Become an Active Listener: Effective communication is a two-way street, and being an active listener is a skill that can transform relationships and outcomes. I’ve learned that actively listening to colleagues, team members, and partners fosters collaboration and innovation. It allows you to understand diverse perspectives, leading to better decision-making and stronger connections.
As a part of our series about “Big Ideas That Might Change The World In The Next Few Years” we had the pleasure of interviewing Akshay Bansal.
Akshay Bansal is an entrepreneur, Author, and growth Consultant, with 8 years of work experience in start-ups & innovation, his life purpose is to empower visionary teams and align them for the future by providing AI and business strategies for exponential growth.
Thank you so much for doing this with us! Before we dig in, our readers would like to get to know you a bit. Can you tell us a story about what brought you to this specific career path?
I grew up in a small city in India & completed my schooling from there only, since childhood I have been fascinated with cartoons like Dexter Laboratory, Iron man from where I discovered my obsession with technology,
It was not difficult for me to understand how AI would be the dominating technology of the 21st century just after I was exposed to it, I have always been inspired by the technological revolution, primarily Artificial Intelligence, like how humans & AI will work together and transform the world for good, so I just wanted to work in this industry anyhow,
Later I tried experimenting with different AI projects by hiring interns, forming a team to build small AI models for different industries like fashion, real estate, animation, etc., and literally learning the AI industry by doing.
Can you tell us about your “Big Idea That Might Change The World”?
The idea I need to propose is to ‘Urgent Need of Transformation of our Politics and Governance’ to focus on the new industrial revolution,
In our rapidly evolving world, technology is the driving force, permeating even the most traditionally non-tech sectors. With the rise of artificial intelligence and automation, our lives are on the cusp of a profound transformation, offering both the promise of abundance and the peril of job displacement,
Yet, regrettably, our government’s structures and systems remain woefully ill-prepared to assimilate this societal revolution, Currently, we find ourselves mired in divisive conversations on race, religion, and the like. It’s imperative that our politics transcends these divisions.
Technology can either lead us toward an inclusive, prosperous society or plunge us into chaos if we continue to squabble over dogmatic beliefs, It is clear that merely articulating data policies or AI strategies will not suffice, I propose following points which can create the right ecosystem for this inevitable future:
- Government control the basic needs: As we witness the dawn of an age where AI can provide abundance, from food to electricity, we must consider a future where we achieve Energy Independence, ample Food Supply, and Personalized Education for all, Health Care, (Thanks to Zero Marginal cost Principle), To ensure equitable distribution in such an era, the government must play a pivotal role in providing for these basic needs itself to the population to avert societal chaos.
‘Technology will be the enabler of abundance, but as a society, we need to make sure the abundance should reach every individual, and this is possible via government only.’ — Akshay Bansal
2. Progressive Technology and Data Policy: Advocate for a progressive technology and data policy that not only ensures robust data protection but also actively fosters open-source access to essential data, creating a collaborative environment for entrepreneurs to drive innovation.
‘Open sourcing data and policy is the gateway to fostering innovation, transparency, and equitable progress in the digital age.’
3. Countering Monopoly and Encouraging Entrepreneurship: Develop a comprehensive strategy to address the emergence of tech giants and the concerns related to surveillance capitalism. This strategy aims to ensure a fair and competitive landscape by implementing measures that both control monopolistic practices and actively encourage entrepreneurship, fostering a vibrant and diverse tech ecosystem.
‘As the conductor of progress, government must harmonize entrepreneurship’s melody with the refrain of checks and balances, thwarting the crescendo of monopoly.’ — Akshay Bansal
4. Facilitating Self-Actualization and Fostering Passion-Driven Pursuits: In the future, as we strive to meet our basic needs through advancements in technology and governance, it becomes imperative to go beyond mere survival and focus on enabling individuals to thrive. This involves a profound shift towards facilitating self-actualization, where individuals are empowered to discover and pursue their inner passions and purpose for the betterment of society.
‘In the future, wealth will no longer be the sole marker of status; instead, it will be our intellectual pursuits and self-actualized contributions that define us in this new era.’ — Akshay Bansal
5. AI Singularity Regulation for Ethical and Controlled Advancement: In the pursuit of advancing artificial intelligence and navigating the potential transformative power of AI singularity, we must prioritize rigorous regulation, We must also diligently address biases in AI systems, establish ethical frameworks, implement robust safety protocols & maintain human oversight, transparency.
