There is no doubt that this project is ambitious - involving 1 billion Euros spent over a 10 year period, involving research in Austria, Czech Republic, France, Germany, Greece, Israel, Italy, Poland, Romania, Spain, Switzerland, United Kingdom, China and Japan. A large multidisciplinary study, it has all the promise of being a paradigm-shifting project.
|Integrated disciplines in the knowledge accelerator via: FuturICT|
"We know more about the universe these days than about social systems and economics." Dirk HelbingWhat is the purpose of this project? We shall quote from their own website:2
The ultimate goal of the FuturICT flagship project is to understand and manage complex, global, socially interactive systems, with a focus on sustainability and resilience. Revealing the hidden laws and processes underlying societies probably constitutes the most pressing scientific grand challenge of our century and is equally important for the development of novel robust, trustworthy and adaptive information and communication technologies (ICT), based on socially inspired paradigms.
|a chart demonstrating some complex systems in science via:wikipedia|
Professor Helbing in a recent presentation, quoted the words of Columbia University's President, Lee Bollinger in regards to the need for this kind of understanding of these world changing forces,
The forces affecting societies around the world...are powerful and novel. The spread of global market systems...are...reshaping our world...raising profound questions. These questions call for the kinds of analyses and understandings that academic institutions are uniquely capable of providing. Too many policy failures are fundamentally failures of knowledge.We completely agree with this view. Indeed, as the minute nanosecond buying decisions are made billions of times a day by computers, would it not make sense to use computers to be able to predict when some crisis approaches on Wall Street? Would we not need their fast reaction time as an early warning system?
We post a short video, to briefly explain the concept of FutureICT and the challenges which brought into existence. If you cannot see the embedded video, here is the link: http://youtu.be/WR3cUEb-99E.
In our next installment, we shall discuss this new complexity theory which is affecting every branch of science.