PMI UAE KHALEEJI CHAPTER

ANNUAL GATHERING 2018

FUTURE OF WORK

Peter F Drucker – 1990s (Managing for Future)

¨ Six Key trends¤ Scale of complexity in the environment¤ Resource Scarcity¤ Technology Breakthroughs¤ Consumer rights and need for transparency¤ Population movement and rapid urbanization¤ Demographic shift

5 Major IOT elements that will change our lives

¨ Hyper Connectivity

¨ Super Computing

¨ Cloud

¨ Smarter World

¨ Cyber Security

IOT Elements

� Hyper Connectivity

¡ Internet access anytime, anywhere

¡ Most of us have 2-3 devices today

¡ Up to 5 different devices in future

¡ And they will all be interconnected

� Super Computing

¡ How AI is coming into daily lives

¡ Unlimited computing power

¡ Cost of memory going down; computing power going up

IOT Elements

� Cloud

¡ Offers instant access to your data wherever you are

¡ Don’t have to lose anything

¡ Cloud will become commodity

� Smarter World

¡ Sensors all around¡ Gathers data¡ Data analytics + AI leads

to more and more automation

IOT Elements

� Cyber Security

¡ Immense Cyber risks ¡ Businesses which can

manage the risk will gain advantage

� ??????? 3D printing ?

HOW DOES THIS AFFECT

THE FUTURE OF WORK

In a widely noted study published in 2013, Carl Benedikt Frey and Michael Osborne examined the probability of computerization for 702 occupations and found that 47% of workers in America had jobs at high risk of potential automation.

Subsequent studies put the equivalent figure at 35% of the workforce for Britain (where more people work in creative fields less susceptible to automation) and 49% for Japan.

Future of Work – Studies / Findings

Key Findings on Impact of Future of Work¨ PwC published a report in 2014, The Future of

Work – A Journey to 2022 in which more than 10,000 people from China, India, Germany, the UK, and the US gave their views on the future of work¤ 66% see the future of work as a world full of

possibility in which they will be successful.¤ 53% think technological breakthroughs will transform

the way they work.¤ Two out of five people believe that traditional

employment won’t be around, instead people will have their own ‘brands’ and sell their skills to those who need them.

Key Findings on Impact of Future of Work

¤More and more people are worried about automation putting their jobs at risk.

¤Almost half of the people think ‘few people will have stable, long-term employment in future’.

¤ In the next 5 years, there is a need for workers to change their skills at an accelerating pace.

Key Findings on Impact of Future of Work

¨ Adapting to a New World of Work, reflecting on KPMG’s Future of Work Business Leaders’ Survey, shared key changes predicted by graduates (Gen X and Y)

¤ 75% believe the nine to five office culture will end.¤ 76% expect greater flexibility to prescribe their own

working hours and schedules.¤ 68% think that virtual networks will result in greater

employee engagement and higher productivity.

Key Findings on Impact of Future of Work

¨ The Work Foundation published a report in January 2016

¤ Predicted that by 2020, 70% of the workforce will adopt mobile working.

Key Findings on Impact of Future of Work¨ The Financial Times published an article, ‘The Human Cloud: A New

World of Work’ (October 2015), ¨ employers are beginning to chop white collar jobs into hundreds

of discrete projects or tasks, then scatter them into a virtual ‘cloud’ of willing workers who could be from any part of the world, bidding and winning the job based on a price as long as they have an internet connection.

¨ The complexity and type of tasks can range from typing data into a spreadsheet, to desk research on a specific topic, or writing a piece of code.

¨ The future of work patterns spans a wide spectrum. At the extreme more work is carried out by robots, services are provided by driverless cars, and the world of smart drugs enhances intelligence, memory, and work. Most firms, while not yet facing such radical adjustment, will need to make some sort of systemic preparation to be future-ready.

A LOT OF THIS IS GOOD NEWS FOR

PROJECT MANAGERS

Jobs at Risk ?

What jobs are at Risk ?

New trends in recruitment

So What’s likely to happen

¨ Truth is some where in between¨ AI will not cause mass unemployment but it will

shake up the current way of doing things, disrupting labor markets

¨ Will be a difficult transition and we need to learn new skills

So what should we do to become a ‘future-ready’ professional community?

¨ Upskill ourselves ¨ Try to be the Link between AI and Strategy

¤ Example of AI based marketing system

¨ Join forces with other disciplines¨ Build strategic alliances with professional

communities – stay on the sharp edge of innovation

THANK YOU

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