Exciting Predictions for the World in 2040

Image source: NEXT Conference

As a financial expert, I am constantly concerned about the future – wars, famine, climate disasters, viruses, and economic recessions. However, deep down, I hope that the world will be a better place by 2040. According to Professor Wang Wen from China’s Renmin University, the global economy will thrive, potentially resolving world poverty, which currently affects 1 billion people. These predictions were shared during the Valdai Youth Club Conference held in Sochi, Russia, in March 2024.

A New Capital: Information

In recent years, information has become the new capital. Among the top 500 companies worldwide, more and more are focusing on information technology and digital advancements. The FAANG companies (Facebook, Apple, Amazon, Netflix, and Google) dominate the tech industry, accounting for over 40% of the US stock market’s total market capitalization.

The ability to collect and produce information will determine the management and distribution methods for wealth in the next 20 years. Those with a significant online presence and high-quality information will have greater influence and power. Regardless of nation, organization, or individual, producing valuable information will play a crucial role in shaping the future.

Changing Lifestyles and Longer Lifespans

Two hundred years ago, the average human lifespan was around 40 years. Today, people born after 2000 can expect to live up to 80 years. With current advancements in medical technology, by 2040, the average lifespan could surpass 90 years and possibly even reach over 100 years.

Technological progress, such as brain-computer interfaces and memory chips, may even lead to immortality. This vision, shared by American tech billionaire Elon Musk, suggests that humanity is on the verge of a new era of civilization surpassing the industrial age.

A Revolution in Education

Education will undergo a revolutionary transformation in the coming years. Traditional concepts of universities and professors will fade away as knowledge and information become more accessible. Universities and professors, once the gatekeepers of knowledge, will no longer hold a monopoly.

Within the next 20 years, numerous universities will close, and many education-related jobs will disappear. As information and knowledge become increasingly democratized, individuals will be able to create economic value by organizing and generating new knowledge. Additionally, while the cost of conventional goods decreases, the cost of quality education and knowledge will rise. Education and entertainment will merge, as people seek high-quality educational experiences just as they pursue good food, fashionable clothes, and luxurious housing. A captivating video, an intriguing novel, or a beautiful song will stimulate higher economic growth.

The Dominance of the Service Industry

Intelligent technology will reshape the job market. In the future, humans will be less involved in agriculture, industry, and production. Artificial intelligence (AI), including teaching AI, will replace a significant number of jobs. People will increasingly gravitate towards the service industry, particularly services that enhance the quality of life.

Currently, in developed countries, the service industry accounts for over 80% of the total economy. Developing nations, although starting from a lower base, are expected to increase their participation in the service sector. Information skills, such as coding and data analysis, will become essential for employment. Fluency in languages and driving skills, which are currently advantageous for job seekers, will be replaced by the ability to harness data effectively.

The Impact of Artificial Intelligence

The innovation of AI technology based on data algorithms significantly improves the overall efficiency of social activities. However, it also poses significant and unpredictable risks, potentially leading to food shortages, financial instability, economic crises, conflicts, and reshaping the fundamental logic of social operations. This will spur debates and unprecedented ethical dilemmas regarding the use of technology.

Intelligent technology extends human capabilities in terms of time and space but also presents a new labor risk. Humans risk losing control and their dominant position in the world. How we regulate the development of AI will be a critical issue in the next 20 years.

These predictions offer an intriguing glimpse into the future of our world. As an expert in finance and economics, I believe it is important for us to adapt to these changes, embrace new opportunities, and work towards building a better world.

Note: This article was based on an original piece titled “Những dự đoán đáng chú ý về thế giới năm 2040”.