Data and information are quickly becoming abundant, and often more disruptive than forward taking. Information overload prevents us from taking decisions or actions because we feel we have too much information to absorb and apply. That’s why need for insight and foresight are rapidly increasing.
INSIGHT VS. FORESIGHT
Both insight and foresight are needed in order a business successfully build a future.
Insight is the capacity to gain an accurate and deep understanding of someone or something happening now. Insight is something that answers question WHY? What matters now and why?
Foresight is the ability to accurately predict outcomes of proposed decisions and actions. What WILL happen or what will be needed in the future? What matters next?
FORESIGHT VS. TREND
Foresight sometimes gets confused with trend. Whereas foresight is an ability to predict, trend is a general direction in which something is developing or changing. Foresight is more about intuition, imagination, creativity, and out-of-the-box-thinking with ability to detect weak signals.
INSIGHT VS. HINDSIGHT
In practice, insight often gets confused with hindsight: understanding of a situation or event only after it has happened or developed. Despite bad reputation, hindsight often plays a valuable role in learning. What lessons can be learned?
ROLE OF AI ON ALL SIGHTS
Artificial Intelligence will have an impact on all levels of understanding. Instead of fearing the inevitable, for whatever reason, we can focus on opportunities.
Human value on data and information has already nearly vanished. It’s rapidly vanishing on insight and hindsight. Some of us are hoping it will not vanish on foresight and see AI as something that will allow us to focus on those added value parts: understanding, deciding, creating, imagining, and acting.
Foresight will be there to challenge existing norms, truths, mindsets and roles. To take us as individuals and businesses forward.