Uploaded byNBC Bearings
What does the Future of Work look like
Automation and AI will accelerate a shift in the skills needed for the future of work. Physical and manual skills will decline while technological skills increase the most, growing by over 50% according to forecasts. This will require workers to acquire new social, emotional, and cognitive skills like creativity, complex problem-solving, and leadership. The skills shift will impact different countries in varying degrees depending on their economies and job markets. The future of work is evolving due to global internet access, increasing computing power, and advancing technologies like AI, robotics, and digital platforms that enable remote and independent work.
More Related Content
Similar to What does the Future of Work look like
What does the Future of Work look like
- 1. What does Futureof Work looks like
- 2. 16 April 2020NEI Digital Office Disclaimer The material and Information contained here are for general information purpose only. You should not rely upon the material or information provided herein for any basis for making any business, legal or other decisions. Fair usage: This material might contain some copyrighted material, the use of which has not always been specifically authorised by the copyright owner. We have given the source information, wherever available. While we make every endeavour to keep the information accurate and correct, National Engineering Industries Ltd. makes no representations and warranties of any kind either express or implied about the correctness, accuracy, suitability, reliability or productivity with respect to information or concepts contained in the presentation for any purpose. Any reliance on such material is solely at your risk and consequences.
- 3. “ Workforce ofthe Future ” and “The Future of Work” Source(s) / Picture Credit: • https://www.hcamag.com/nz/news/general/would-employees-prefer-a-human-or-robot-boss/195336
- 4. 27 November 2019NEI Digital Office 4 How did you see your professional life, when you were in school in 8th standard ?
- 5. 27 November 2019 Didyou imagined your State back then ? NEI Digital Office 5Source(s) / Picture Credit: • https://http://getwallpapers.com/collection/new-york-city-desktop-wallpaper
- 6. 27 November 2019 Workplacehigh rise ? ? ? NEI Digital Office 6 Source(s) / Picture Credit: • https://www.stratodesk.com/home/sean-pollock-203658-unsplash/?__cf_chl_captcha_tk__=4dc1f4d255d3f52c3de7599333297465bed921e2-1586209533-0-AcZAfHYKvhth- cOFKfU8bhWGfcGbMh8EtBFVLeOP9zW1a5_zXfovaBqWLEFTf8NofUpNagaZliO2HKT6QFpKczmPdgQnJgDMzcKPaUd9AuGCnTm4zbKgGiJ_4mVJRD3Od1LPygnuMGm3Jbz5HelIMP6as30SL- wrAElvcgrTVnzZrcbvzqpWKnSZ0ttlhfFL6tcW71OhvbE5KaaNclpmKnKmJnQWSvXEGSE5SpaYd02sJbwxsUEjbR1T1ne77RrKyVom9uSXPkDBX0WTLbz4Ql_1FSoseROHrA4Knfn3cBDkpb1tmlojvvp8lICtieRuniC9Tnf6DHk0HQwPJo5u Mc2lZsHIv4e_5OHYHiTLtI7k5KxzGbkOkd8JZIKtE1dE1OV_lbd-YhBV4v0wLkope8gKJ50flW77C_coX8h47d8f1yNPnPiXJwPhkhIujgmyqNTe1HEaPun-dMwVGEDgbPvNNN1EZWaHhmyXxEicPXSJ_7xZX2R3i33ZllVzF6oo6dqLUA5fdv- N-SZu7dy7mZ1WaNmyHrF7niv86XaKBU3x
- 7. 27 November 2019 YourWorkstation / Desk ? NEI Digital Office 7 Source(s) / Picture Credit: • https://mainlyinternational.wordpress.com/2019/03/18/top-5-tips-to-have-a-great-time-at-cambridge/ • https://www.slideshare.net/
- 8. Your way ofCommute to office ? 27 November 2019 NEI Digital Office 8 Source(s) / Picture Credit: • https://www.iab.it/wp-content/uploads/2016/10/rdcom.it_.pdf • www.slideshare.net
