Technology advancements over the next 30 years will give rise to deep workforce implications as they automate repetitive tasks and displace large parts of the workforce (both skilled and unskilled).
As these technologies compound, we will not only research the social implications of each technology but also the compounding effect on the workforce and the potential need for a universal wage to be made available for willing workers whose skills have been replaced or jobs displaced.
It’s called the Fourth Industrial Revolution because significant disruption is wider in scope and coming faster than any previous wave of automation and technology.
It will be critical for governments and industry to understand the ramifications of such a move.
This may come in the form for savings measures (fewer cars on the road = reduced spend on infrastructure; fewer road fatalities = reduced cost on healthcare systems) as well as spend measures (universal wage; skills programs). Beyond the financial impact and loss of income, we’ll also look at the loss of social purpose. Can other technological advancements such as Virtual or Augmented Reality be used to keep people positively engaged in society if they’ve lost their ability to contribute through work?
- Research completed
- Project duration: Completed
- Completed: October 2017
In early 2017 we partnered with Sydney based R&D firm Faethm. Our combined research agenda focused on how we build a predictive AI tool to enable business and government leaders to get granular data on the impact of emerging technologies on their workforce. Ultimately enabling them to make decisions and guide corporate strategy as well as government policy in response to the 4th Industrial Revolution. The resulting research was productised and launched as part of the Spark Festival in Oct. 2017. The product is Tandem and it is already being used by business and government to drive economic and social value. Please contact us for details.
Think about it
In previous Industrial Revolutions, human ingenuity created new jobs, industries, and ways to make a living. Will the promise of the 4th Industrial Revolution provide similar?
- Will the 4th IR provide the human race with the time & capability to solve the world's biggest problems? Peace, Hunger, Climate Change...
- Nearly 60% of Australian students are currently studying or training for occupations where at least two thirds of jobs will be automated.
- As paid work becomes more and more difficult to come by, will society start regarding the stay-at-home parent and the daycare worker equally, and somehow enable people to perform valuable forms of unpaid work?