Future of work is changing dramatically, the rate of pace is magnifying. Artificial Intelligence, automation & robotics is having a huge influence on where you work, how you work and what you work on. Jobs are getting changed, new jobs are coming into fore, some not even thought of, this is a whole new paradigm. This presentation explains the journey, the impact and the new frontiers, it is insurmountable. It's a new wave, cherish the pace and enjoy the journey with the same nimbleness and poise as it is taking over our lives.

1. Prem Bhagat
THE FUTURE OF WORK

2. Thought, conceptualized & created
by Prem Bhagat
Advent of Automation enabled by
AI, technology & robotics

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by Prem Bhagat
LEADS TO HIGHER
PRODUCTIVITY &
INCREASED
EFFICIENCY + SAFETY
+ CONVENIENCE

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by Prem Bhagat
CHALLENGES THE CONVENTION
Uber / Upwork / Etsy

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by Prem Bhagat
UNIQUE JOURNEY

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by Prem Bhagat
3 TIMES THE SUSPENSE
3 TIMES THE DANGER
3 TIMES THE TERROR

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by Prem Bhagat
IT IS GOING TO BE
FASCINATING

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by Prem Bhagat
FUTURE OF WORK
Strained labor
market
Stagnating
household
economies
Skill vs
income
mismatch
Cross border
migration
Automation of
activities
Improved
talent
matching
platforms
Digitally
enabled
independent
work
Technology
creates new
job/income
possibility
Opportunities
are still in
sectors
Half of world
still offline

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by Prem Bhagat
LABOR MARKETS ARE UNDER
STRAIN AND TALENT IS
UNDERUTILIZED
Strained
labor market

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by Prem Bhagat
• 285 Million people not in the
labor force in the US / EU-15
combined
• 30-45% of the working
population is under-utilized
(unemployed, in active or
underemployed) around the world
• 75 million youth officially
unemployed
Source: Mckinsey Global Institute

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by Prem Bhagat
Polarization of labor market
opportunities

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by Prem Bhagat

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by Prem Bhagat
SKILLS, JOBS & LOCATIONS DO NOT
ALWAYS MATCH, LIMITING INCOME EARNING
OPPORTUNITIES FOR MANY
Skill vs
income
mismatch

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by Prem Bhagat
EDUCATION NOT KEPT PACE WITH
THE CHANGING NATURE OF WORK

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by Prem Bhagat
• 40% of employer in 9 countries
say lack of skill as entry level job
vacancies
• 60% of new graduates not
prepared for the world of work
• There were gaps in technical
skills STEM subject
• Soft skills gaps like
communication, team work &
punctuality degrees soft skills
Source: Mckinsey Global Institute

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by Prem Bhagat
UNEMPLOYMENT AND UNDEREMPLOYMENT

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by Prem Bhagat

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by Prem Bhagat
• Conversely to those who
think they are not realizing
their potential
• 37% of job seekers in a
survey by LinkedIn said their
current job did not utilize their
skills or provide enough
challenge

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by Prem Bhagat
HOUSEHOLD ECONOMIES IN ADVANCED
ECONOMIES HAVE STAGNATED OR FALLEN,
FUELLING PUBLIC DISGRUNTLEMENT
Stagnating
household
economies

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by Prem Bhagat
ATTACK ON THE
ELITE,
GOVERNMENTS,
FREE TRADE &
CORPORATIONS
Income from wages stagnated or fell for
two-thirds of the population from
2005-14 in advanced economies

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by Prem Bhagat
CROSS BORDER MIGRATION
Cross border
migration

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by Prem Bhagat
CROSS BORDER MIGRATION FILLS
SOME SKILL GAPS BUT CAN CREATE
TENSION

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by Prem Bhagat
MIGRATION BOOSTS PRODUCTIVITY
In 2015, 247 million people stayed in
country not of their birth, which has
tripled in 50 years
90% moved voluntarily
Half moved from developing to
developed
Resulting in 40% increase of labor
force growth in Canada, Spain, UK &
US
Migrants contributed – $6.7trillion or
9.4 % of global GDP
Source: Mckinsey Global Institute

