As we look ahead to the years between 2024 and 2044, a range of global indicators underscores the
impending transformations that will reshape our daily lives, work dynamics, and business dynamics.
For instance, demographic shifts such as the aging population in Western countries will have
implications and opportunities for disease management, healthcare, homecare and retirement
systems. Furthermore, technological advancements like quantum computing and the continued
evolution of artificial intelligence will reform industries, from finance to transportation. Economic
trends, including the rise of emerging markets like India, China, Indonesia, Vietnam, Brazil, Russia,
Mexico and Nigeria, will redefine global trade and investment patterns.
While advancements hold the promise of making our lives more convenient and efficient, it's
imperative to remain vigilant about the potential challenges and how they will improve the quality
of our lives, help our businesses grow and improve security for SMEs who are susceptible to
economic and global shocks. Centralisation of power in both governmental and large corporate
entities can pose risks to individuals, SMEs and privacy. Geopolitical tensions and possible future
escalations demand careful monitoring to prevent conflicts that could disrupt global stability.
Additionally, safeguarding against the erosion of laws and regulations is essential to ensure that any
type of progress aligns with ethical and legal frameworks, preserving the rights and security of
individuals, business and societies as a whole.
Have you thought about how the next twenty years will affect you, your business, career, health,
financial position, your family, community, and nation? Read on as it is more important than you
The Fast-Paced World of Technology
Technological advancements have been surpassing the rate of adoption by culture and society, and
this trend is expected to accelerate over the next two decades.
Exploring New Frontiers: Space exploration, once confined to the realms of science fiction, is
experiencing a rapid ascent. Private companies like SpaceX have made significant strides in recent
years, and 2023, SpaceX's Starship completed its first fully integrated flight test, marking a milestone
in space travel. SpaceX has broken its own record for the number of launches in in a single year with
its 62nd rocket sent into space on Sunday 3 September 2023. Notably, the cost to produce space
rockets has decreased significantly, allowing for more ambitious missions and a potential paradigm
shift in our approach to space exploration. In Australia Gilmour Space, is counting down for the first
ever orbit launch of a commercial rocket. Eris Rocket is scheduled to launch in December 2023 from
the new Bowen Orbital Spaceport in Far North Queensland.
While the space industry remains optimistic about the possibilities, it's crucial to acknowledge the
challenges and limitations ahead. While colonising Mars and other space opportunities capture our
imagination, they remain distant possibilities fraught with technical, logistical, and ethical hurdles.
The road to making such dreams a reality is long and arduous, demanding continuous innovation
and international collaboration. We must also maintain a realistic notion of the challenges that lie
Simultaneously, AI, Machine Learning and automation are poised for increased impact across various
sectors, offering promising advancements in fields like healthcare and education. By 2024, it's
estimated that AI-powered healthcare applications will reduce treatment costs by 50%, makin medical services more accessible and efficient. In education, AI-driven personalised learning
platforms are projected to boost student performance by 30%.
However, it is crucial to underscore that while AI can enhance our capabilities, it should not become
a crutch that replaces human thinking and expertise. AI excels at identifying patterns and working
within the parameters of consistent outcomes, but it may struggle with complex scenarios and
problems that require nuanced judgment. As we embrace AI's potential, it's imperative to maintain a balance, ensuring that human intelligence and critical thinking continue to play a central role in
decision-making and addressing intricate challenges, this is especially crucial in health care. The
synergy between AI and human expertise holds the key to unlocking the full potential of these
technologies while maintaining ethical and effective solutions in various domains.
Advanced Manufacturing & Advanced Education
By 2040, advanced manufacturing will have evolved into a highly interconnected and automated
ecosystem. Smart factories equipped with cutting-edge technologies such as the Internet of Things
(IoT), 3D printing, and robotics will dominate the landscape. These factories will be capable of
producing customised products at scale, reducing waste and energy consumption. Artificial
intelligence (AI) will play a pivotal role in optimising manufacturing processes, predictive
maintenance, and quality control. Supply chains will be agile and responsive, thanks to blockchain
technology, ensuring transparency and traceability. Moreover, sustainable practices will be deeply
ingrained, with a focus on eco-friendly materials, energy-efficient processes, and circular economies.
The workforce in advanced manufacturing will require a combination of technical expertise and
digital literacy, emphasising continuous learning and adaptability.
In 2040, education will be more accessible and personalised, enabled by AI-driven learning platforms
that adapt to individual learning styles and pace. Virtual and augmented reality will create immersive
educational experiences, allowing students to explore historical events, scientific phenomena, and
complex concepts firsthand. Traditional boundaries between disciplines will blur, fostering
interdisciplinary approaches to problem-solving. Lifelong learning will be the norm, with
professionals regularly updating their skills through micro-credentials and online courses.
