INSIGHTS

The latest insights from Weatherbys Bank




Make work more like learning and learning more like work


“It’s hard to overestimate the impact AI will have on society in the next 20 years” – Jeff Bezos, Amazon
 

In 2015 90% of all UK new jobs came from the companies created within the last 5 years. The demand for work is changing significantly; the non-routine cognitive skills are in greater demand than ever before.
 

What do we mean by this? The IT revolution has exposed routine cognitive jobs which can be completed through automation and as such no longer offer employment opportunities. Non-routine cognitive jobs are steadily becoming more important; those which require problem-solving, human interactions and creativity such as child care or architecture.
 

Schools are preparing children for a future which doesn’t exist anymore and will be unrecognisable in ten years’ time. The best way to prepare for a future world ruled by automation and artificial intelligence is to teach children problem solving and give them a core grounding in maths and science; analytical skills which teach them adaptability.
 

Good examples are the Apple genius bar or mobile phone “gurus”. The need for these services have arisen from advances in technology. Most millennials and generation z do not have a need for the Genius bar, whereas the older population who were not born with the technology tend to frequent the Genius bar for help with their products.  As millennials and generation z become the older generation there will be a lower requirement for the Genius bar services as this age group will have developed and matured with the technology. Flexibility and adaptability - we must learn these skills to survive and anticipate the needs of the population.

People want to join a company to develop both personally and professionally. Millennials and generation z are only going to work for companies that share their social and moral values. The companies that do, will survive and thrive in the future whereas the companies that don’t will be the first targets for the robots.

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