A Generational Shift

Written April 12, 2017 by
Jack Bouroudjian
Chief Economist

The entire world is going through a generational shift right before our very eyes, as we witness ‘the cloud’, and all its effects, change our lives forever. In a recent article written on LinkedIn by Naveen Joshi titled, 6 ways AI is impacting the finance industry, Joshi makes it clear we are living through an inflection point in history.  New technology is reshaping the way we do everything and Tech America is leading the way. Energy, communication, payments, shopping and every industry in between are all being vastly changed by this technological disruption which, in hindsight, could make the industrial revolution look small in comparison.

The digital age is upon us and the US is playing the role of Global Leader. The jobs that will support  and facilitate  this shift are being created on a daily basis. Technology, much like capital, goes to where it is treated best. Anyone associated with the tech world knows US laws will protect them better than anywhere else in the developed world.  Whether it’s big data, SaaS, IaaS or even trading the cloud itself (UCX), innovation has led to efficiencies never thought possible before.  Stocks were searching for leadership over the last year and they finally found it in new tech!

So, as we listen to the ‘Soothsayers of Doom’ tell us that the end of the world is near, we should look at our smart phones and ask, “Really?”. On second thought, let the bears fear monger all they want, I’ll just read it on my mobile device while I trade my account and video chat with my children.  Ten years ago I might not have imagined that wireless internet would be everywhere, everyday-that we couldn’t live without it (or wouldn’t want to) and that we would buy it how and when we needed it.   Emerging technology and the ways it is supported will be the same.  Cloud will be the new utility based commodity.

As evidence all you need to look at is the fact that everyone is already starting to view it like they do internet connectivity, energy or anything else we need as a part of our daily lives.