If you haven’t seen part one of this series I would encourage you to click here and then come back. This post is about how technology and a shift in purpose will determine the speed of change in the coming decade.
As mentioned in yesterday’s post four areas will determine what the world will look like in 2030.
- Societal Factors
- A Shift of What Is Important
We covered the first two yesterday so this post is about the last two.
Unless things change in the very near future Artificial Intelligence will the at the forefront this decade. And that means more jobs being automated. Technology which is the primary engine of current change will simply not stand still. When I started my engineering career in 1970 the integrated circuit was just introduced. All of our current technologies are at least a thousand times more powerful since those days. The coming decade will likely see technological power increase more in one decade than in my entire professional life.
Here are some sources for predictions in the coming decade that are worth looking at:.
Shift in Purpose
It is very likely that Stakeholder Capitalism will be a major shift in the economy by this decade’s end. That means that everyone involved in a company’s success will share in the profits generated. Companies will no longer be owned totally by the rich who buy their stock. Instead, most small to medium corporations will likely shift to significant employee ownership as part of Stakeholder Capitalism.
There is already a significant movement towards a stakeholder focus due to the fact that Millennials and Generation Z are making it abundantly clear that they do not want to work for, invest in, or buy from companies that lack values beyond maximizing shareholder value.
To summarize all this shift in purpose, corporations will once again become responsible citizens who look out for their workers welfare. Corporate profits will be measured by this new metric. When the major part of the workforce are those born since 1980 demand change, it will happen. Greta Thunberg is only the tip of the iceberg in this paradigm shifting phenomenon. We will see many more Greta’s in the coming years.
I realize that these two posts predict a paradigm shift in the world’s economies and workplaces. Much of this success will depend on a stable society and government. If our society continues to be horribly split or government moves to a dominant autocratic platform then things could be quite different from these predictions. If that happens think more like Mad Max…