- 9. But did youenvision this ? 27 November 2019 NEI Digital Office 9 Source(s) / Picture Credit: • https://www.shutterstock.com/image-photo/young-man-sitting-using-laptop-against-1350073814 • www.slideshare.net
- 10. Or this way? 27 November 2019 NEI Digital Office 10 Source(s) / Picture Credit: • https://www.virtualvocations.com/blog/telecommuting-survival/realistic-tips-working-outdoors-during-summer/ • www.slideshare.net
- 11. 27 November 2019 Workhas always been an evolving term & it took time to get there NEI Digital Office 11 Source(s) / Picture Credit: • https://www.walmart.com/ip/LAMINATED-POSTER-Valley-Of-Fire-Sunset-Desert-Road-Path-Mountains-Poster-Print-11-x-17/358436667 • www.slideshare.net
- 12. NEI Digital Office12 Evolution of Work Before 12,000 BC Hunter groups used to migrate from one place to another Source(s) / Picture Credit: • https://medium.com/@pritesh.suvarna/are-we-the-masters-or-slaves-of-technology-62fc68cda55b • https://prezi.com/rki3d-atvocz/kunstvortrag/ • www.slideshare.net People then started making permanent houses
- 13. NEI Digital Office13 Evolution of Work Chose the occupation of farming Industrial Revolution – From farms to Industries Source(s) / Picture Credit: • https://theimaginativeconservative.org/2018/07/m-e-bradford-agrarian-aquinas-clyde-wilson.html • https://www.slideshare.net/Adib_Hassan_2/industrial-revolution-1760-1990 • www.slideshare.net
- 14. NEI Digital Office14 Evolution of Work In the next Industrial Revolution Small to Big Factories late 1800s – early 1900s 3rd Industrial Revolution made us from Mechanical to Computerised Second half of 1900s Source(s) / Picture Credit: • https://automotivehistory.org/this-day-in-automotive-history/december-1-1913-ford-introduces-moving-assembly-line/ • https://trailhead.salesforce.com/en/content/learn/modules/learn-about-the-fourth-industrial-revolution/meet-the-three-industrial-revolutions • www.slideshare.net
- 15. 27 November 2019NEI Digital Office 15 Hence, Work was always same late 1800s – early 1900s Second half of 1900s Early 1600s – late 1700s Late 1700s – early 1800sBefore 12,000 BC Hunter – gather groups moved constantly Neolithic Revolution Permanent encampments … but explosive series of transformation made us do the same work in different ways Source(s) / Picture Credit: • www.slideshare.net Evolution of Work
- 16. 27 November 2019 Arewe in the 4th Industry revolution ? NEI Digital Office 16 Source(s) / Picture Credit: • https://medium.com/@TechFoodLife/tech-the-fourth-industrial-revolution-the-rise-of-the-autonomous-economy-f42bc7b5667d • www.slideshare.net
- 17. 27 November 2019NEI Digital Office 17 People are working independently 25 37 2015 2021 # people working independently in US (Millions) Source(s) / Picture Credit: • www.slideshare.net
- 18. 27 November 2019NEI Digital Office 18 The term ‘gig economy’ came Source(s) / Picture Credit: • https://dreamlife1230.com/2019/12/13/writer-janru/ • www.slideshare.net
- 19. 27 November 2019NEI Digital Office 19 Source(s) / Picture Credit: • https://dreamlife1230.com/2019/12/13/writer-janru/ • www.slideshare.net The term ‘gig economy’ came
- 20. 27 November 2019NEI Digital Office 20 Company Man ideal for life is gone ! • To whom we work for … • How we generate work … • Our workplace… • Work-timings… … are transformingSource(s) / Picture Credit: • https://br.freepik.com/vetores-gratis/pessoas-que-trabalham-no-design-plano-de-escritorio_5185508.htm • www.slideshare.net
- 21. 27 November 2019NEI Digital Office 21 But any reason for that ?