‘AI singularity and the impending intelligence boom are inevitable, and it is our duty to control this intellectual beast currently in the making.’ — Akshay Bansal
6. Double Down on Cyber Security Infrastructure: Cybersecurity must be a paramount focus in our tech-driven era. We must double down on safeguarding our digital infrastructure to protect against evolving cyber threats and ensure the security and privacy of our interconnected world.
‘Cybersecurity is a shared responsibility, and it boils down to this: in cybersecurity, the more systems we secure, the more secure we all are.’ — Jeh Johnson
This proposal may require a more extensive discussion, but the essence is clear, our government and politics must evolve in tandem with this technological revolution. We must forge a new political narrative that harmonizes capitalism and socialism, with the government safeguarding basic needs while capitalism fosters exploration.
How do you think this will change the world?
The proposed ideas for the transformation of politics and governance in the face of the technological revolution have the potential to profoundly change the world in several ways:
- Equitable Abundance: By shifting the focus to ensure that technological abundance reaches every individual, we can potentially reduce economic disparities and ensure that basic needs such as energy, food, education, and healthcare become accessible to all. This could lead to a more equitable and prosperous global society.
- Innovation and Entrepreneurship: Encouraging entrepreneurship while controlling monopolistic tendencies can foster a competitive landscape where smaller businesses and startups thrive. This can stimulate innovation, job creation, and economic growth, ultimately benefiting society.
- Individual Fulfillment: Emphasizing self-actualization and passion-driven pursuits allows individuals to find meaning and purpose in their lives beyond traditional work. This shift could lead to greater personal fulfillment and a more engaged and satisfied population.
- Ethical and Controlled AI: Implementing rigorous regulation and ethical frameworks for AI singularity can mitigate the risks associated with unchecked AI development. It ensures that AI serves humanity’s best interests while maintaining human control and ethical standards.
- Universal Basic Income: The introduction of Universal Basic Income can provide a financial safety net, particularly in a world where automation may disrupt traditional employment. This can reduce poverty, enhance social stability, and provide individuals with the freedom to explore their interests and passions.
- Fostering an Inclusive Tech-Driven Society: Beyond Religious Divides: To uplift society through technology is our imperative. We must leapfrog divisive ideologies & recognizing that we are constructing a powerful force that can lead us to an abundant future, as technology fulfils our basic needs, following Maslow’s hierarchy, we can ascend towards self-actualization.
“Technology is enabling us to ascend Maslow’s hierarchy of needs. As a society, we should uplift ourselves collectively, transcending divisions based on religion, race, or colour.” — Akshay Bansal
Overall, these proposed changes have the potential to create a more inclusive, innovative, and equitable world. By embracing technology while ensuring responsible governance, we can navigate the challenges and opportunities of the technological revolution and steer our societies toward a brighter future.
‘We humans are not meant to work for a living, but to explore our passions and the boundless possibilities that await.’ — Akshay Bansal
Was there a “tipping point” that led you to this idea? Can you tell us that story?
Back in 2015, I just finished my MBA, but my curiosity was wild, it was literally fight against time to learn more and more, I read books across sectors like technology, society, philosophy, politics and later I realised that we are transitioning from Information age to Innovation age, for which I published a book ‘The Innovation Age’, The basic theme was, we will be having the abundant future and we must start following of passion and self-actualisation,
Developing my philosophy for the future by reading, digesting so many concept and concluded with the deep understanding of this tech revolution and realise the revolution coming.
What do you need to lead this idea to widespread adoption?
To lead the idea of transforming politics and governance in response to the technological revolution to widespread adoption, several key factors and actions are essential:
- Public Awareness and Education: Effective communication and education campaigns are necessary to raise public awareness about the importance of these changes and their potential benefits. People need to understand how these transformations can impact their lives.
- Political Will: Achieving widespread adoption requires political leaders and policymakers to recognize the urgency and necessity of these changes. Engaging with political leaders, advocacy groups, and think tanks can help build consensus and support at the government level.
- Legislation and Policy Reform: Implementing the proposed changes often requires legislative and policy reforms. Building a coalition of supporters in government, from various political parties, can help push through necessary legislation.
- Collaboration with Tech and Business Leaders: Engaging with technology and business leaders who understand the potential benefits of these changes can provide valuable support. These leaders may have resources and influence to help drive adoption.
- International Cooperation: Many of these changes have global implications, such as data policy and AI regulation. Collaborating with other countries and international organizations is crucial to establish common standards and regulations.
