The next innovation supercycle is here and it’s different to past cycles

The changes technology has made in society, even in the last few years, have been extraordinary. Some of the biggest advances are so interwoven into our lives, that we do nothing without them. Take mobile phones for example. Does anyone leave the house without one intentionally these days?

Bobby Yazdani, founder and partner for Cota Capital has seen at least four major innovation supercycles, including the internet and mobile phones across his career. He argues we’re in the beginning stages of the next one – and it’s artificial intelligence. But unlike past cycles which were about improving access to information, Yazdani believes this is a new age.

“We are entering the cognitive, or knowledge age and it has very different characteristics to the information age that we’ve experienced,” he says.

He points to the ability of artificial intelligence to constantly evolve based on new inputs – rather than being access to static information as in the past.

The excitement and power of AI has already been palpable in the start of 2023, after all, it was responsible for the resurgence of tech stocks this year after their slump in the previous year.

A range of Thinktanks have been swift to jump on the mania with a range of papers. For example, PwC estimate that AI will offer $15.7tr potential contribution to the global economy by 2030 and Bloomberg Intelligence suggests that the AI industry itself will be valued at $1.3tr by 2032.

But are we just watching the rise of yet another bubble?

Yazdani believes not, and with good reason.

“I think technologies that are inclusive tend to win. Technologies that are exclusive tend to die fast. Mobiles are an inclusive technology. The internet is an inclusive technology. AI is an inclusive technology,” he says.

It has a broad base of support and leverage in society – and the tremendous ability to transform our lives which is why Yazdani is betting on this technology.

In this wire and excerpt from the Livewire Live discussion with Bobby Yazdani “Forecasting the future for artificial intelligence”, Yazdani further explains his take on the supercycle and why AI is the next tech innovation winner.

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