- 22. 27 November 2019NEI Digital Office 22 Evolving global internet More than 3 billion internet users, 40% + of world population > 2 billion smart phones Rapid growth in internet speeds - 54 mbps – average download speed on broadband in US in June 2016, up 42 % y-o-y - 19 mbps – average download speed on mobile, up 33 % y-o-y GBPS expected top download speed on 5G mobile networks Video calls available to everyone From To 1 Billion Skype downloads as of 2016 Storage way up • 10 Bn petabytes of data in the digital universe • Growing 50% per annum Storage Costs way down • $0.06 per GB of storage, falling 20% per annum Source(s) / Picture Credit: • www.slideshare.net
- 23. 27 November 2019NEI Digital Office 23 How technology can transform the manufacturing workforce ? Source(s) / Picture Credit: • https://www.produktion-dienstleistung-arbeit.de/files/Pdf_Kongress_Vortrag_Russwurm.pdf
- 24. 27 November 2019NEI Digital Office 24 Technology Pool Source(s) / Picture Credit: • https://www.produktion-dienstleistung-arbeit.de/files/Pdf_Kongress_Vortrag_Russwurm.pdf
- 25. 27 November 2019NEI Digital Office 25 Technology Pool AI and RPA are two of the top six factors that will shape CX in the next five years Survey Respondents said that – • 88.3% felt AI and Robotics volumes would increase in the next 2 years • 77.3% said that digital agent assisted services would increase in the next 2 years • 62 % said they would have RPA capabilities within 2 years • 71.6 % feel that upto a quarter of the CX tasks done by agents could be automated by 2020 Source(s) / Picture Credit: • www.slideshare.netSource(s) / Picture Credit: • https://www.mckinsey.com/~/media/McKinsey/Featured%20Insights/Future%20of%20Organizations/Skill%20shift%20Automation%20and%20the%20future%20of%20the%20workforce/MGI-Skill-Shift-Automation-and-future-of-the-workforce-May-2018.ashx Source(s) / Picture Credit: • https://www.produktion-dienstleistung-arbeit.de/files/Pdf_Kongress_Vortrag_Russwurm.pdf
- 26. NEI Digital Office26 Automation & AI will change the skills needed in the workforce Physical & Manual Basic Cognitive Higher Cognitive Social & Emotional Technological Skills Hours spent, In 2016 Billion 203 115 140 119 73 Change in Hours spent, by 2030 % - 14 - 15 8 24 55 Skills with the biggest Shift in Demand General Equipment operation and navigation Inspecting and Monitoring Basic data input and processing Basic literacy, numeracy and communication Creativity Complex information processing and interpretation Entrepreneurship and initiative taking Leadership and managing others Advanced IT skills and programming Basic digital skills *Data for US & EuropeSource(s) / Picture Credit: • https://www.mckinsey.com/~/media/McKinsey/Featured%20Insights/Future%20of%20Organizations/Skill%20shift%20Automation%20and%20the%20future%20of%20the%20workforce/MGI-Skill-Shift-Automation-and- future-of-the-workforce-May-2018.ashx
- 27. 27 November 2019NEI Digital Office 27 Global 25 Skill Sets Category % Hours Worked in 2016 Skills Sample Job Profiles / Occupations Physical and Manual • General Equipment Operation Equipment Setting & Navigation • Equipment Driver Assembly line operator • Equipment Maintenance Mechanical Skills • Equipment maintenance operator Car and Truck Mechanics • Craft and technician skills • Stonemasons, roofers, electricians • Fine motor skills • Nurses, food preparation workers • Gross motor skills and strengths • Machine Feeders, Cleaners, Packers • Inspecting and monitoring skills • Security Guards, Quality Control Basic Cognitive Skills • Basic literacy, numeracy and communication • Customer Service, Cashiers • Basic Data Input and Processing • Typists, Data Entry, Accounting Clerks Higher Cognitive Skills • Advanced Literacy and Writing • Editors, Paralegals, Writers • Quantitative and Statistical Skills • Financial Analysts, Accountants • Critical thinking and decision making • Doctors, insurance underwriters • Project Management • Purchasing agents, front line supervisors • Complex information processing and interpretation • Market research analysts, lawyers • Creativity • PR Specialists, Music composers Social and Emotional Skills • Advanced Communications and Negotiation Skills • Sales Representatives, Real State Agents • Interpersonal Skills and Empathy • Counsellors, Social Workers, Therapists • Leadership and Managing Others • Managers, Executives • Entrepreneurship and initiative - thinking • Business Development, Strategists • Adaptability and Continuous learning • Emergency Responders, Programmers • Teaching and Training Others • Teachers, Instructors, Trainers Technological Skills • Basic Digital Skills • Administrative Assistants, Desktop Publishers • Advanced IT skills and programming • Software Development, Network Administrators • Advanced Data Analytics and Mathematical Skills • Statisticians, Operations research analysts • Technology design, engineering and maintenance • Engineers, robotics experts, product designers • Scientific Research and Development • Scientists HighLow Source(s) / Picture Credit: • https://www.mckinsey.com/~/media/McKinsey/Featured%20Insights/Future%20of%20Organizations/Skill%20shift%20Automation%20and%20the%20future%20of%20the%20workforce/MGI-Skill-Shift-Automation-and- future-of-the-workforce-May-2018.ashx
