As a futurist, I am delighted to share my insights on various topics, including change, transformation, technology, and advancements in Generative AI. In this article, I will discuss several key concepts I explored during a recent podcast interview with PMMI, shedding light on the power of transformation and the role of AI in shaping our future. In addition, it’s imperative that I explore the importance of embracing an Anticipatory mindset in our fast-paced world of constant change. 

Understanding Change and Transformation

It is essential to differentiate between change and transformation. Change is often triggered externally, compelling organizations, individuals, or teams to react. On the other hand, transformation arises from within, allowing us to proactively shape our future. Embracing transformation grants us control and empowers us to actively mold our destinies.

Let’s consider the example of mobile technology. The introduction of the Blackberry brought change by enabling mobile email access. However, the first iPhone epitomized transformation by creating the first mobile multimedia computer with features like GPS, video, audio, and photography. The transformative nature of the first iPhone was not the phone itself, it was how humans applied its many features to do revolutionary things. The resulting transformative impact fundamentally altered how we interacted with technology. It is crucial for us to assess whether our innovations merely represent incremental changes or true transformations.

The Role of Generative AI and ChatGPT

When it comes to generative AI, it is vital to address concerns regarding its impact on employment. AI itself is like all technology: it is neutral, devoid of inherent goodness or evilness. The same tool that can give you cancer can cure it. It’s not the tool, it’s how we as humans apply it. The true value lies in our application of this technology. Individuals who leverage AI will replace many of those who fail to do so, highlighting the potential of AI as a valuable asset rather than a threat.

In the context of AI, generative AI (e.g., ChatGPT) is particularly noteworthy because it can generate new content; AI did not do this in the past. This AI system possesses the capability to generate diverse forms of content, spanning text, video, audio, images, and even code. However, we must remain cautious, as ChatGPT does not guarantee 100% accuracy or fully grasp the nuanced preferences of specific audiences. It is imperative for human intervention to fact-check, maintain credibility, and infuse personal insights to enhance the output produced by AI.

The Evolutionary Revolution of Generative AI

I’ve been studying, writing about, and consulting with companies about AI for the past four decades, and during that time, AI has undergone a fascinating evolution. Now, with large language models (LLM) enabling generative AI, including ChatGPT, we have reached a revolutionary phase. When OpenAI released ChatGPT as a free experiment to the world, it became the fastest growing software ever, attracting over a hundred million users within two months. This rapid growth has posed a significant challenge to established companies, including the largest technology companies, causing their services to become less relevant. Consequently, other industry players have joined the AI revolution, developing their own generative AI systems.

Embracing an Anticipatory Mindset

In the face of rapid change, embracing an Anticipatory mindset is of paramount importance. Agility, which focuses on reacting swiftly to disruptions and problems after they occur, is valuable but, due to increasing exponential technology changes, insufficient. Anticipation, on the other hand, involves identifying and proactively solving predictable future problems and disruptions before they happen — an essential approach in an era of accelerating exponential change.

To navigate the future effectively, I invented the concepts and methodology of Hard Trends and Soft Trends. Hard Trends represent future facts that are certain to occur, while Soft Trends embody assumptions that may or may not materialize. By identifying Hard Trends and aligning them with relevant opportunities, individuals and organizations can develop strategies with low risk and high potential.

Looking Ahead: Transforming Business Processes

Looking to the next three years, businesses have an incredible opportunity to transform their processes, products, and services across various domains, including sales, marketing, communication, education, and product development. Technological advancements such as generative AI, 3D printing, IoT, and 5G wireless, to name a few, enable us to achieve what was once considered impossible.

In summary, understanding that we are now in a revolutionary, transformative state that will continue to accelerate change and disruption, it is now an imperative to have an Anticipatory Mindset in navigating the future. Generative AI, particularly ChatGPT, offers immense potential when harnessed effectively. By differentiating between change and transformation, recognizing Hard Trends, and adapting business processes accordingly, we can seize opportunities.

The digital future waits for no one. Secure your place at the forefront of the AI revolution. Visit www.aiStrategyReport.com/ to get cutting-edge AI tool recommendations to boost your productivity and efficiency from Daniel Burrus.

Here we are, sitting on the cusp of a LONG holiday weekend. With July 4^th on Tuesday, many are going to make the weekend more like a week! If you are planning to go away and be gone/unplugged for this weekend, please be safe and enjoy yourself. If you are planning on remaining connected and are looking to take advantage of potential opportunities, then here are a few things you can do.

• 1. Let people know you are working!

  • Referral partners
  • Clients
  • Builders
  • Other lenders

  2. Get out and be visible!

• • Pop ins
  • Open Houses
  • Door knocking

3. Start the conversation!

1. Real estate market
2. Inventory
3. Opportunities
4. Debt consolidation
5. Collect the 9s & 10s
6. Back to school

• 4. Follow-up

  • Who did you speak to?
  • How did things go?
  • How can I help?

It only takes a few hours over the holiday weekend to really set yourself apart. Making sure people know you are there to help. If you need ideas or strategies to help you along the way, just reach out or go to the website.

This email address is being protected from spambots. You need JavaScript enabled to view it.

Pending home sales shrunk 2.7% in May from the previous month, according to the National Association of Realtors^®. Three U.S. regions posted monthly losses, while sales in the Northeast surged. All four regions saw year-over-year declines in transactions.

“Despite sluggish pending contract signings, the housing market is resilient with approximately three offers for each listing,” said NAR Chief Economist Lawrence Yun, “The lack of housing inventory continues to prevent housing demand from being fully realized.”

The Pending Home Sales Index (PHSI)^* – a forward-looking indicator of home sales based on contract signings – dropped 2.7% to 76.5 in May. Year over year, pending transactions fell by 22.2%. An index of 100 is equal to the level of contract activity in 2001.

“It is encouraging that homebuilders have ramped up production, but the supply from new construction takes time and remains insufficient,” added Yun. “There should be more focus on boosting existing-home inventory with temporary tax incentive measures.”

Pending Home Sales Regional Breakdown

The Northeast PHSI climbed 12.9% from last month to 66.7, a decrease of 21.9% from May 2022. The Midwest index dropped 5.3% to 74.4 in May, down 23.5% from one year ago.

The South PHSI decreased 4.4% to 94.4 in May, reducing 19.6% from the prior year. The West index lessened 6.1% in May to 58.4, falling 26.6% from May 2022.

About the National Association of Realtors^®

The National Association of Realtors^® is America’s largest trade association, representing more than 1.5 million members involved in all aspects of the residential and commercial real estate industries. The term Realtor^® is a registered collective membership mark that identifies a real estate professional who is a member of the National Association of Realtors^® and subscribes to its strict Code of Ethics.

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^*The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.

Pending contracts are good early indicators of upcoming sales closings. However, the amount of time between pending contracts and completed sales is not identical for all home sales. Variations in the length of the process from pending contract to closed sale can be caused by issues such as buyer difficulties with obtaining mortgage financing, home inspection problems, or appraisal issues.

The index is based on a sample that covers about 40% of multiple listing service data each month. In developing the model for the index, it was demonstrated that the level of monthly sales-contract activity parallels the level of closed existing-home sales in the following two months.

An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined. By coincidence, the volume of existing-home sales in 2001 fell within the range of 5.0 to 5.5 million, which is considered normal for the current U.S. population.

NOTE: Existing-Home Sales for June will be reported on July 20. The next Pending Home Sales Index will be on July 27. All release times are 10 a.m. Eastern. View the NAR Statistical News Release Schedule.