Furthermore, global collaboration will be seamless, connecting students and educators from around
the world in virtual classrooms. Education will not only focus on academic knowledge but also
emphasise critical thinking, creativity, emotional intelligence, and ethical decision-making to prepare
individuals for the complex challenges of the future.
While the vision of advanced education in 2040 presents opportunities, it also raises some concerns
and challenges. One of the primary concerns is the potential loss of the human connection that in
person learning provides. Education is not solely about the transmission of knowledge but also
about human interaction, fostering relationships, and developing social skills. In a virtual and
augmented reality-driven educational landscape, the personal touch and mentorship that educators
can offer in a physical setting may be diminished. Students may miss out on the invaluable
experience of face-to-face collaboration, discussions, and debates that help shape well-rounded
Furthermore, there is a risk of educational inequality in a fully digital environment. Not all students
may have equal access to the necessary technology and resources, potentially creating a digital
divide that hinders their educational opportunities. Online learning can also be isolating, lacking the
peer-to-peer learning and group dynamics that classroom settings naturally encourage.
Additionally, some disciplines and fields of study may inherently require in-person experiences,
hands-on training, or access to physical laboratories and equipment. For example, subjects like fine
arts, experimental sciences, and healthcare may be challenging to teach and learn purely through
The most effective educational institutions in 2040 may well be those that strike a balance between
advanced online learning and traditional classroom experiences. Combining the advantages of
technology-driven personalised learning with the rich social and collaborative aspects of in-person
education can provide a holistic and effective approach to education in the future. Ultimately, the
success of educational methods in 2040 will depend on their ability to adapt to the unique needs of
each discipline and student while maintaining the human connection that is integral to the learning
Food & Energy Challenges & Opportunities
Population Growth and Ensuring Food Security: As the global population steadily expands, the world
is presented with opportunities to harness both sustainable and nutrient rich food security.
Innovative approaches such as precision agriculture and vertical farming are emerging as solutions
to meet the rising demand for food. Vertical farms, exemplified by AeroFarms, showcase the
potential to yield up to 390 times more crops per square foot than traditional farming methods,
demonstrating the capacity for sustainable and plentiful food production. Moreover, continued
innovation in agriculture, coupled with the vast untapped potential of available land, can pave the
way for nutrient-rich food sources to support our growing population and ease poverty.
Clean Air & Energy Revolution: Nuclear power capacity worldwide is increasing steadily with
approximately 60 reactors under construction and most reactors on order or planned are in the
Asian region and Russia. New-generation reactors, such as Natrium, promise enhanced safety and
efficiency, offering a sustainable source of power. Furthermore, advancements in carbon capture
and utilisation technologies are reshaping the landscape of clean coal.
Innovations like the Allam Cycle are making it possible to generate electricity from natural gas with
zero emissions. In addition, breakthroughs in home insulation materials and techniques are
improving energy efficiency at the residential level and reducing energy consumption. One example
of a home insulation breakthrough is the development of aerogel insulation. Aerogels are highly
porous materials composed of a gel structure where the liquid component is replaced with a gas,
resulting in an incredibly lightweight and efficient insulator. These materials have been used in
various industries, including space exploration, due to their remarkable insulating properties.
Meanwhile, hydrogen fuel-cell technology is gaining momentum as a clean energy alternative, with
the global hydrogen market projected to reach $203 billion by 2026. These innovations are driving a
transformative shift toward more sustainable energy sources, addressing both environmental
concerns and energy demands.
Medical, Health & Wellness Transformation
To date the model of care has been focused on Sick or Disease Care. In the coming years individuals
will demand affordable health care that actually improves the quality of their lives and prevention
becomes the focus of bringing down many avoidable diseases such as high blood pressure, Type 2
diabetes, and conditions such as obesity. Medical breakthroughs are poised to redefine healthcare
and will enable personalised medicine, reducing adverse drug reactions by up to 80%.
In the upcoming years, healthcare is set to undergo a transformation that simplifies access, while
ensuring patient privacy and informed consent. The paradigm shift in healthcare extends beyond
treating illness to focus on prevention and improving overall well-being. Both patients and health
professionals will be better educated and empowered to take charge of their health and adhere to
the principles of medical ethics and patient privacy.
Moreover, as we look ahead, the future of aging is also undergoing a profound transformation.
