Alexandra Levits Water Cooler Wisdom How to Think Like a Futurist

Alexandra Levit's Water Cooler Wisdom How to Think Like a Futurist Being a futurist means paying attention to new patterns or trends that are slowly percolating up through the market and/or society that have the potential to catch on in a major way. Its about coming up with possible scenarios for the future given these developments.For me, the ideal timeframe for futurist thinking is 5-10 years, because although no one can successfully predict the future, in this window you are more likely to be able to clearly see where things are going according to current operating models. Now, in 2019, I think anything beyond 10-15 years is reasonably futile because we bump up against the technological singularity (the time when machine intelligence becomes so sophisticated that it causes currently unfathomable changes to human existence). The simplest way to imagine and prepare for the future is to devise intelligent strategies that will serve your company well. You can do this by reading a ton and consulting experts in your field about what theyre seeing. Futurists use tools that systematize these recommendations including scenario planning, environmental scanning, Delphi surveying, and individual software programs like Fibres, Futures Platform, and Athena. Through your research, you will probably determine that financial markets and corporate structures are likely to change dramatically in the next few years. Blockchain will democratize, streamline, and improve the efficiency of ownership.Other potential developments in the financial sector include the increased use of algorithms to boost trading effectiveness, and the inclusion of machines and machine learning in individual and corporate financial planning. For the rest of this piece, please see the Strategy Business site.