Summary of the project

The world faces existential threats as the financial crisis of 2007-2009 and its consequences still endanger the stability of economy in Europe and worldwide. Resource shortages are impending. Use of fossil fuels and raw materials has more than tripled in the last 40 years. Climate change may wipe out one sixth of all species. Terror, wars, and migration create increasing challenges. To manage scarce resources and support endangered people, powerful global information systems have been built, based on Big Data and Artificial Intelligence. But at the same time, misuse of Information and Communication Technologies is exploding. The digital automation is expected to claim a large amount of jobs within coming years.

... emerging fields such as Data Science, Computational Social Science and Global Systems Science would offer promising new approaches to the [global] problems.

The digital transformation of our society progresses at full steam and inspired the FuturICT initiative back in 2010. The FuturICT Pilot called for a major, flagship-size effort to address these challenges by unleashing the full potential of the Information and Communication Technologies. It became clear that emerging fields such as Data Science, Computational Social Science and Global Systems Science would offer promising new approaches to the above problems. However, the problems in the above areas are evolving quickly and a FuturICT 2.0 project is timely. As Albert Einstein stressed, problems cannot be solved within the prevailing paradigm that created them. The World Economic Forum has identified 10 key global challenges in 2015, which cannot be addressed with conventional means as for example today's Big Data approaches, which imply misconceptions such as over-fitting and spurious correlations. Disruptive innovation paths are needed.

FuturICT 2.0 will pursue disruptive innovation by addressing the problems at their root: lack of sustainability.

FuturICT 2.0 will pursue disruptive innovation by addressing the problems at their root: lack of sustainability. The combination of the Internet of Things with Blockchain Technology and Complexity Science creates entirely new opportunities to address our challenges. We propose this under the label "finance 4.0", which stands for a multi-dimensional incentive system to manage complex systems and promote a circular sharing economy to create a high quality of life for more people with less resources. The finance 4.0 system is liberal, democratic, pluralistic, participatory, social and ecological. It makes use of the immaterial nature of information, boosts combinatorial innovation and creates opportunities for all, by fostering an open and participatory production and service ecosystem. Our current concepts of globalization, optimization, regulation and administration have served us well, but have also reached their limits. For this reason, FuturICT 2.0 explores the potentials of complementary growth principles such as co-creation, co-evolution, collective intelligence, self-organization, and self-regulation. Information and communication systems, which empower everyone to take better decisions, to be more creative and innovative, and to coordinate and cooperate with others, would lead to better business models, products and services, smarter cities and smarter societies. In other words, the combination of smart technologies with smart citizens will be the success formula for the future.

In other words, the combination of smart technologies with smart citizens will be the success formula for the future.

The project will bring together and enlarge the communities of social (qualitative and quantitative), computational and complexity scientists, foster inter-, multi-, and trans-disciplinary collaboration and exchange - and pave the way for a scientific and organizational framework of the digital economy and society. On the organizational level, we will adopt the instrument of jointly-supervised ICTSS projects in addition to the traditional workshops, exchanges, and meetings. On the technological level, we will bring together Big Data, Artificial Intelligence, Agent-based Simulation, Internet of Things, Blockchain Technology, and Complexity Science, and assess the implications from a social science and systemic perspective. On the methodological level, we will combine mathematical modeling with massive computer simulations, data science, and large-scale experimental approaches, including laboratory and web experiments, crowd sourcing and citizen science, virtual and augmented reality, and multi-player online games. The adopting of a federative approach to these issues will allow the global ICT system to adapt to social and cultural needs, react to unforeseen scenarios and increase societal resilience. By gathering together key partners with strong involvement of industry and junior scientists from complementary fields, we expect to make significant progress towards understanding and managing complex, global, socially interactive systems, while preserving sustainability, resilience and cooperation.

The adopting of a federative approach to these issues will allow the global ICT system to adapt to social and cultural needs, react to unforeseen scenarios and increase societal resilience.

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