A recent Article states that automation will result in the biggest reduction in headcount across the U.S. banking industry in its history, with an estimated 200,000 job cuts over the next decade – this according to Wells Fargo & Co.
In a recent Article posted on the Singularity Hub, the author describes the first report of the MIT Task Force on the Work of the Future. This group of MIT academics was set up by MIT President Rafael Reif in early 2018 to investigate how emerging technologies will impact employment and devise strategies to steer developments in a positive direction. The primary finding from this report is that it’s the quality of the jobs we should worry about – not the quantity.
As mentioned in my previous post, I had the pleasure of hosting two sessions recently at the TCS Innovation Forums in London and New York City. The sessions, which explored the need to prepare for the future, involved thought leaders, futurists, and various leaders across multiple domains. They were structured with several five-minute descriptions of forward-looking themes, and once context was set, a discussion with the broader leadership group was moderated. The sessions focused on education and awareness, rooted in a strong belief that leaders must prepare for and shape our emerging future.
This post will summarize the New York Session, which differed slightly from the one in London. While the London session painted a wide array of evocative future scenarios, the New York session explored several of the key technologies and enablers that will fundamentally shape and impact emerging scenarios. It wasn’t however a technology discussion. This engaging group of thought leaders provided eye-opening facts and focused on implications, both positive and negative. As in London, I opened the session with three key themes from my Expectation post: Acceleration, Possibilities, and Convergence; Here is a look at the insights that followed.
In a recent post, I asked my readers to help me identify those catalysts that force the actions required to steer our future towards advancing our human development. Feel free to respond to the Poll. The number one response was the rapid pace of innovation. That response supports my own opinion that the pace will ultimately force stakeholders across multiple domains to take action. Much like the Domain Convergence that occurred during our most Transformative Period in History, convergence is required if we are to take the correct path towards human flourishing.
Fast Future Research provides a glimpse into possible futures through a series of recently published books that focus on our Our Emerging Future and accelerate our learning and dialog. As with his previous books, Rohit Talwar enlists several authors in a new book just launched titled A Very Human future. An abstract for the book reads as follows:
As society enters the fourth industrial revolution, a major question arises—can we harness intense technological bursts of possibility to bring about a better world? A Very Human Future illustrates how the evolution of society, cities, people, businesses, industries, nations, and governments are being unexpectedly entangled by exponential technological disruption. This is not a book about technology but an exploration of how we make it serve humanity’s highest needs and ambitions.
A popular question these days is: Will a robot take my job? That question is as popular as: what should my child study in school? At the heart of both questions is the fear that we as a society will automate anything that can be automated. This website may help bring some clarity – at least in the context of automation risk level. It’s very quick, simply enter your job and an automation risk level expressed as a percentage will be returned.
Ultimately, these questions are difficult to answer, as we cannot predict the jobs of the future – and required skill levels could be a moving target. The progression of automation can be viewed on a spectrum from augmenting humans to fully conscious machines. There are arguments being made on both ends of this spectrum – time will tell.
In a recent book titled The Future of Work, author Darrell M. West describes the Work 2.0 scenario on this emerging future visual. In exploring possible implications of a shifting work paradigm, he gets prescriptive about possible responses. This implication-response exercise sits at the heart of Future Thinking.
No one can predict this complex and uncertain future – but exercises like this help us see possible futures. In seeing them, we position ourselves to proactively shape them. In the context of work, Mr. West explores several possible responses, including another future scenario which he calls Republic 2.0. How this scenario plays out has a direct impact on the path of other scenarios. The scenario speaks to a new kind of politics. Mr. West states: