Wednesday Scribbles : Future of Jobs and This Future is Today

Notes from a changing world…
August, 2nd

“We need to embrace the democratization of technology, implying that anyone, anywhere can become a maker or a toolmaker.”

– Sharad Sharma, Co-founder, iSpirt

A WEF report predicted that robotic automation will result in the loss of more than 5 million jobs across 15 developed nations by 2020. Jobs in transportation, logistics, and office/administrative support and other occupations within the service industry are at high risk of this new digital era.
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New advanced developments in technology are transpiring at a rapid rate, which is increasing productivity, rendering some occupations obsolete and creating new ones. This ‘fourth industrial revolution’ will lead to job creation, job change, job destruction and job shift.
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In the digital age, current professions appear antiquated and opaque. Traditional business models are vulnerable to digital disruption given free access to the Internet of knowledge. However, for businesses and individuals, this is also the era of information liberalization.

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Along with jobs, the education system will also get disrupted. The new age will value people who have tremendous potential to adapt themselves in any environment. These people will be more ‘generalists’ than ‘specialists’.
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Challenges in labour markets are increasing; household incomes in advanced economies have been stagnating, and there are increasing skill gaps among workers. This disruption is an opportunity as well as a challenge.
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There has been much speculation about the number of new job titles collected in the census that didn’t exist five years ago such as social media manager, cloud services specialist and data scientist. Thus, disruption does not mean that there isn’t potential for job creation, challenge is to ensure that no section of the workforce is left behind.
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The only way to survive and maintain a job in this world of digital disruption is to harness the people’s creativity and keep them up skilled to outsmart the machine as it claws the bottom of the workforce pyramid.
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For a talent revolution to take place, governments and businesses will need to profoundly change their approach to education, skills and employment, and their approach to working with each other.
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Developing innovation jobs is important to take advantage of the opportunities presented by digital transformation. The ‘start-up’ phenomenon is well suited within the framework of digital disruption as it provides a new tool to drive and achieve innovation.
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Digitally maturing companies are extremely agile and empower and incentivize their employees to drive change. Such companies put a strong emphasis on innovation and in order to keep pace with digital transformations, they are reorganizing and redistributing their vertical departments horizontally.
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The digital journey is a significant change for all organisations. Business leaders need to align the workforce and hiring strategy with their respective businesses, experiment with more agile ways of working, define the digital gaps that people can fill in, develop digital competencies using social media platforms and engage with the workforce using collaboration technologies, thereby encouraging innovative thinking and decentralised decision-making within organisations.

(Disclaimer: All information quoted here is linked to the respective source articles)
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