According to Devin Fidler, Research Director at the Institute for the Future, “There are some overarching shifts poised to change the nature of work itself over the next decade, including a demand for new skills”. “Sixty-five percent of children entering grade school now will end up working in careers that haven’t even been invented yet,” Cathy Davidson writes in her new book, “Now You See It.”
How the latest and emerging technologies are impacting the future of work
As we’re amid a life-changing influence of the fourth industrial revolution, its time now to prepare for the future of work. A recent study carried on by World Economic Forum reports that soon enough, more than one-third of the skills we think are necessary for today’s workforce would have changed. Can you visualize your workplace for ten years from now? Chances are it’ll be drastically different compared to the present. The rapid pace of technological evolution is having a massive impact on the job profiles, the dynamics of human resources, and the idea of a workspace.
To stay pertinent and competitive, you need to understand the impact of the emerging technologies on the future of work. We are now experiencing a fundamental and critical transformation in the way we do our work. Automation and ‘thinking machines’ are replacing humans and changing the skills that organizations are looking for in potential employees while hiring. The pace of change is accelerating by the day. Companies are looking for the right talent. And the meaning of ‘talent’ has undergone substantial evolution. It no more the same as ten years ago; many of the job roles, essential skills, and job designations of tomorrow are not known to us today.
How the Future of Work Will Change?
|Assisted Intelligence- Present||Augmented Intelligence- Emerging|
|Automating repetitive, standardized, or time-consuming tasks and providing assisted intelligence.||An essential change in the nature of work. Humans and machines collaborate to make decisions|
|Increased demand for STEM skills to build a new technological ecosystem||Exclusively human traits – Emotional Intelligence, Creativity, Persuasion, Negotiation, Innovation – become more valuable|
Get a 5- dimensional Psychometric assessment’s 32 page complete report and a counselling session with the career mentor.
Be clear and certain before deciding on the next option of academic program. Make sure your choice takes you nearer your career goal.
📞 9483921010 for scheduling an appointment.
The emerging technologies will impact the future of work in these major areas:
• The nature of work- Skills up-gradation
Technologies will reduce the need to perform all the monotonous and repetitive tasks manually. While lesser workers will be hired for manual tasks, more will be employed for job functions that involve creative and strategic thinking. Problem-solving, communication, decision making, and design will become more crucial for business operations. Proficiency in learning the latest skills will be valued more than specific knowledge. Organizations will look for employees who have the mental flexibility to learn and upgrade regularly. Employees have to adapt to the “lifelong retooling” of their skill-sets as Unlearning becomes the new Learning.
• How Work Is Done- Humans or Machines
Developments in AI-driven technologies and robotics will increase the possibilities of work that can be done by smart machines. By 2025, around 100 million jobs in the knowledge sector shall be affected due to advancements in automated technologies. Meanwhile, jobs will cease to be monotonous and routine, as employee’s job roles shall be redefined due to the synergy established between technology, human skills, and advanced expertise.
• Who Does the Work- Freelancers or Full-timers
Technology enables businesses to utilize a gamut of full-time employees and freelancers to managed services and gig workers to minimize the cost of business operations. The traditional employee lifecycle will become redundant. They’ll use multiple employment formats to extract the maximum from the employed resources in terms of creativity, experience, expertise, and skill sets needed for the successful completion of any ongoing project. As such, hiring will focus more on problem-solving ability and task performance of skills of prospective employees.
• Where the Work Is Done- From multiple connected locations
Emerging communication platforms have broken down the geographical barriers among multiple office locations, and remote teams to ensure smooth and productive teamwork. Organizations can now overcome the obstacles of distance and tap into an international pool of talent so projects can be completed as cost-effectively as possible.
Some of the Key Emerging Technologies That Will Impact the Future of Work
The idea of work is fast evolving, and here are some of the crucial and latest technologies that are impacting the future of the workplace:
• Visual, Low-Code Process Automation
Automation is fundamental in increasing efficiency, reducing human error, and lowering operational costs. The corporates investing in automation, now require a smaller number of employees as most of the repetitive and monotonous tasks would be automated. Human resources would be majorly utilized in strategic decision-making and creative problem-solving tasks.
• Cloud-Based Communication Platforms
Unified communications (UC) platforms facilitate organizations to leverage the benefits of a remote workforce effectively. They allow real-time communication and collaboration, allowing companies to access a global workforce and attract talent without being hindered by inefficient communications. It alters the way work gets done, prompting a re-thinking of “workplace” and introducing a global element to many workforces.
• AI-Driven Technologies
The Artificial Intelligence (AI) umbrella covers Machine Learning (ML), Deep Learning, Natural Language Processing (NLP), Natural Language Generation, and more.
The benefits of AI allow organizations to efficiently extract insights from their proprietary business data for more accurate and timely decision-making. AI is making work more fun and fulfilling by boosting the capabilities of knowledge workers.
• Digital Talent Platforms
The digital platforms allow the corporates to access talent from all over the world through a variety of arrangements. These technologies are encouraging organizations to reconsider their talent acquisition model and employee lifecycle. Another significant benefit of the digital talent platform is that it makes the hiring process very efficient by eliminating the impact of a mismatch between skills, availability, and location. Going forward, companies will stop hiring people for specific roles but will look to hire resources based on the skills set required to complete a particular project successfully.
• Quantum Computing (QC)
They’re used for analytics and modelling and can support an array of augmented reality (AR) and virtual reality (VR) applications. The ability to gain new knowledge and adapt to the latest technological platforms will become the key to the success of the future workforce.
• 3D Printing
Additive manufacturing or more popularly known as 3D Printing is a process of making 3-dimensional solid objects from a digital file. Faced with the question of which technologies they are more likely to adopt in their company by 2022, 41% of respondents from across the globe (up to 52% in Western Europe) answered “3D printing”.