Submitted to: Syed Abdul Basit

Submitted by: Fizza Nazar

ID:13079

Exponential Finance

Exponential Finance celebrates the incredible opportunity at the

intersection of technology and finance.

Explains the world how exponential technologies are impacting

the financial industry.

Origin

After the US financial crisis the finance industry started to prosper

with some new tools and platforms.

In 2009, Bitcoin was released and crowd funding pioneer Kickstarter

was launched.

Soon after these many forces started to reshape the finance industry.

Significantly they got attention from banking and venture capital

investors.

Definition

There is a big opportunity available to engage people in a different way.

A fundamentally different way of doing banking is developed which

will make the industry a better place for the consumers.

It will help you to transfer money between two phone numbers

anywhere, anytime a day in real world, which is not possible in any

banking sector.

Do You Know?

There are 7 billion people in the world, 80% of the

transactions are done in paper cash. So on every $5 that

you earn, you have to pay financial services?

Which means you are transferring your money and

paying service charges for your cash?

At Exponential Finance 2015, Ric Edelman, founder of Edelman

Financial Services and a top financial advisor in the US, said,

“ I firmly believe that in the next ten years, half of all the

financial advisors in this country will be gone.”

What does Exponential Growth looks

like in Real Life?

This shows a 3000x Storage Capability and Performance Improvement

in 11 years and over 90,000,000x since 1956.

Digital Camera

1000x Resolution , 1000x Lighter & 1000x Cheaper

He offered his long-held belief on what the future holds for humans and artificial intelligence.

He is working on a project which has been a 50-year quest to recreate human intelligence.

By 2029 he thinks he will be able to achieve human levels of intelligence.

He explained that his team is utilizing numerous AI techniques to deal with language and learning and they developed a neural network that learned how to play video games successfully.

Ray Kurzweil

The Co-Founder of

Singularity University

and Director of

Engineering at Google

Exponential Finance conference was conducted by CNBC’s Bob Pisani,

which was focusing on artificial intelligence and its implications on

humanity. In the Conference Kurzweil said,

"We are going to directly merge with it, we are going to become the AI’s.

"Mastering intelligence is so difficult that we need to throw everything we have at it."

"We've always

used our technology to extend

our reach.”

Exponential technologies include artificial intelligence (AI),

augmented and virtual reality (AR, VR), data science, digital biology and

biotech, medicine, nanotech and digital fabrication, computing systems

and robotics.

These technologies are rapidly accelerating and shaping major

industries

Exponential Technologies

Solutions to the world’s most pressing challenges lie in the intersection

of these exponential technologies.

When these technologies are used to attack a persistent challenge, the

possibility of developing a sustainable solution becomes much more

likely.

Example: Solution that might use personal health records, a new

biosensor, and the data from smartphones to predict the presence of

cancer.

Exponential Technologies

The rate of progress in any evolutionary learning environment increases

exponentially. The more advanced a system that improves through

iterative learning becomes, the faster it can progress.

The Law of Accelerating Returns

Moore’s Law is the observation that the number of transistors per square

inch on integrated circuits has doubled every 18 months since they were

invented in 1958 and the prediction that this trend would continue into

the foreseeable future.

Moore's Law

Nested S-Curves

When one technology reaches its maximum another technology takes its

place. The image shows series of nested S-curves. All together these

technologies creates a very smooth S-Curve.

A successful technology should blend together multiple S-curves.

Peter Diamandis’ 6 D’s

Peter Diamandis constructed a useful framework to help navigate the

exponential journey that a digital technology takes, known as Peter

Diamandis’ 6 D’s.

Global Grand Children

These are the areas where they see some of the largest problems in the

world and they call them as Global Grand Children. Here the role of

technology can be magnificent.

Action Plan

As Technology is increasing at an exponential rate there can be

many opportunities seen in Pakistan. We need to come up with

disruptive Innovations to make a place in the market. In the fast

moving world one breakthrough technology is not sufficient for the

growth in long run. Continuous emergence of technologies are

necessary for promising future.

Diamandis’ 6 D’s are a very predictable path that we see over and

over again and it can be followed in our businesses to prosper in

future. The technologies are rapidly accelerating and shaping major

industries and it is said that by 2030 a computer will work as a

human brain and will cost only $10,000. So in order to survive in

this world we need to grow exponentially in all sectors of industry.

How can we Implement this in Pakistan

The application of Bitcoin can be useful for the transactions going on

in Pakistan. There is no point of asking someone else to transfer your

hard earned money from one place to another and at the same time

paying service charges to them. Application of this technology will

be beneficial for the industries in Pakistan.

Similarly conferences like Exponential Finance should be conducted

in Organizations to enhance the thinking process of the employees

and to teach them to come up with out of the box technological

advancements for the betterment of the society.

Bitcoin Technology

Conferences

Action Plan

Successful and renowned personalities from all around the world

should be invited to educate the employees on exponential growth

in every field. Participants should be allowed to connect with the

speakers and their fellow attendances.

Community

We should build a community for the like minded individuals who

are change makers and want go out there and want to be the

thinkers and doers in their organizations.

Action Plan

Thank you