In 1999, Bill Gates
wrote a book titled "Business @ the Speed of Thought."
In the book, Gates
makes 15 bold predictions that at the time might have sounded outrageous.
But as business
student Markus Kirjonen pointed out on his blog, Gates' forecasts turned out to
be "eerily prescient."
No. 1: Price
comparison sites
Gates' prediction:
"Automated price comparison services will be developed, allowing people to
see prices across multiple websites, making it effortless to find the cheapest
product for all industries."
What we see now: You
can easily search for a product on Google or Amazon and get different prices of
the same product. Sites like NexTag and PriceGrabber are built specifically for
price comparisons.
No. 2: Mobile
devices
Gates' prediction:
"People will carry around small devices that allow them to constantly stay
in touch and do electronic business from wherever they are. They will be able
to check the news, see flights they have booked, get information from financial
markets, and do just about anything else on these devices."
What we see now:
Smartphones, and now smartwatches, do all of this.
No. 3: Instant
payments and financing online, better healthcare through the web
Gates' prediction:
"People will pay their bills, take care of their finances, and communicate
with their doctors over the internet."
What we see now:
Tech hasn't been able to change healthcare all that much, but there are sites
like ZocDoc that makes finding a doctor and scheduling easier. You can now
borrow money online through sites like Lending Club and easily make payments
through sites like PayPal and Venmo.
No. 4: Personal
assistants and the Internet of Things
Gates' prediction:
"'Personal companions' will be developed. They will connect and sync all
your devices in a smart way, whether they are at home or in the office, and
allow them to exchange data. The device will check your email or notifications,
and present the information that you need. When you go to the store, you can
tell it what recipes you want to prepare, and it will generate a list of
ingredients that you need to pick up. It will inform all the devices that you
use of your purchases and schedule, allowing them to automatically adjust to
what you’re doing."
What we see now:
Google Now, a smart assistant that runs on mobile devices, is starting to head
in this direction. Meanwhile, smart devices like Nest collect data on your
daily routines and automatically adjust the house temperature. Beacons will
send you store coupons based on your past purchasing habits.
No. 5: Online
home-monitoring
Gates' prediction:
"Constant video feeds of your house will become common, which inform you
when somebody visits while you are not home."
What we see now:
Dropcam sells home surveillance cameras that make home-monitoring easy. Google
bought the company for $555 million in 2014.
No. 6: Social media
Gates' prediction:
"Private websites for your friends and family will be common, allowing you
to chat and plan for events."
What we see now:
Social-media sites like Facebook and Instagram take care of this.
No. 7: Automated
promotional offers
Gates' prediction:
"Software that knows when you've booked a trip and uses that information
to suggest activities at the local destination. It suggests activities,
discounts, offers, and cheaper prices for all the things that you want to take
part in."
What we see now:
Travel sites like Expedia and Kayak offer deals based on past purchase data.
Google and Facebook ads can offer promotional ads based on the user's location
and interests.
No. 8: Live sports
discussion sites
Gates' prediction:
"While watching a sports competition on television, services will allow
you to discuss what is going on live, and enter contest where you vote on who
you think will win."
What we see now: A
bunch of social-media sites allow this, with Twitter being the clear leader.
You can leave comments in real time on sports sites like ESPN.
No. 9: Smart
advertising
Gates' prediction:
"Devices will have smart advertising. They will know your purchasing
trends, and will display advertisements that are tailored toward your
preferences."
What we see now:
Most online advertising services have this feature, where advertisers can
target users based on click history, personal interest, purchasing patterns.
No. 10: Links to
sites during live TV
Gates' prediction:
"Television broadcast will include links to relevant websites and content
that complement what you are watching."
What we see now:
Almost every live sports game has ads featuring links to a specific site. The
ads also show the teams' Twitter handles in some cases.
No. 11: Online
discussion boards
Gates' prediction:
"Residents of cities and countries will be able to have internet-based
discussions concerning issues that affect them, such as local politics, city
planning, or safety."
What we see now:
Most news sites have comment sections where people can have live discussions,
while many sites have forums where people can ask and respond to certain
questions. Twitter and Facebook played roles in political revolutions in Libya,
Egypt, and Tunisia.
No. 12:
Interest-based online sites
Gates' prediction:
"Online communities will not be influenced by your location, but rather,
your interest."
What we see now: All
kinds of news sites and online communities focus on single topics. Many news
sites expand to separate verticals, offering more in-depth coverage on a given
topic.
No. 13:
Project-management software
Gates' prediction:
"Project managers looking to put a team together will be able to go
online, describe the project, and receive recommendations for available people
who would fit their requirements."
What we see now:
Tons of workflow software in the enterprise space is revolutionizing how you
recruit, form teams, and assign work to others.
No. 14: Online
recruiting
Gates' prediction:
"Similarly, people looking for work will be able to find employment
opportunities online by declaring their interest, needs, and specialized
skills."
What we see now:
Sites like LinkedIn allow users to upload résumés and find jobs based on
individual interest and needs. Recruiters can search based on their specialized
skills.
No. 15: Business
community software
Gates' prediction:
"Companies will be able to bid on jobs, whether they are looking for a
construction project, a movie production, or an advertising campaign. This will
be efficient for both big companies that want to outsource work that they don't
usually face, businesses looking for new clients, and corporations that don't
have a go-to provider for the said service."
What we see now:
Many enterprise softwares are focused on the social aspect of it, so users can
reach out to other businesses and start a conversation that could lead to
bigger projects directly within their apps.