- 28. NEI Digital Office28 Automation & AI will accelerate Skill Shift 33 31 26 20 18 15 21 22 22 17 18 21 9 11 16 Evolution in Skill Categories (% of time) Physical & Manual Basic Cognitive Skills Higher Cognitive Skills Social and Emotional Skills Technological Skills Change in hours worked (% difference) 9 9 13 26 27 60 2002 2016 2030 2002 - 16 2016 - 30 3 11 1 14 Source(s) / Picture Credit: • https://www.mckinsey.com/~/media/McKinsey/Featured%20Insights/Future%20of%20Organizations/Skill%20shift%20Automation%20and%20the%20future%20of%20the%20workforce/MGI-Skill-Shift-Automation-and- future-of-the-workforce-May-2018.ashx
- 29. 27 November 2019NEI Digital Office 29 Automation & AI will accelerate Skill Shift Skills Hrs. worked in 2016 (Billion) Change in hours worked By 2030 Hrs. worked in 2016 (Billion) Change in hours worked By 2030 Physical & Manual Basic Cognitive Higher Cognitive Social & Emotional Technological 90 53 62 52 31 -11 -14 9 26 60 113 62 78 67 42 -16 -17 7 22 52 United States Europe Total 287 363 Source(s) / Picture Credit: • https://www.mckinsey.com/~/media/McKinsey/Featured%20Insights/Future%20of%20Organizations/Skill%20shift%20Automation%20and%20the%20future%20of%20the%20workforce/MGI-Skill-Shift-Automation-and-future-of-the-workforce-May-2018.ashx
- 30. 27 November 2019NEI Digital Office 30 Skill Shift across Geographies 38 38 31 30 28 25 17 17 18 17 17 17 19 19 22 23 22 22 17 15 18 16 21 23 9 10 11 14 11 12 Spain Italy United States Germany France United Kingdom Number of hours worked in 2016 (% of time) Physical & Manual Basic Cognitive Skills Higher Cognitive Skills Social and Emotional Skills Technological Skills Skill shifts will play out differently across countries, depending on economic structure, sector mix, and level of digitization 66 20 4 18 20 61 27 9 15 15 60 26 9 14 11 41 23 5 22 22 53 20 6 18 15 12 13 9 13 12 Change in hours worked 2016 – 30 (%) Increase , DecreaseSource(s) / Picture Credit: • https://www.mckinsey.com/~/media/McKinsey/Featured%20Insights/Future%20of%20Organizations/Skill%20shift%20Automation%20and%20the%20future%20of%20the%20workforce/MGI-Skill-Shift-Automation-and-future-of-the-workforce-May-2018.ashx
- 31. Basic Cognitive Physical &Manual 27 November 2019 NEI Digital Office 31 Skills of Today v/s Tomorrow Important, but declining Important and growing Limited, but growingLimited and declining Skills needed less of in the future Skills needed more of in the future Expected future skill need Perceived importance of skill today High Average Low 0 Higher Cognitive Social & Emotional Technological Basic data input MaintenanceOperations Basic Literacy Interpersonal Empathy Basic Digital Communication & Negotiation Leadership Advance ITCreativity Project Management Critical Thinking Technology Design Advance Data Analysis Teaching and Training Complex information processing Scientific Research and Development Advanced Literacy Entrepreneurship Adaptability Gross Motor Craft & Technician Source(s) / Picture Credit: • https://www.mckinsey.com/~/media/McKinsey/Featured%20Insights/Future%20of%20Organizations/Skill%20shift%20Automation%20and%20the%20future%20of%20the%20workforce/MGI-Skill-Shift-Automation-and-future-of-the-workforce-May-2018.ashx
- 32. 27 November 2019NEI Digital Office 33 Industry Skills shift – by 2030 48 35 12 10 17 21 12 16 12 19 2016 2030 % of time Technological Skills Social and Emotional Skills Higher Cognitive Skills Basic Cognitive Skills Physical & Manual Change in hours Million FTEs - 5.6 - 0.9 + 0.8 + 1.4 + 2.3 General Equipment Operation; Equipment Setting & Navigation Equipment Maintenance ; Mechanical Skills Craft and technician skills Fine motor skills Gross motor skills and strengths Inspecting and monitoring skills Basic literacy, numeracy and communication Basic Data Input and Processing Advanced Literacy and Writing Quantitative and Statistical Skills Critical thinking and decision making Project Management