People all around the world will be remembering the beginning of 2020s from its global challenges. Worth mentioning are the covid-pandemic, Russias attack on Ukraine and the high inflation with rising interest rates. 

Now we have started the year 2024 which people are expecting to be better than the three previous ones. I collected some information from Sitra which is a Finnish government funded future house. Let’s look into the global megatrends that are currently shaping our ongoing decade.

Megatrends 2024 according to Sitra:

1. Crumbling of the carrying capacity of the nature
2. Challenges to well-being are increasing
3. The struggle for democracy intensifies
4. Competition for digital dominance is accelerating
5. The foundation of the economy is crumbling

Crumbling of the carrying capacity of the nature

Human activities have been hurting the mother nature for in many different ways. Over consumption of natural resources, spread of harmful alien species and acceleration of climate change are truly pushing our nature to the limit (WWF n.d.).

”We are living in the middle of the ecological sustainability crisis. Human activities are overburdening animate and inanimate nature over the limits of carrying capacity and thus endangers the basis of our entire economy and well-being. We are in a fastening hurry for ecological reconstruction, i.e. the transition to a society that improves the state of nature and the well-being of people.” (Dufva 2023.)

People are now taking a more serious approach towards protecting the earth than ever before. One of the highlights is that United Nations had a climate meeting where they made a decision for the first time to move away from fossil fuels. (Dufva 2024.)

Most effective ways to shape the future towards sustainability are found in the tracking of our nature footprint and in the invention of new sustainable solutions. (Dufva 2024.)

Some capitalists might disagree in the first place but it is mandatory to reduce the pressure we are putting on nature because on the other hand our economy, well-being and health are dependent on the nature. (Dufva 2024.)

Challenges to well-being are increasing

We are used to our current level of well-being but the reality is that it is not that self-evident. Finland and the whole world will be facing multiple changes which are inevitably going to effect our societies and their well-being if no actions are taken. The biggest visible threats are the urbanization and the aging and diversifying population. Also the uncertainty of employment, ecological sustainability crisis and the pandemic have risen the total amount of mental health problems. At the same time in welfare states funding has seen better days. (Dufva 2024.)

Moving forward is facilitated by both nature and technology. In discussions about well-being, it has been overlooked that humans are part of nature and our well-being is directly dependent on the well-being of nature. Planetary health is an approach that recognizes the interdependence between human well-being and the state of the environment. By taking care of nature, we also take care of ourselves. On the other hand, new technology and reliable use of health data can also provide solutions to challenges. They enable more personalized and preventive healthcare cost-effectively. (Dufva 2024.)

The struggle for democracy intensifies

We might be seeing interesting changes coming when the crises are piling up. Some democracies have strengthened and some weakened. However the escalation of the debate, the stirring up of confusion and the geopolitical power struggle might create the need to reform decision-making and keep democracy, inclusion and citizens’ opportunities for influence. (Dufva 2023.)

The geopolitical power struggle has intensified over the past year, leading to increased conflicts that threaten to escalate. Democracy is increasingly being challenged but at the same time there is a stronger desire to defend it. The upcoming year might be a decisive year for elections and a kind of test: how well can we find a way forward in a landscape blurred by hybrid influence, the fomentation of confusion, and geopolitical tensions. (Dufva 2024.)

Strengthening democracy is paramount, and technology offers opportunities to enhance it by supporting direct democratic processes and facilitating extensive citizen consultations. (Dufva 2024.)

Competition for digital dominance is accelerating

Technology is advancing quickly and is invading new areas of our life while collecting and leveraging data for increasingly tailored services for individuals and organizations. At the same time there are debates about digital power who collects and utilizes data, digital regulations, resource demands of technology, and broader technological directions. (Dufva 2023.)

The biggest topic of the technology conversation last year was the artificial intelligence. We can all agree we saw it everywhere. The questions around AI discussion were mostly about data usage, privacy concerns, resource distribution, and environmental impact in the digital sphere. The EU aims to set regulations guiding artificial intelligence and digital services toward more sustainable outcomes for society and the environment. (Dufva 2024.)

AI will continue to be in the center of attention next year but it’s important to also consider other technological advancements such as high-performance computing, quantum computing, fast wireless networks, and cybersecurity. Also, resilience, or the ability to function in adverse conditions and during cyberattacks, remains vital. (Dufva 2024.)

The foundation of the economy is crumbling

The growing global inequality and ecological sustainability crisis are one of the reasons to reform the economy. Wealth is increasingly concentrated among fewer individuals while extreme weather events and the collapse of natural services weaken economic conditions. Responsibility is emphasized in all activities. (Dufva 2023.)

While trend reports focus on changes in economic structures and processes, deeper reforms that redefine economic paradigms receive less attention. Discussions on economic reform often emphasize sustainability, but this alone is insufficient. (Dufva 2024.)

A more promising path forward is hidden in a regenerative economy. This causes an economy that serves life, strengthening the natural and social systems upon which the economy ultimately depends. The same principles promoting systemic health in all living systems are applied to economic activities. It’s not just about what people do for nature and others but how they collaborate with nature and others. (Dufva 2024.)

Summary

In today’s world, we’re facing a mix of challenges: from nature’s limits to our well-being, democratic struggles, digital battles, and economic woes. These issues are all tangled up, needing solutions that see how everything connects – environment, society, politics, tech, and money. As we figure things out, working together and thinking ahead, we’re heading toward a brighter, more sustainable future.

Before we figure anything out we need to thank Sitra for bringing these megatrends together and in so easy to understand form! Without these us regular people wouldn’t be able to react. 

Sources:

Dufva, M. (2023) Sitra. Megatrendit 2023. Viitattu 12.2.2024 <https://www.sitra.fi/julkaisut/megatrendit-2023/#luonnon-kantokyky-murenee >

Dufva, M. (2024) Sitra. Megatrendit 2024. Viitattu 12.2.2024 <https://www.sitra.fi/blogit/megatrendit-2024/>

WWF. (N.d.) WWF Suomi. Luontokato. Viitattu 16.2.2024 <https://wwf.fi/uhat/luontokato/>