Hamish Douglass: 8 predictions on the impact of technology

Hamish Douglass, CIO of Magellan Financial Group, has told investors that over the next 10 – 25 years a new technology and machine age could prove to be more important than The Industrial Revolution. “We believe that we are nearing an inflexion point in the rate of technological advancement, which could have profound impacts on conventional business models and challenge conventional investment paradigms.” Douglass cites mounting evidence that the world is approaching a tipping point of exponential technological advancement. Specifically, he highlights accelerating improvements in artificial intelligence, 3D printing, genomics, computing power and robotics. Douglass says his team has now spent ‘considerable time’ researching and assessing a range of issues linked to technological advancement. In this report he shares some powerful lessons from technological innovation, makes 8 predictions that could occur over the next 10 – 20 years and explains what he believes are the implications for investors. (Commentary starts from page 2)