We’ve been discussing the impact of automation, AI and other technology on jobs and the workplace. But the future of work is much more than the impact of technology on existing jobs. There are lots of other forces at play, and PWC outlines it well in “Workforce of the future: The competing forces shaping 2030.”
Disruptions in technology are coming head to head with government regulations, and other competing forces. PWC has identified five mega-trends that will shape the future of work:
🚀 Technological innovation
Breakthroughs in technology have improved our lives, raised productivity, living standards and average life span, but as we’ve seen, it has also dramatically changed the nature and number of jobs available.
🚀 Demographic shifts
The longer life-span of humans is putting additional pressure on business, social institutions and economies. Older workers will need to reskill, while societies with an aging population are driving the need to automate processes faster.
🚀 Wide-scale urbanisation and gentrification
Rapid urbanisation and the immigration of the younger workforce towards cities has increased the pressure on cities to create more jobs. Some of the largest cities of the world already have GDPs larger than mid-size countries.
🚀 Shifts in global economic powers
Technology is increasing the gulf between the developed and developing countries; developing countries that modify their business ethos will attract more investment, and those who improve their education system will stand to benefit more.
🚀 Resource scarcity & climate change
Depleted fossil fuels, extreme weather, rising sea levels and water shortages, and other environmental changes have led to the creation of new types of jobs in alternative energy, new engineering processes, product
design and waste management.
“So what should we tell our children? That to stay ahead, you need to focus on your ability to continuously adapt, engage with others in that process, and most importantly retain your core sense of identity and values. For students, it’s not just about acquiring knowledge, but about how to learn. For the rest of us, we should remember that intellectual complacency is not our friend and that learning — not just new things but new ways of thinking — is a life-long endeavour.” - Blair Sheppard Global Leader, Strategy and Leadership Development, PwC
The way forward is to monitor trends and pay attention to changes in the world economy to stay on top of the game, and land on your feet with every change in the market by upskilling, and adapting to the changes in the new economy.