Key Trends impacting Future of work

1. Future of Work
Ruchi Bhatia

2. 5 Mega Global Trends affecting Future of work are
• 1. Technological Advances
• 2. Globalization
• 3. Network Economy
• 4. Knowledge Society
• 5. Demographics

3. FIVE KEY THEMES THAT WILL
RESHAPE THE FUTURE OF WORK
• Motivations for work are changing. ...
• Beliefs about what makes a "good job" are diverging. ...
• Automation is helping to rehumanize work. ...
• Technological change is blurring the boundaries of the firm. ...
• Younger generations are increasingly overwhelmed.

4. Work, Worker, Workplaces are evolving

10. Gig Economy is on the rise amidst layoffs

11. New Age Companies
Facebook, Google, Uber, Airbnb, Twitter are new age companies which
didn’t exist few years ago however now influence the way we search, look
for information, travel, communication, network and connect.
Millennials are the first Digital natives , their affinity for technology shapes
how they shop, lead their lives and behave at workplace. They are used to
instant access to information for price comparisons, product reviews, and
peer reviews. Some of these behaviours they carry to workplace. Therefore
we see rise of Apps and Technologies at workplace. There are apps for
Employee Wellness, Employee Engagement, Learning, Receiving and Giving
Feedback , Recognition .

12. Millennials & Gen Z take over workplace
• IBM Verse is truly a futuristic application which changes how we
collaborate at workplace. No wonder it was developed by a
Millennial. Are you providing the Millennials the resources and tools
to develop innovative product and services ? Investing in this critical
talent pool is pertinent since they understand the consumer's
mindset, behaviours and patterns ( consumers who are millennial
themselves)

13. Millennials occupy Leadership Roles
• Millenials have also started occupying Leadership positions at
workplaces. So we see, a new breed of startups , and fresh thinking
coming up at big corporates. They bring new perspectives of how
work gets done . They have underlying desire to shape workplace
policies, to make a contribution, to play a role which contributes to
society. Their communication style is open and transparent. They are
open to be mentored , place emphasis on networking to succeed at
work and at life. They demand flexibility and use mobile phone and
apps for routine and specific tasks. In fact , they are the ones who are
building these new apps for making lives easier.

14. ChatGPT & GAI will empower the Worker
Productivity Gains
Artificial Intelligence will create more jobs than it eliminates: Gartner
The firm says 1.8 million jobs will be eliminated by 2025, but 2.3 million
new jobs will be created by then.
In 2023, AI augmentation will generate $2.9 trillion in business value
and recover 6.2 billion hours of worker productivity.
A Deloitte study of automation in the U.K. found that 800,000 low-
skilled jobs were eliminated as the result of AI and other automation
technologies. But get this: 3.5 million new jobs were created as well,
and those jobs paid on average nearly $13,000 more per year than the
ones that were lost.

15. Empathy is at the center of Leadership
• Leadership job will never be automated by Technology. Be a Leader,
wherever you are , in your field and you will never be at risk of
automation.
• Be a Hi Touch Leader

16. Key Take Aways to prepare for Future of Work
• 1. Be a LifeLong Learner
• 2. Invest in learning new skills
• 3. Reinvent yourself continuously
• 4. Robots will work with humans , robots doing the repetitive tasks and humans will take
up creative jobs which require high empathy
• 5. Do not fear robots taking away jobs, AI age will create new jobs that don’t even exist
yet
• 6. Be a champion for Gender Equality . Help develop Women Leaders. Working Women
are good for business and for Economy
• 7. Foster a growth mindset
• 8. Gig Economy will be on the rise
• 9. Be Curious
• 10. Be Empathetic. Empathy is what we need more of in Robotic world .