- Pilot Programs and Demonstrations: Implementing pilot programs at local or regional levels can serve as effective demonstrations of the proposed changes’ viability and benefits. Successful pilots can garner support and serve as models for broader adoption.
Leading such transformative changes demands persistence, a clear vision, and collaboration across various sectors and stakeholders. It’s essential to create a compelling narrative that highlights the benefits of these changes for society as a whole and to build a broad and inclusive coalition of support to drive widespread adoption.
Just as governments have managed nuclear energy for abundant electricity instead of war, so must they orchestrate AI to usher in an era of prosperity. — Akshay Bansal
What are your “5 Things I Wish Someone Told Me Before I Started” and why.
I have done many mistakes and as a deep thinker, I always reflect and learn from them, and here are my top 5 learning you can adopt to literally bypass the mistakes and save time, energy and emotions in your journey to the top:
1. Cultivate a Growth Mindset: Early in my journey, I wish I had understood the power of a growth mindset. It’s the foundation for resilience and continuous improvement. I’ve learned that challenges and failures are not setbacks but opportunities to learn and grow. Embracing this mindset has helped me navigate obstacles with optimism and determination, ultimately leading to better outcomes.
2. Seek Knowledgeable Mentors: Having mentors is akin to having guides who illuminate your path with their wisdom. I recall a time when I faced a complex business decision, and I reached out to a seasoned entrepreneur for guidance. Their insights and experiences were invaluable, helping me make a well-informed choice. Surrounding yourself with mentors can save you from costly mistakes and provide valuable shortcuts to success.
3. Become an Active Listener: Effective communication is a two-way street, and being an active listener is a skill that can transform relationships and outcomes. I’ve learned that actively listening to colleagues, team members, and partners fosters collaboration and innovation. It allows you to understand diverse perspectives, leading to better decision-making and stronger connections.
4. Curate Your Environment: Your environment plays a pivotal role in your personal and professional growth. In the digital realm, where much of our work takes place, it’s essential to curate your virtual environment. Surround yourself with individuals who inspire and challenge you. Join communities and networks that align with your goals. This deliberate choice of environment can accelerate your career progress.
5. Embrace Lifelong Learning: Recognize your unique learning style and embrace it. For me, reading books has been a transformative source of knowledge. However, others may learn best through conversations or hands-on experiences. Identify your preferred learning approach and dedicate time to it. A commitment to lifelong learning ensures that you remain adaptable and well-equipped to thrive in an ever-evolving landscape.
These lessons, learned through reflection and experience, are the cornerstones of my journey. They have not only guided me toward success but also allowed me to navigate challenges with resilience and continuous improvement.
The future of work is a common theme. What can one do to “future proof” their career?
The rapidly evolving landscape of work has instilled a sense of concern and reflection in individuals worldwide. It prompts us to deeply contemplate our relevance in a future driven by automation and technology. However, there are proactive steps we can take to future-proof our careers:
1. AI Skills: Embrace the AI revolution by immersing yourself in AI skills. It’s not just about understanding the technology but also being proficient in its application. Explore the world of no-code AI tools that empower you to create AI solutions without coding expertise. Familiarize yourself with AI operations to effectively leverage these powerful tools.
2. Data Literacy: While you don’t need to be a data scientist, developing data literacy is essential. Understanding data and its potential within your industry is critical. Learn to interpret data insights, as they are the driving force behind informed decision-making and innovation.
3. Expand Your Range: The era of AI allows for versatility. Specialization is valuable, but becoming a generalist who can adapt and diversify their skill set through AI is equally important. Embrace AI as a tool to amplify your capabilities across multiple domains, making you indispensable in various contexts.
4. Lifelong Learning: In the future, just as we allocate working hours, we will the concept of learning hours, Cultivate a habit of lifelong learning, where continuous education becomes an integral part of your life. Staying relevant means embracing new knowledge and evolving with the changing landscape.
5. Be an Explorer: Consider yourself endowed with the powers of a king, but it’s not just about having the tools; it’s how you wield them. Individuals now possess an array of resources to explore new markets, solve complex problems, and create innovative solutions. Become an explorer in this digital realm, leveraging your newfound capabilities to navigate uncharted territories.
6. Embrace a Growth Mindset: Finally, adopt a growth mindset. Embrace challenges as opportunities for growth, and view failures as stepping stones toward success. A growth mindset fosters resilience and adaptability, allowing you to thrive in the ever-evolving world of work.