Complex information processing and interpretation Creativity Advanced Communications and Negotiation Skills Interpersonal Skills and Empathy Leadership and Managing Others Entrepreneurship and initiative - thinking Adaptability and Continuous learning Teaching and Training Others Basic Digital Skills Advanced IT skills and programming Advanced Data Analytics and Mathematical Skills Technology design, engineering and maintenance Scientific Research and Development PositiveNegative Evolution in Skill Categories Evolution in 25 skills Source(s) / Picture Credit: • https://www.mckinsey.com/~/media/McKinsey/Featured%20Insights/Future%20of%20Organizations/Skill%20shift%20Automation%20and%20the%20future%20of%20the%20workforce/MGI-Skill-Shift-Automation-and-future-of-the-workforce-May-2018.ashx
- 33. 27 November 2019NEI Digital Office 34 Industry Job Shift – by 2030 Predictable Manual Professionals Office Support Unpredictable Manual Managers & Executives Others 16.8 5.6 3.7 2.9 2.3 5.0 Occupation Categories Employment baseline 2016, Million FTEs Shift in share of total employment, % 46 32 15 20 10 11 8 8 6 8 14 20 2016 2030 - 14 % 5 % 1 % 0 % 2 % 6 % TopGrowingTopDeclining • Software Developers (app, web, computer) • Customer Service representatives • Engineers by training • General and Operations managers • Business Operations Specialists • Accountants and Auditors • Sales Managers • First line supervisors of office support workers • Computer System Analysts • Computer and Information systems managers • Machinists • Assemblers • Packers and packagers • Machine Operators • Metal, plastic, drilling, boring, machine tool setters • Coating, painting and spraying machine setters • Packaging and filling machine operators and tenders • Office Clerks (billing, accounting, reception etc.) • Machine line loaders, off loaders Source(s) / Picture Credit: • https://www.mckinsey.com/~/media/McKinsey/Featured%20Insights/Future%20of%20Organizations/Skill%20shift%20Automation%20and%20the%20future%20of%20the%20workforce/MGI-Skill-Shift-Automation-and-future-of-the-workforce-May-2018.ashx
- 34. 27 November 2019NEI Digital Office 35 How Workforce Skills will Shift Structural Design changes to cope with the realities of shifting skill needs Five options for companies to build their Workforce of Future Retrain Raise skill levels of employees by teaching them new or more advanced skills Redeploy Shift parts of the workforce by redefining work tasks or redesigning processes Hire Acquire individuals or teams with the requisite skills, increasing the workforce Contract Leverage external workers, such as contractors, freelancers or temporary workers Release Remove skills not needed by freezing new hiring, waiting for normal attrition and retirement or in some cases, laying off workers Mind-set Shift Instilling a culture of life long learning and providing training opportunities for employees Organizational Set up More agile corporate structures featuring less hierarchy and more collaborative team networks “New Collar” Jobs Activities will be relocated between workers with different skill levels, creating a new set of middle-skill positions Workforce Composition The booming gig economy will lead to a rise in the use of independent contractors and freelancers C-Suite and HR Changes Senior leadership and key functions also need to adapt with proper talent strategies to orchestrate the changes Source(s) / Picture Credit: • https://www.mckinsey.com/~/media/McKinsey/Featured%20Insights/Future%20of%20Organizations/Skill%20shift%20Automation%20and%20the%20future%20of%20the%20workforce/MGI-Skill-Shift-Automation-and-future-of-the-workforce-May-2018.ashx
- 35. • 60% toolsconsumed on T9 • Tool request triggered - ETA: 3 days • Robotic arm for tool installation scheduled • 17 set-up changes scheduled today (on track) • 762 people views on you portfolio in past 3 months • 517 enquires received • 400 are realizable • 1873 bearings inspected • 67 found Not OK • Rejection request triggered • Unidentified personnel movement observed in FG > notification sent to Security > Face impression doesn’t match the database. • Click here for viewing the footage NEI Digital Office 36 Shift from emails to mobile notifications Source(s) / Picture Credit: • https://www.mckinsey.com/~/media/McKinsey/Featured%20Insights/Future%20of%20Organizations/Skill%20shift%20Automation%20and%20the%20future%20of%20the%20workforce/MGI-Skill-Shift-Automation-and-future-of-the-workforce-May-2018.ashx
- 36. Key Contact detailsfor any queries: Ashutosh Basotia NEI Digital Office (E) ashutosh.basotia@nbcbearings.in (P) +91 141 2223221