Hey, gang, and welcome to this section. So, to begin with, I wanted to just have a bit of a quick talk about technology and how it is actually accelerating all over the world. So hopefully, you're all aware of technology. It's been developing fantastically over the past hundred plus years, we've had awesome things such as electricity, television, radio, washing machines, fantastic. It's all been very good. But technology actually builds on itself.

And whilst you may be thinking, you know, this is very obvious, I really wanted to sort of stop and just make sure that everyone was fully aware and up to speed on this. And this is what I'm trying to get through in this particular part of the course. And that is that technology isn't just gradually, you know, being invented over the years, but it's actually accelerating. It's being invented at a quicker and quicker pace, because it's actually building on itself. Now, you had the initial invention of something like electricity, then obviously something was built on top of it, such as things like washing machines, radios or computers. Now computers is a particularly interesting one, because then on top of that, you've had other things also built on top of it, such as, you know, the internet or digital cameras, or mobile phones, all those sorts of things.

Although, I guess a mobile phone is essentially a computer. But my point is, these other types of inventions and these other types of technologies were all made possible because of that computer underlying technology. And as these new technologies get built in as the computer itself got built, and enabled those new technologies to be built even faster, and this sort of feedback loop keeps sort of getting quicker and quicker over the years and for the past kind of hundred years or so. It's been getting quicker and quicker. And people have started to notice it. But it's still going at a relatively slow pace, at least up until sort of the 2000s.

But since then I'm sure you've probably noticed, it's, you know, it started to pick up speed quite a fair bit. But ultimately, the specific point that I want to cover is that it is accelerating. It's not just a linear, you know, every five years, we get a new invention every 10 years, we get a new invention, it's actually accelerating. Maybe it was 10 years, we get a new invention 100 years ago, but now it might be every year or every week, or whatever it might be. So a good example of this is machine learning. Now, as I was saying, things like electricity and computers and the Internet, they all build on themselves.

In the case of machine learning, it's been taken even further because now we're getting into the realm of automation and machines actually taking over our jobs. So we While I'm sure you've heard of machine learning and AI doing things such as self driving cars or curing cancer or something, what you might not have heard of, is something called auto ml auto machine learning. Now, auto ml is where it gets a bit meta, but stay with me where machine learning actually designs and builds other machine learning programs. So instead of having, you know, perhaps a data scientist or a human being of any sort, sitting there programming, often new machine learning code and new machine learning programs that have actually found a way to get machine learning to build those programs for them. And obviously, as you can imagine, this is, again, that technology building on itself to create new technology Far, far quicker.

And what this means is that these technology developments that you're seeing that happening today and going in whatever right it is going today, this one the get faster a lot of people sort of assume or just don't really think about it too much. But they think that technology will just continue at its current pace of development, and that it can't possibly get any quicker than what it already is. But that's not the case, technology will continue to not only develop, but they developed at a faster and faster pace even faster than what it is now, even faster than what it is in 10 years time. So this is something that we need to really understand at a deep level and consider when we actually make decisions in the future that what we see now as quick technological development is nothing compared to what it will be like in five years, 10 years, 20 years time.

So in the next section, I want to actually talk about how companies are dealing with this. Obviously companies are just made up of people, and if people can't really sort of understand this change or be aware of it and cope with it in the future, with Technology getting even quicker. Obviously businesses are going to have trouble with it as well. So join me in the next part and I'll have a chat about that and how companies are getting their entire world turned upside down sometimes even overnight simply because of these new technology developments. So I'll see you then.