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by Prem Bhagat
NEGATIVE PERCEPTION ABOUT MIGRATION
Leaving negative views about
immigration
Migrants earn 20-30% less
than natives
Middle/low income group’s flat
or failing income hold migrants
with pessimism

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by Prem Bhagat
MANY ACTIVITIES THAT WORKERS
CARRY OUT TODAY HAVE THE
POTENTIAL TO BE AUTOMATED
Automation
of activities

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by Prem Bhagat
60% of all jobs have 30 % activities
which can be technically automatable
Leading to redundancies of the roles
Highly skilled worker working with
technology will benefit
Source: Mckinsey Global Institute

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by Prem Bhagat
50% of world economy will get
affected –
1.2 billion people
$14.6 Trillion in wages
Source: Mckinsey Global Institute

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by Prem Bhagat
DIGITAL TALENT PLATFORM
IMPROVES MATCHING BETWEEN
WORKERS & JOBS
Improved talent
matching
platforms

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by Prem Bhagat
BRINGS NEW WORKING CLASS INTO THE FOLD
Working mothers
Inactive adults & the
young

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by Prem Bhagat
DIGITALLY ENABLED INDEPENDENT WORK
IS ON THE RISE
20-30% of working age
population is engaged in
independent work (US &
Europe)
Digitally enabled
independent
work

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by Prem Bhagat
Half of these are supplementing
their income

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by Prem Bhagat
TECHNOLOGY CREATES NEW JOBS &
INCOME POSSIBILITIES
2011 study by Mckinsey said
internet led to destruction of 500,00
jobs in 15 years but at the same
time created 1.2 million job,
addition of 700,000 jobs, created
2.4 jobs for every job lost
Technology creates
new job/income
possibility

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by Prem Bhagat
STATISTICIANS, DATA ANALYSTS &
DATA SCIENTISTS

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by Prem Bhagat
GOOGLE’S INTERNET “SAATHI”

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by Prem Bhagat
WE ARE ONLY STARTING TO CAPTURE
THE OPPORTUNITIES FROM FURTHER
DIGITIZING ECONOMIES AT THE SECTOR
& COMPANY LEVEL
Opportunities
are still in
sectors

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by Prem Bhagat
Faster digitize faster revenue growth & higher productivity
compared to the less-digitized peers

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by Prem Bhagat
It will change how we work, it will require ongoing adaptation, transition in
terms of skills, activities

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by Prem Bhagat
Huge productivity from
digitization – big data,
analytics & Internet of
things would add $2.2
Trillion to the GDP by
2025
Source: Mckinsey Global Institute

39. Thought, conceptualized & created
by Prem Bhagat

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by Prem Bhagat
MORE THAN HALF OF THE WORLD’S
POPULATION IS STILL OFFLINE, LIMITING
THE POTENTIAL TO BENEFIT FROM
DIGITAL
Half of world
still offline

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by Prem Bhagat
NEED OF THE HOUR

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by Prem Bhagat
STEM IN SCHOOL

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by Prem Bhagat
ENABLE A SYSTEMS THINKING
APPROACH IN WORKPLACE

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by Prem Bhagat
TRAIN
THROUGH
PUBLIC-
PRIVATE
PARTNERSHIP

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by Prem Bhagat
TECH DRIVEN
WORKPLACE
BYOD
Rewards & benefits
Hiring
Communities
Messaging & conversations

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by Prem Bhagat
INCENTIVIZE TO BUILD HUMAN CAPITAL

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by Prem Bhagat
RETHINK INCOME
Universal basic income,
Conditional transfers,
Adapted social safety etc could be
considered

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by Prem Bhagat
CREATE MORE DIGITAL JOBS

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by Prem Bhagat
HUMAN / TECHNOLOGY INTERFACE

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by Prem Bhagat
A DIFFERENT
PERSPECTIVE

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by Prem Bhagat
THANK YOU….