The article
starts out by giving a “state of the union” of the world, highlighting the
world’s decreasing productivity, high unemployment, extreme income inequality,
and a rapid acceleration of global warming, as some of the largest challenges
facing humanity in the early 21st century. Next, it delves into the
issue of global warming for a bit, stressing the importance of slowing down the
rate at which green house gases are emitted into the atmosphere, and if at all
possible completely reversing it. If ignored, the earth will go through several
decades of increasing intensity of weather and storms, culminating in 2100 when
temperatures will reach a tipping point and start the sixth extinction event in
earth’s history. Here is where the article actually gets relevant and begins to
use information technologies to help solve these problems; “Digital Europe” is
an initiative created by the EU, to make Europe “the most ecologically sustainable
society on Earth” through the use of big data.
The
first thing I’d like to emphasize is Europe’s plan to put sensors on EVERYTHING;
they’ll put a sensor on every device, appliance, and object that they can in
order to create what they are calling the “Internet of Things”. It is estimated
that by 2030 there will be over 100 trillion sensors connecting everything from
animals, to cars, to toys, etc., everything will have a sensor in the future
laying the ground for some exciting new advances. The “internet of things” will
create what’s called a “near zero marginal cost” and what this is, is when a
company creates an additional unit there is always some sort of cost associated
with creating this additional unit, called marginal cost; “the internet of things
can use big data and analytics to develop algorithms that speed efficiency,
increase productivity, and dramatically lower the marginal cost of producing
and distributing goods and services”. Finally, with the rise of the internet of
things and near zero marginal cost, the “sharing economy” flourishes, companies
like Google, Facebook, and Twitter, all champions of big data analytics, will
see their business models used over and over again, by companies leaving the
old unconnected economy, and joining the ultimate connected economy, where
everything can be tracked, observed, and quantized.
One
issue I had with the article is that the author seems to think of near zero
marginal cost is killer of industries, but in fact, just lowers costs buying
these goods for the consumer. Another problem I had with this article is that
once we implement this “internet of things”, the author acts like the issues of
global warming, and income inequality will be solved, in reality, it has very
little to do with green house gas emission. Finally, I think the timeline for a
full-scale usage of the “internet of things” is too fast; it will take a while
for people to become comfortable with the idea of being tracked in all facets
of their lives.
http://www.huffingtonpost.com/jeremy-rifkin/third-industrial-revolution-green-economy_b_8286142.html?
http://www.huffingtonpost.com/jeremy-rifkin/third-industrial-revolution-green-economy_b_8286142.html?
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