In my lifetime, technology has made leaps and bounds. I have seen VHS come and go, computers that were as big as my desk morph into smartphone technology that I can hold in the palm of my hand, and video game technology evolve from Space Invaders and Pong to graphics that look so realistic, I can’t tell them apart from actual human beings.
Well, now I feel old. But besides an exercise in dating myself, the technology evolution has been exciting and I use much of the technology out there on a daily basis. It does make me pause and think about the impact on all of us in the work world and how organizations utilize their most important resource: People.
Historically the industrial revolutions can be defined into the following stages 2,3:
- First : Steam power was produced to mechanize production
- Second: Electric power to create mass production
- Third : Electronics and technology to automate production
- Fourth : This current period is fusion of physical, digital and biological advancements
The Fourth industrial revolution is fueled by digital technology and the reach is exponential due to computers acting as a platform to make knowledge sharing and knowledge creation much quicker and easier. Self-driving cars, 3D printing and nanotechnology are a few examples of what the fourth industrial revolution has brought us. It is also being called the New Machine Age where not only can technology learn but also listen and comprehend. For example, it will not be long before Watson will be connected to Siri to replace customer service agents.
All this innovation has increased the quality of life for many people. Not only does technology keep us stay connected and make communication easier, medical technology has made huge advancements and wearable technology allows us to monitor our own vitals and detect ailments.
So how does this all impact the work world?
A digital economy gives rise to a job market that’s segregated into a highly paid, highly skilled pool and a low paid, low skilled pool whose wages decrease as automation and the use of technology increases. Productivity can increase with fewer people needed to accomplish the work. The pervasiveness of digital technologies and the dynamics of information sharing typified by social media, means disruption is easier and faster due to the agile newcomers entering into established markets throwing off incumbents by improving quality, speed, and/or price at which value and product is delivered.
So is this about humans versus machines?
Not quite. Technology has made us able to do more while understanding less about what we are doing, and has increased our dependence on others and the technology we use. There is vast technical knowledge out there and when we need to, we can access it and learn many things. But we need people for their creativity and adaptability and we need people to impart their values and build culture to differentiate organizations. People play a vital role in every organization and that level of involvement is a function of the talent organizations hire and develop.
The skills needed to adapt and make it in the business world are going to change a bit in priority over the next few years as demonstrated by the WEF projections:
The key is to keep working with technology and figuring out ways to adapt to the changing work environment, because no matter how smart Watson or other computers become, creativity will always be a human domain that keeps putting people first.
About the Author:
Marnie Larson is the CEO of StarGarden Corporation and oversees its operations in Canada, US and New Zealand. She has over 20 years’ experience in the software industry and specializes in HCM, Business process automation and Workflow technology.
References:
- https://hbr.org/2015/06/the-great-decoupling
- http://secondmachineage.com/press-media/
- https://www.weforum.org/agenda/2016/01/the-fourth-industrial-revolution-what-it-means-and-how-to-respond/
- https://www.weforum.org/agenda/2016/01/the-10-skills-you-need-to-thrive-in-the-fourth-industrial-revolution/
- https://www.weforum.org/agenda/2016/06/is-technology-making-us-more-or-less-intelligent?
- Image Credit: http://ocrex.com/blog/?p=139/man-vs-machine/