6G, the technical standard of a sixth-generation technology for wireless communication, is already well in preparation. Such technology is absolutely necessary because new technologies are already beginning to merge with each other. While there is undoubtedly an AI frenzy, savvy investors know that the real opportunity is in the convergence of select emerging technologies — the intersection of AI, blockchain, spatial computing/volumetric and more require massive amounts of data and thus demand immense processing power.
6G will provide the foundation for such capabilities to occur. The business and cultural impact of the advent of this development was recently discussed during 6G World’s “Life Beyond 5G” virtual summit held within the organization’s own metaverse. Panels included a variety of topics covering work, relationships, and entertainment; however the two most compelling were the Future of Hip Hop as it celebrates 50 years, and The Future of Work, and there are a number of key takeaways from the event of which investors should be aware.
First, for those with an eye toward investment opportunities at the intersection of emerging technology and entertainment, it is critical to deeply understand the cultural context in which the technology is be adopted. According to PwC, the entertainment and media industry is forecast to reach $75.5 billion in the U.S. by 2027. Much of this will be driven through the expansion of emerging technology coupled with behavior and usage via youth culture. Youth culture, in large part is driven by hip hop culture which is, essentially, innovation. While it is rare to learn from creatives in the sector itself, 6G partnered with Tech With Soul to bring together respected recording artists in the space to discuss present and future challenges and opportunities in the sector.
Moderated by Tech with Soul’s Mike Johns, legendary rappers Ras Kass and Money B from the iconic Digital Underground explained during the “Future of Hip Hop” panel that authenticity will be vital for adoption of platforms dealing with emerging technology. Indeed, Money B shared that one-offs with hip hop notables will be of little or interest to creatives in the space. Only technology companies that that have a true business strategy to develop collaborative, successful partnerships with the culture will be those who can capture larger market share.
Authenticity will drive market share and investors will need to vet companies on their level of cultural insights and relationships within the arena. Ras Kass echoed Money B’s sentiments and added that platforms that overlook the full spectrum of talent will suffer because innovation is not simply only at the top of the recording charts. Ras Kass also expressed concern about creative talent being overtaken by investment capital and cautioned that a balance is needed to ensure fair business pratices. Indeed, the Dream Tracks/YouTube Shorts news announcement is somewhat indicative of this current reality, and tracking the convergence of two industries that move at lightning speed, emerging technology and youth culture, will only become more critical as time progresses.
The additional panel on the “Future Of Work” posed extremely intriguing possibilities for new business opportunities. Applications that enable thought-leaders to create digital twins who can even offers insights and directives while their human counterpart is sleeping is already being experimented as a viable revenue model and platforms to offer such capabilities could be interesting investments. Indeed, the expansion, replacement, and re-imagining of work as we consider it today is going to experience a massive paradigm shift.
In fact, just a few days ago new tools are being developed to even potentially replace venture capitalists. Tools that enrich and expand work-related process particularly in knowledge-capital areas will be key areas for investors. However, one of the most intriguing forecasts to come from the panels was about leadership at work. The notion that those within an organization who know how best to wield AI will become knowledgeable in new ways and possess new levels of autonomy ways will contribute to the gradual crumbling of the traditional, hierarchical structure of the workplace and yield to one which is, instead, fluid. “Leading” will shift to those who are most appropriate for a particular task at a particular given time.
This proposition is particularly intriguing for mass media and entertainment companies where hierarchy of information dissemination and perspective has been historically critical. However, it does in fact seem that platforms that enable impeccable personal AI and support critical thinking in the workspace will be the must-haves in the business world in the very near future. Companies that can adapt quickly to such changes will be those on which to focus.
6G is on the horizon and will be the foundation behind powerful shift in culture and business. The biggest focus will remain how to best decipher and decode the platforms and mindsets that will lead the future.
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