I expect the conversation regarding the Future of Business to intensify over the coming months. Evidence is mounting that business as usual is a thing of the past. In a recent post by SAP, they present ninety nine ways that digital will change business. As you look at the information presented, and see the number of shifts occurring at the same time, it’s hard to imagine a business landscape that weathers this storm unscathed. Here are examples of these shifts from the SAP post:
- At the current turnover rate, 75% of the companies in the S&P 500 in 2027, will be new (companies not currently in index today)
- By 2019, approximately one quarter of the entire U.S. workforce will be independent workers (self-employed, independent contractor, freelancer, temp contractor, etc.)
- By 2030, 10% of the largest companies in the U.S. will be virtual corporations (less than 10% of their workers will be in an office at any point in time)
- 50% of the U.S. Jobs lost in the 2008 recession were middle-skilled jobs, but only 2% of the jobs gained since then have been middle-skilled
- By 2025, there will be 10 global virtual currencies that will be considered mainstream. Their combined market value will exceed $5 Trillion, and Bitcoin will still be the largest.
- Private and commercial robot use will grow 2,000% from 2015 to 2030, creating a $190 billion market
- By 2030, 2 billion jobs will disappear – roughly 50% of all the jobs on the planet – as a result of technology advances
- 3D Printing usage will grow 2000% between 2015 and 2030
- Purpose-driven and value-oriented organizations outperform their competition 15 to 1
- By 2030, sensor use will grow 700,000%, solving nearly every human need such as cancer-killing chips
- By 2020, information will reinvent, digitize, or eliminate 80% of business processes and products
- Although 90% of companies view advanced and predictive analytics as important, less than 30% have currently deployed them, and only 30% have plans to do so
- There will be more words written on Twitter in the next two years than contained in all books ever printed
- By 2025, the total worth of IoT-enabled technology is expected to reach $6.2 trillion – most of that in healthcare (2.5 Trillion) and Manufacturing (2.3 Trillion)
- Within the next five years, more than 90% of all data from IoT will be hosted in the Cloud, reducing the complexity of supporting IoT “Data Blending
Just a small sample (more via the link above) supporting the notion that the future of business could look considerably different than its past. I’ll pursue the future business landscape in up-coming posts.
Reimagining the Future 
[…] I expect the conversation regarding the Future of Business to intensify over the coming months. Evidence is mounting that business as usual is a thing of the past. In a recent post by SAP, they present ninety nine ways that digital will change business. As you look at the information presented, and see the number… […]
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Frank, I’m curious to know a couple of things. First, which types of jobs will be left and who will succeed at them. Second, will there be service nations and consuming nations and producing nations? I’m concerned about the dangers of consuming more than we produce from an economic standpoint. If we consume more than we produce in North America, would it not signal a potential downfall? Conversely if we keep the jobs that are left, which I assume will be in tech, will that buffer our economy.
Inquiring minds want to know… :o)
Heidi
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Heidi – jobs that require those human traits that cannot be automated (creativity, imagination, compassion, reason, etc.) will represent a good portion of future jobs. Higher level skills will be required to facilitate this automated world, but even tech jobs are in danger as we find ways to automate what they do. As far as consumption, there is a growing belief that we are heading towards a world of abundance. I can see why people believe this – but I’m not about that timeline. Our current economic system will indeed be challenged in the next 20 years.
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Reblogged this on valuetrendradar and commented:
Interesting figures and forecast. Big changes expected in our business landscape. Driver: #Big Data, #IoT #Multichannel
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We currently live in an application economy. Everything is driven by a connected, mobile, application-based world where customers are far more likely to experience the brand and interact with the enterprise through a software application than a live person. Would you say this phenomenon is the driver of the looming changes or a by-product of them?
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Software lies at the heart of everything. But the primary drivers are the exponential pace – enabled by technology – and the information enablement of the sciences. This enablement puts the sciences on the same exponential progression that technology has enjoyed for decades. Game changing.
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[…] my recent post on the Future Business Landscape, I shared predictions pulled together by SAP. The sources for this type of information are […]
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