Future of Work and Mega Trends – How do you feel about them ?

Technological breakthroughs

Rapid advances in technological innovation

Automation, robotics and AI are advancing quickly, dramatically changing the nature and number of jobs available. Technology has the power to improve our lives, raising productivity, living standards and average life span, and free people to focus on personal fulfilment. But it also brings the threat of social unrest and political upheaval if economic advantages are not shared equitably.

Demographic shifts

The changing size, distribution and age profile of the world’s population

With a few regional exceptions the world’s population is ageing, putting pressure on business, social institutions and economies. Our longer life span will affect business models, talent ambitions and pension costs. Older workers will need to learn new skills and work for longer. ‘Re-tooling’ will become the norm. The shortage of a human workforce in a number of rapidly-ageing economies will drive the need for automation and productivity enhancements.

Rapid urbanisation

Significant increase in the world’s population moving to live in cities

By 2030, the UN projects that 4.9 billion people will be urban dwellers and, by 2050, the world’s urban population will have increased by some 72%1. Already, many of the largest cities have GDPs larger than mid-size countries. In this new world, cities will become important agents for job creation.

Shifts in global economic power

Power shifting between developed and developing countries

The rapidly developing nations, particularly those with a large working-age population, that embrace a business ethos, attract investment and improve their education system will gain the most. Emerging nations face the biggest challenge as technology increases the gulf with the developed world; unemployment and migration will continue to be rampant without significant, sustained investment. The erosion of the middle class, wealth disparity and job losses due to large-scale automation will increase the risk of social unrest in developed countries.

Resource scarcity and climate change

Depleted fossil fuels, extreme weather, rising sea levels and water shortages

Demand for energy and water is forecast to increase by as much as 50% and 40% respectively by 20302. New types of jobs
in alternative energy, new engineering processes, product design and waste management and re-use will need to be created to deal with these needs. Traditional energy industries, and the millions of people employed by them, will see a rapid restructuring.

Chosen excerpts by Job Market Monitor. Read the whole story at Workforce of the future: The competing forces shaping 2030