Fast paced and perpetual technological advancements are characteristic of the digital era we are living in. Take a mental journey back to the year 2000 and see how things were then. It is apparent that the changes that have occurred would have seemed absurd had they been said to you then. The internet, social media and smartphones have fuelled this trend of ground-breaking and life-altering advancements in technology. Considering that you are here now how about you take a moment to envisage how the world will be like in the year 2040. This article will give you a glimpse by highlighting some industries that will mostly be gone in the next 20 years.
Within the next 20 years very few parts of the world will be conducting commercial farming through traditional methods. Those that would still be doing so will probably be victims of lack of funds amongst other possible hurdles. Already in some countries high-tech commercial farming is already being practised. There are numerous factors that have been pushing for a shift from traditional farming to tech-based farming. One of the most widespread factors has been and still is climate change. In most parts of the world reliance on natural rainfall or seasons is now suicidal due to mercurial natural conditions. In some countries the shortage of arable land has caused them to push new frontiers in technological methods of farming.
I wrote an article on vertical farming which I strongly believe is the future of farming. Farmers and governments must position themselves and brace for these changes because they shall be inevitable. On vertical farming I pointed out some things about it that make it crystal clear why it would become a hit going forward. Not being at the mercy of natural conditions and the ability to farm anything all-year round are some of the strengths of vertical farming. Vertical farming is just one of the many tech-based farming methods already on the scene.
We all know there are a lot of media publications that are printed out. Examples are newspapers, books or magazines, just to mention a few. Presently some businesses conducting such businesses are still in business but by 2040 the story could be very different. People now spent most of their time on the internet and social media. Due to use of smartphones and tablets people can now access content such as news or books online. This trend is gaining ascendancy so much that within the next 20 years the printing industry would probably have shrunk into oblivion.
For many years travel agencies have been big business and still are for the most part. However, a cycle of decline has already been set in motion due to the internet and social media. Look at this, someone can now search for and comb through possible travel destinations online. After that they can make a final choice on where to go upon which they can make bookings online. As for their actual travel be it by road, water or air they can also make bookings online. All the required payments can all be made online and everything can be done from one’s smartphone without any human assistance. On the internet there are now countless sites designed to automate and optimize people’s travel-related needs. An example of such a site is Trivago which helps people explore and compare prices of various types of accommodation. I’m saying all this to make it plain that by 2040 it is very likely that the travel agencies industry would have been washed away.
Onsite Financial Services
In the next 20 years there shall be a shift from the offering of financial services onsite. This might sound far-fetched for some to imagine but there are things occurring already that can open your eyes. For instance, it is now possible to go for months without having to physically visit your bank yet regularly doing your transactions. Some banks have started rolling out new frameworks where clients won’t even need to visit the bank when doing all their transactions. One example that comes to mind is Standard Chartered Bank which has been seriously working on digital banking innovations that virtually eliminate the need for offering their services onsite. You can learn more about what they have been doing in an article I did on them. Anyways, the whole banking experience will be totally different in 20 years’ time; that is definite.
Postal Courier Services
The interesting changes that will define every industry will have a bearing on postal courier services. The sending and receiving of letters has gone down to a point where letters are almost insignificant. Add a few more years from now and they will be totally non-existent. Most of the items for which postal couriers services exist won’t be existent in some years to come. To put it simply I am saying that there won’t be stuff to deliver because most, if not all of it, will be sent in digital form using digital platforms. How about other physical items? I can bet you that there’ll be tech innovations used to autonomously deliver parcels to recipients. You can read an article I did on such innovations that’ll be used to deliver parcels without human assistance.
There is significant indication that these 5 industries will most likely disappear in the 20 years. We are living in exciting times and the future ahead is full of interesting developments. As a business person it is prudent that you position yourself in a way that sprinkles longevity into your business. It would be unfortunate with all this information that you are getting to end up out of business simply because you didn’t take heed that your industry is losing relevance. As much as technological advancements can render certain industries irrelevant they can also be used to redefine industries into new and relevant ones.