There is no magic formula for the future but based on my experiences and understanding, I feel that adopting these points will give the positive push to your career in coming uncertain future.
Based on the future trends in your industry, if you had a million dollars, what would you invest in?
In today’s landscape, virtually every industry is becoming, a tech company, technologies like AI becoming increasingly democratised, embracing these innovations is no longer an option but a necessity to stay competitive. However, as companies across the board become highly effective and efficient, what sets them apart is their deep understanding of their users and the communities they serve,
In the future, the differentiator won’t solely be intellectual proprietary rights; it will be proprietary data combined with a profound understanding of the community it serves. To that end, my investment strategy would focus on companies within my sector that prioritize customer-centricity and data utilisation. These companies, which leverage data intelligently and foster a keen understanding of their user communities, will be at the forefront of innovation and, consequently, wealth creation.
Which principles or philosophies have guided your life? Your career?
The principles and philosophies that have guided my life and career are deeply rooted in the Hindu philosophy of ‘Sanata Dharma’ , encompassing Bhakti Yoga, Gyaan Yoga, and Karma Yoga.
I believe that these philosophies offer profound insights into the essence of human life and its relation to various aspects, including entrepreneurship:
- Bhakti Yoga (Path of Devotion): This philosophy resonates with my belief in having a clear and purpose-driven life and career. It’s about devotion to one’s purpose, and as an entrepreneur, this serves as the driving force behind my endeavors.
- Gyaan Yoga (Path of Knowledge): Lifelong learning is at the core of Gyaan Yoga. It aligns perfectly with my commitment to continuous education and staying up-to-date with the latest advancements, especially in the dynamic field of technology and entrepreneurship.
- Karma Yoga (Path of Action): The emphasis on mindful and purposeful action in Karma Yoga aligns with my approach to entrepreneurship. It’s about being conscious of the actions we take, ensuring they are aligned with our purpose and carried out to the best of our knowledge and abilities.
Incorporating these philosophies into my life and career has not only provided me with a strong foundation but also a holistic framework for personal and professional growth, ensuring that my actions are purpose-driven, knowledge-based, and aligned with a higher vision.
Can you share with our readers what you think are the most important “success habits” or “success mindsets”?
To pave the path to success, adopt a holistic approach that intertwines key principles and cultivates a growth mindset, You can start with these following points:
1. Self-Detoxification: Success begins with detoxifying your life, eliminating negative habits, both physical and mental. This involves breaking free from unhealthy routines, toxic relationships, and limiting beliefs. A clean slate creates the space for positive change.
2. Positive Well-being: Feeling good physically and mentally is the cornerstone of success. When you prioritise your health and well-being, it cultivates a positive mindset. Exercise, a balanced diet, and regular mindfulness practices like meditation contribute to overall vitality.
3. Strong Desire: Success starts with a burning desire to achieve your goals. This desire serves as your initial momentum, propelling you to make transformative changes. It’s the fuel that empowers you to leave behind detrimental habits, such as unhealthy eating.
4. Positive Lifestyle Cycle: Building success is akin to constructing a positive lifestyle cycle. Begin by disciplining your dietary choices, eliminating junk food, and embracing nutrition that fuels your body and mind. After a few days, incorporate exercise and yoga to enhance physical and mental fitness.
5. Continuous Learning: Success thrives on the foundation of knowledge. Engage in continuous learning by immersing yourself in positive self-help books, insightful podcasts, and educational resources. This habit nurtures personal growth and expands your horizons.
6. Discipline: Once you’ve embarked on this journey of self-improvement, channel your high potential into focused work. Dedication and discipline become your allies as you build your career or business from a solid foundation.
Just start with detoxification and everything will be line-up for you.
Some very well known VCs read this column. If you had 60 seconds to make a pitch to a VC, what would you say? He or she might just see this if we tag them 🙂
I would like to meet the VC’s at Sequoia Capital & a16z VC firms to share my start-up which is unique and uses data flywheel.
How can our readers follow you on social media?
You can connect with me on LinkedIn and Twitter. As an exponential organization consultant, I’m committed to assisting you with your projects, ensuring they align with the future, and harnessing the exponential potential of AI.
LinkedIn: https://www.linkedin.com/in/iakshaybansal/
Twitter: https://twitter.com/Akshayideas
Thank you so much for joining us. This was very inspirational.
