the travel industry, where consumers now prefer one-stop marketplaces like Kayak or Expedia for their travel needs. Closed loop ecosystems (e.g. I get my banking, personal loan, insurance, mortgage and brokerage all from one bank) are now being challenged by a la carte open systems where products are becoming provider agnostic and more goals oriented. Consumers are often asking, what is the optimal basket of financial products for me today? E-commerce giants like Amazon continue to illustrate changing consumer behavior by providing a range of add-on services, from groceries to online medical consultations. Like the travel sites, customers can do all this on Amazon itself, not separately going to the individual companies and services. Because of todays e-commerce and travel platform experiences, customers are accustomed to one-stop shoppingits become an expectation, not just a want. However, shopping for financial services has always lagged behind the other vertical industries. This has produced a drive to create financial ecosystems with a seamless, holistic shopping and checkout experience. A broad spectrum of companies can come together to offer financial services and products personalized for each consumer, offered in one centralized marketplace. For consumers, this means greater convenience and tailored products and financial solutions without needing to navigate multiple platforms. For financial institutions and service providers, this offers a chance to showcase their products and services to a wider audience, creating loyalty and trust while reducing the cost of customer acquisition. Data and AI can further fuel personalization Data analytics can be a powerful tool in revealing consumer behaviors and demands. Right now, consumers are demanding executable and tailored options, but in a simplified way (as in, a ready to checkout way). The emergence of low-latency deployable AI models in digital interfaces now allows the industry to customize offer deliveries right from the source of truth (e.g. a bank or financial institutions offer catalog) quickly and seamlessly. Again, insights and observed consumer behaviors from the travel industry are instructive in setting the next stage of financial services. An Expedia survey found that 50% of respondents were interested in using generative AI to plan their next trip in 2024. In addition, nearly 40% of travelers said they would use AI to find the perfect stay. Consumers are beginning to trust AI to make informed decisions at a time when the traditional, fragmented financial system is losing trust and loyalty. By using AI tools to provide additional financial options faster and more seamlessly, the industry can rebuild trust and loyalty with customers. Consumers tend to trust when they are given options, rather than being told what to do, and offered little choice. That consumer demand is as equally true when shopping for a hotel as it is when shopping for a savings account. They want to see the full picture rather than one product or service. To achieve this, a more unified ecosystem of financial service providers is needed, built with the help of AI tools, so consumers do not have to dig to find the right options in a fragmented landscape. A critical juncture The financial services industry faces a critical juncture where customer loyalty is being heavily tested by competitive offers and a fragmented digital environment. However, by leveraging AI and data, this challenge will be turned into an opportunity. Just as the travel industry has evolved to meet consumer demands through comprehensive platforms, the financial sector must embrace technology innovation and collaboration to offer one holistic, user-friendly experience. The Fast Company Impact Council is a private membership community of influential leaders, experts, executives, and entrepreneurs who share their insights with our audience. Members pay annual membership dues for access to peer learning and thought leadership opportunities, events and more.
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E-Commerce
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