The Shift from a Thinking to Feeling Economy

A summary of the main point from the book "The Feeling Economy" by Roland T. Rust and Ming-Hui Yuang, which is that we’ve gone from a Physical Economy (manufacturing) to a Thinking Economy (information) and are now entering a Feeling Economy (empathy).

Your career and future employability will depend on how you add value in a world where AI (artificial intelligence) + HI (human intelligence) are converging. Reading faces (facial coding), voices (e.g., Apple’s Siri) and bodies (via Fitbit) fit a world in which your emotional intelligence skills will be vital.

Here are some signposts of the basic socio-economic change underway from a thinking to feeling model:

1987: FCC repeals Fairness Doctrine, opening the way for Rush LimbaughFox News will launch in 1996

1995: Daniel Goleman publishes Emotional Intelligence

1997: Big Blue (IBM) defeats world chess champion Garry Kasparov; emojisfirst appear in Japanese mobile phones

1998: launch of Google & also Sensory Logic (my company, using facial coding to capture/quantify emotions)

2001: release of Stephen Spielberg movie AI Artificial Intelligence

2004: Facebook launches

2005: Malcolm Gladwell publishes Blink (which highlights facial coding)

2007: Fitbit launches; I release my book Emotionomics

2009: Lie to Me TV series based on facial coding launches on Fox (#29 most-viewed show that season); Affectiva and Realeyes switch to applying (automated) facial coding to business in imitation of Sensory Logic

2011: launch of the 1st digital assistant, Apple’s Siri

2014: SoftBank Robotic’s Pepperis 1st social humanoid robot

2016: Apple buys Emotient, the original facial coding automation company

2017: Female robot Sophia named an AI citizen in Saudi Arabia

Released today: episode #44 of “Dan Hill’s EQ Spotlight,” featuring Ming-Hui Huang, the co-author of The Feeling Economy: How Artificial Intelligence Is Creating the Era of Empathy. Listen to the clip below and click on the image to get to the new episode.

Image of Author Ming-Hui Huang and her book "The Feeling Economy" for episode 44 of Dan Hill's EQ Spotlight, titled When A.I. Thinks, Humans Feel. Click on the image to get to podcast link.

Huang Ming-Hui Huang holds a number of posts. She’s a Distinguished Professor at National Taiwan University; a fellow of the European Marketing Academy (EMAC); an International Research Fellow of the Centre for Corporate Reputation, University of Oxford, UK; and a Distinguished Research Fellow of the Center for Excellence in Service, University of Maryland, USA. She is also the incoming Editor-in-Chief of the Journal of Service Research.

Dan Hill, PhD, is the president of Sensory Logic, Inc. His latest book, available on Amazon is Blah, Blah, Blah: A Snarky Guide to Office Lingo.