A New ‘Tech Supercycle’ is Emerging – SXSW 2024

The dawn of a groundbreaking era in technology is upon us, heralding the onset of a transformative ‘tech supercycle.’ Unlike previous supercycles ignited by singular technological advancements such as electricity, the steam engine, and the internet, this new era is propelled forward by the synergy of three pivotal technologies: Artificial Intelligence (AI), the interconnected web of devices, and biotechnology.

A thrilling convergence is unfolding, marking an unprecedented period in technological evolution. The integration of AI, a vast network of connected devices, and breakthroughs in biotechnology is not just reshaping our digital landscape; it’s redefining the very fabric of our daily lives.

“This is an exhilarating time to be alive,” declared one expert at the forefront of technological forecasting during SXSW 2024, emphasizing that we are currently residing in the age of Artificial Intelligence. Indeed, AI is not a distant future concept but a tangible, impactful presence in today’s world.

The inception of this new tech supercycle began approximately two years ago, setting in motion a dynamic cycle of innovation and advancement. For instance, the integration of AI has facilitated significant breakthroughs in biotech wearables, catering to various sectors from healthcare to professional athletics, alongside consumer products like smartwatches and rings.

It was in the third quarter of 2023 that the signs of a burgeoning ‘tech supercycle’ became apparent, signaling an era of booming demand and skyrocketing prices for commodities and assets, potentially stretching across years or even decades. Such a supercycle not only promises monumental shifts in the economic landscape but also heralds a wave of innovation with the capacity to fundamentally alter our human experience.

The three technologies at the heart of this supercycle weave into every other technological facet of our lives, indicating that the forthcoming wave of innovation will be vast, influential, and all-encompassing.

Among the anticipated developments:

  • Concept to Concrete AI: AI models are evolving to understand abstract prompts, translating vague ideas into concrete outputs. This advancement is already visible with video generation models, signifying a leap toward more intuitive technological interactivity.
  • Unsecured AI: The proliferation of open AI models introduces new vulnerabilities, complicating the landscape of accountability. The concern pivots on who bears responsibility for the misuse of AI models, especially when these tools are used to generate harmful or deceptive content.
  • ‘Connectables’: The demand for data in training AI models is catalyzing the development of devices equipped with sensors, designed to collect an array of data from users. This aggregation of data paves the way for the creation of Large Action Models (LAMs), functioning similarly to AI agents, enhancing our interaction with digital environments.
  • Spatial Computing Malware: With the increasing adoption of AR/VR headsets, spurred by advancements such as Apple’s Vision Pro, a novel type of malware could emerge. This malware could exploit interactive gestures, such as using a virtual ball throw to initiate an unwanted download.

The imminent tech supercycle invites a future brimming with potential, poised to revolutionize industries, redefine human interaction, and reshape our daily lives. As we stand on the cusp of this technological revolution, the anticipation of what’s to come underscores the boundless possibilities that lie ahead in the ever-evolving digital age.

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