Scientific advancements are increasingly focused on slowing the aging process and extending human
longevity. Emerging fields like regenerative medicine and anti-aging therapies are paving the way for
a future where individuals can lead longer, healthier, and more active lives. This shift not only holds
promise for improved quality of life among the elderly but also presents society with new
opportunities and challenges as we redefine what it means to age gracefully and with vitality.
Economic & Fiscal Outlook
Global Finance: Emerging international monetary exchange groups, such as BRICS (Brazil, Russia,
India, China, and South Africa), are poised to challenge the dominance of traditional financial
institutions. BRICS's combined GDP is projected to surpass that of the G7 by 2030, indicating a shifting
economic landscape and increase in geopolitical tensions.
Government-Driven Initiatives: Governments and central banks are embarking on ambitious
economic overhauls. Singapore's Smart Nation initiative, for example, aims to leverage technology
for enhanced productivity and citizen well-being. Meanwhile, tax reforms are on the horizon,
potentially impacting businesses and individuals. In 2023, the global average corporate tax rate
decreased to 21.4%, reflecting ongoing fiscal adjustments.
The ongoing development of a new global fiscal and tax system, with an emphasis on multi-payment
systems and the transition to cashless societies and digital currencies, holds the potential for
increased efficiency and the reduction of certain forms of criminal activity. By 2023, China's digital
payment market was valued at $40 trillion, where cash is almost obsolete. However, this shift raises
concerns about individual choice, financial privacy, and exclusion of those without digital access.
Additionally, cybersecurity threats and the potential for continued illicit financial activities must be
carefully considered. Striking a balance between the benefits of a multi-payment system and
safeguarding individual rights, financial inclusivity, data privacy, and cybersecurity will be essential to
a successful transition.
Shifting Work Dynamics
There is currently a push for shorter workweeks. Companies like Unilever and Microsoft are
experimenting with four-day workweeks. By 2024, it's expected that 60% of companies will offer
flexible work arrangements.
While the trend toward shorter workweeks and flexible work arrangements is expected to become
increasingly prevalent by 2040, it's important to recognise that not all industries will have the same
level of flexibility. The extent to which flexibility is embraced will largely depend on the nature of the
industry and the specific requirements of the job roles within it.
Industries that are heavily reliant on digital technology and remote work capabilities, such as
technology, finance, and professional services, are likely to lead the way in offering flexible work
arrangements. These sectors have already demonstrated a high degree of adaptability, enabling
employees to work from various locations and collaborate virtually.
On the other hand, industries that involve physical presence, hands-on work, or on-site operations,
such as manufacturing, healthcare, and construction, may find it more challenging to implement
shorter workweeks or fully flexible schedules. Jobs that require specific equipment, machinery
operation, or patient care often necessitate a consistent on-site presence to fulfill their roles
It's worth noting that even within industries, not all roles will have the same degree of flexibility. For
instance, administrative or managerial positions may be more amenable to flexible arrangements
compared to roles that demand constant physical presence.
Active Participation in Shaping Our Destiny
It's crucial to understand that we are not passive observers; we are architects of our future. Our role
is not just to consume but to create, actively shaping our present and future. We bear the
responsibility to participate actively in the development of a world that advances healthily, free from
economic, political, medical, and social inequities. Governments and global institutions cannot solely
determine what is right or wrong for a nation. The call for decentralisation and empowerment
resonates strongly in this evolving landscape. Communities and localised solutions are gaining
prominence as alternatives to centralised control.
In the current economic environment, marked by challenges like rising living costs, job insecurity,
increasing debt burdens, and fluctuating interest rates, there is a noticeable surge in entrepreneurial
activities and a revival of financial transactions, including capital raises, debt financing, and IPOs.
Confidence is a driving force in this evolving economic landscape. To successfully navigate these
changes, individuals and businesses should exercise prudence and forward-thinking. Governments
and central banks are actively addressing economic challenges through budget discipline, structural
reforms, enhanced competitiveness, and increased productivity. While economic indicators pointing
to future relief may vary, factors such as GDP growth, unemployment rates, and inflation trends will
be closely monitored, with the expectation of gradual improvement in the cost of living and living
standards. However, the possibility of tax adjustments in upcoming budgets underscores the
importance of assessing financial structures and seeking guidance from qualified tax experts.
As we embark on the journey into 2024 and beyond, our readiness to embrace change and
innovation will define the world and business landscape of the future. By actively engaging in this
ongoing transformation, we can collectively contribute to a future that enhances our quality of life
Approach the future with optimism, for it holds unparalleled opportunities for those prepared to