Almost 50% of jobs in the US are under the threat of automation, and this is all going to happen in the next two decades according to Oxford researchers. The studies suggest that the most valuable employees shortly will not necessarily be the ones with the most experience but those who can quickly gain new skills in demand.
To aid a quick study of new skills in the workspace, companies around the globe will have to continue with their current path of transitioning from analog to digital. When we have a completely digital workspace, it will allow for a seamless connection between all devices, data and work does across the board. Typically mundane office methodologies will be transformed rapidly into smart technology.
With the ever increasing speeds of the internet and computing power, smart technology is going to be integrated into the office in a variety of ways. This technology and its application are also generating data in unlimited quantities. When you consider that 90% of all data today was created in the past two years, it can be mind-blowing. This statistic is according to the US chamber of commerce.
Cloud computing is one of such technologies that is also going to liberate us from the tethers of the physical hard drives and helping us tap into data wherever we may find ourselves. To process all of this data, it is vital to have artificial intelligence and deep learning. All of these will become a reality and businesses need to adapt to stay in business quickly.
For your business, you need to make it a priority to stay up to date with the latest trends in technology. If you fall off the wagon, there is the risk of significant costs that will add up over some time.
The future of work will ride on the platform of artificial intelligence, and to support this infrastructure and processing power, businesses will have to build their own IT infrastructure that will provide a standard footing for AI technologies. Moving from legacy systems to highly complex AI systems will make things a bit more challenging.
It is also critical that as a company, you aim to stay ahead of the curve as getting there first can give you a highly competitive advantage in your industry. JP Morgan Chase is one of such companies currently going through a digital transformation that focuses on a wide range of cutting-edge technologies, from blockchain to AI to big data. This might be a great venture but investing in these areas will plainly put you ahead of the game shortly and yield enormous dividends.
If you don’t invest in the future, you are running the risk of being the victim of the disruption that new technologies come with. A lot of businesses have gone belly up due to this seeming ignorance. After getting up to speed with current technology, we must all look to ways in which it can be improved.