New technologies will change the global labor market by 2022

Dmitry Plotnikov, Partner at Strategy Partners

Human. Only he has a personal principle, the ability to comprehend the world through sensations and emotions – to perceive the smell of flowers, the taste of food, and remain competitive. Artificial intelligence is not yet capable of emotions and irrational thinking, and this is exactly what is called a “creative streak” so necessary in management. Of course, there are programs that generate ideas. Sometimes even very successful ones. But their capabilities are still incomparable with a simple human flight of fantasy.

As follows from the WEF The Future of Jobs 2018 report, thanks to the introduction of new technologies, the world labor market will change significantly by 2022: 75 million jobs will disappear, many specialties will become a thing of the past. At the same time, it is assumed that the arrival of new technologies will create 133 million new jobs. And absolutely new specialties and professions. At the same time, robots will begin to take up more and more workspace. If in 2018 they closed on themselves 29% of all working hours, then in 2025 this figure will grow to 52%.

And what will become, for example, in the CEO? This means that you have to have competencies that are adequate to the changed market. Without the proper quality of management, no business can withstand the new demands of the time. Consequently, the CEO must learn new skills in several areas at once.

Management

The fact that digital technologies are constantly developing and being introduced in the market does not mean that you can completely rely on them. Thanks to automation and robotization, labor productivity by 2022 will grow by an average of 30% compared to 2015. This is tremendous progress. And in order to achieve it in their enterprise, a competent CEO must manage digital transformation: not only use machine data, but also develop and implement a strategy. Be competent in data and data analysis, understand digital procurement technologies and continue to engage in strategic planning like in the pre-digital era.

And, of course, learn the flexibility of management. In addition, as it turned out, only less than a quarter of workplaces can be automated by 70% or more. Therefore, a “complement strategy” will be spread, which assumes that part of the operations performed by people is shifted to mechanisms and algorithms. That is, it is necessary to take into account the balance in the work of robots and people, in accounting for their labor contribution. You need to value both full-time employees and remote workers and see the differences between them. After all, out-training is penetrating deeper and deeper into work processes. It is very important for the CEO of the future to be able to work with remote staff and project teams. And sometimes – to redirect it to an automatic channel.

Interpersonal communication

An executive director is not only a strategist and analyst. He cannot just give directions, sitting in the office and checking the charts and indicators. The modern CEO must be a true interpersonal professional. Understanding and realizing exactly when and with whom to enter into partnership and conclude a deal sometimes becomes the only guarantee of successful development of a company. This skill helps to build relationships with stakeholders and strategically important suppliers. This means that versatility is important for the CEO of the future. More precisely, a sufficient level of knowledge in those areas from which it is planned to request additional investments.

Understanding technological development

The economic landscape until 2022 will be shaped by four core technologies: high-speed mobile internet, big data, artificial intelligence and cloud technologies. That is, a modern CEO cannot be retrograde. He has to do his job in a new procurement environment, even if the company has been operating with classic sales tools for many years. Obliged to know how to get the most out of digitized systems and processes, effectively use tools based on AI and other technologies. Navigate the flow of data, constantly improve expertise in digital tools, PR. He also has to learn quickly. Always be “in trend”, learn in time about the emergence of new tools for the development, sale and promotion of your product. That is, to successfully compete with the younger generation, which was formed in the era of continuously developing information technologies.

Ability to value time

Unfortunately or fortunately for the modern CEO, time has become a resource. And the business leader must understand and accept this. Do not take rash steps leading to mistakes, which will take time to correct. And choose a balanced strategy in time. This is especially important for a developing business that wants to join the circle of successfully growing companies.

Now in the field of retail this skill is distinguished by the owners of companies engaged in Internet marketing. Seeing the market initially from a different angle, they successfully bypass all the difficulties faced by small businesses in Russia.  The field of Internet marketing is relatively new and has not yet had time to form the traditions that hinder its development. Employees of such a company always have up-to-date information about the business, they are most actively communicating with partners and clients in messengers, chats, social networks. And the manager is always in touch with his employees, including with the help of high-tech communications.

High-tech industries are growing 1.7 times faster than others. Another example is customer service. By producing it through remote channels, a financial institution, for example, can reduce labor costs by 8-9 times.