The internet, phones, and the euro are just a few of the innovations that have changed markets in the past 30 years. Finance industry leaders were asked to guess what the biggest changes would be between now and 2052. The comments have been edited.
The Nasdaq Inc. is a publicly traded company.
I think value-added intermediation will be the focus of the next 30 years. Every asset on the planet will be able to be purchased and sold in an instantaneous way thanks to the technology.
What are the technologies behind that? Market moving into a cloud infrastructure is going to be a critical component. Bringing more machine learning into market decisions. I think that the digital assets will become mainstream very soon.
There are a lot of things that can't be said about that. Crime management is one of the things. Governments won't allow crime management to be used in a mainstream way if the digital-asset ecosystems doesn't take it seriously. The digital-asset ecosystem has to match the scale of what the traditional markets are capable of.
I think regulators would be more comfortable with using the digital asset construct in traditional markets if it could scale a lot more. There is a chance for a central bank digital currency to form the basis for a more digital payment structure. Capital markets might open up into a more globalized format.
Goldman Sachs is a financial services company.
The changes that are going to have a profound impact on the way we all live are artificial intelligence, bio pharma, and biotech. There are a lot of big- picture issues. Investments in trying to find ways to be less harmful to the environment.
The capital that is necessary to drive innovation is brought together. Private sector risk capital can be used for some of that. Governments can provide some of the capital. Private sector and government partnerships can be used to find ways to encourage more investment.
Capital is going into artificial intelligence. The government intervention with respect to medtech is noteworthy. I don't think we need to have public-private partnerships in the medtech area. Climate technologies and a faster transition to clean energy will require more capital than other areas.
The majority of businesses are dealing with automation. I believe that the infrastructure of financial services will be further modernized with the use of the early version of the technology, called theBlockchain. It is not a great technology for a large amount of transactions at a very high speed.
The way you access the internet 25 years ago was different than the way you access it today.
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It isn't a single product that comes to mind when I think about the next 30 years. I am focused on the new ways we will be doing business in the future. The infrastructure of global markets and the architecture of finance are going to be reconstructed in the coming years.
We are moving towards a virtual economy in which markets do not open or close, digital assets are unlimited, and metaverse activities are widespread. Digital assets will be widely embraced and securitized, and we will seeavatars that exist in more than one form between traditional assets, digital native assets, and tokenized versions of traditional assets. Market participants will be able to respond to overseas announcements at any time of day and time zone. The nature of these transactions will reduce operational risk and improve the consumer and client experience.
Appropriate regulatory frameworks, a new generation of risk management and governance tools, and the right infrastructure are needed.
Retail opportunities and intangible assets are already being institutionalized. Adoption of digital assets by institutions is increasing and there is growing financialization of objects that previously only existed in the hands of retail individuals.
It is certain that in the year 2050 it will be virtual and boundless.
Two sigma investments.
We can look at what we have now and see if it was in the early days of the internet. A lot of things are happening. It's not known if the impact of the coin is good or bad. There is no known impact of new medical technologies. Many fields can be advanced with the use of artificial intelligence. I think of 1990 and the internet when I think of these areas.
30 years from now, medical technology could lead to real, meaningful cures for terrible diseases like cancer. If we can develop treatments for some of the diseases that have plagued humankind, we can transform our civilization. That could change the lives of more people than any other thing.
It is possible that climate problems will be the main problem. Technologies that advance the decarbonization of the world are exciting to me.
Computational approaches to more traditional fields such as chemistry, biology, and so on are the reason for many of these breakthrough. The area that we will find the most promise to make your world better is the application of computation to solve problems with medicine and climate.
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People sharing information, building on each other's progress, debating different viewpoints, and working together to shape solutions that are greater than what any individual could accomplish alone have been the most difficult problems to solve.
In a world characterized by conflict between and within nations, trust in the institutions and systems that fostered collaboration has been badly degraded.
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