The word 'digital' is a synonym for the pace of change occuring in today's world, driven by the rapid adoption of technology. The world we live in keeps changing and it affects everyone, whether we like or not. It is evolving faster than ever before, disrupting the traditional way of thinking and doing things both personally and businesswise, and to this day many people are still oblivious of this lucid fact.
Innately, humans are uncomfortable with the notion of change. We find comfort in stability and predictability. Well unfortunately the digital economy is none of these - it's fast and always evolving that it can be difficult to keep up while avoiding total disruption of our operations. Digital transformation is here and inevitable, and "going digital" should be viewed as a series of incremental steps, making some changes to our normal way of thinking and doing things.
Colombia University Professor, David Rogers expresses it particularly elegantly; "Digital transformation is not about the application of new technology, it's really about strategy, leadership and new ways of thinking."
Taking those first steps towards a digital transformation is akin to children learning to swim. At first, they may dip one of their toes in the water to test the temperature. Some run away from the pool, making the excuse that the water is too cold. Others decide to indulge their curiosity and trust a parent or instructor to help them into the pool. Over time, the swimming student becomes more confident and quickly discovers the majesty that lies in deep waters -- even as big as the ocean.
The same is true of digital transformation. The more profound the change, the greater the insights and opportunities. In the follow video, Stuart Ross my business mentor explores more in depth on how you can secure your future in an ever evolving digital world. Creating a lot more freedom for yourself in every area of life, than what the 9-5 rat rase offers.
On that video Stu also talks about Traditional economy being on a steep decline, with but a grim future -- Artificial Intelligence and Technology replacing jobs, and to worsen in the next coming years. Future job prospects in most fields are bleak due to one thing: automation.
Automation, which includes both mechanized robots (whether humanoid or drone-shaped) and artificially intelligent software programs, are predicted to eliminate 6% of the jobs in the U.S. in the next five years. And it’s not just low-wage employees that need to be worried. Highly skilled, knowledge-based employees in some sectors, including legal and accounting, could see their jobs decimated in the next decade. Deloitte estimates that 39% of jobs in the legal sector could be automated in the next 10 years. Separate research has concluded that accountants have a 95% chance of losing their jobs to automation in the future.
But it’s not just professionals in the legal and accounting sectors that will see jobs disappear due to automation. Knowledge workers, retail, and manual laborers will also see their job prospects decline. Here are few of noteworthy jobs that could be hit the worst.
- Insurance Underwriters And Claims Representatives - The effects of automation on the insurance industry are already being felt. In Japan, Fukoku Mutual Life Insurance has recently replaced 30 of its medical insurance claims reps with an IA system based on IBM's Watson Explolre, reports the Guardian.
- Bank Tellers -- First it was the ATM that ate into human banking jobs, then the smartphone app. It's likely that many of the human based teller and representatives banking jobs will be finished off by AI, reports CNBC.
- Construction Workers -- Manual labor jobs are also under threat by automation. Robotic bricklayers will soon be introduced to construction sites that enable the machines to replace two to three workers each, reports Technology Review.
- Farmers -- Farmers are being replaced by artificially intelligent robots that can do everything from milkcows to pull lettuce. And more than 1 million of the US's farmlands could see their jobs replaced by intelligent machines that do everything from weed cabbage patches to pick apples, reports Quartz.
- Taxi Drivers -- In the next 10 years, cities across the world will have fleets of self-driving taxis. Uber is testing such vehicles and Singapore is the first country to already put up to a dozen on the roads.
- Manufacturing Workers -- China, the country where the majority of the world's manufacturing jobs exist, will see its human manufacturing workforce depleted by robots in the near future. As a matter of fact, it's already happening. Foxconn, the manufacturer who makes everything from iPhones to Xboxes, recently replaced 60,000 workers with robots.
- Journalists -- In 2014, the Associated Press began to use intelligent software to write quartely earning reports. Up to 3, 000 reports are being written by AI every quarter, the Verge reported. It's entirely feasible that content sites of the future could exist without any human writers at all.
By 2021, a disruptive tidal wave will begin", said Brian Hopkins, VP at Forrester in the report. But again as Stu mentioned in above video, this disruption on the other hand is also filled with plenty of opportunities now than there has ever been throughout history. New job opportunities, a massive increase in entrepreneurship, economic growth, and an overall improvement in how we get to live our lives.
Decide right now to become more than a bystander, and take action. Change is happening, respond to it by getting started on the road to digital transformation one toe dip at a time, exploiting the opportunities that come with it.
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