A skills revolution: from consumers of work to builders of talent
From the rise of robots, globalization and mass migration to the shock vote of Brexit, the U.S. elections and wider geopolitical uncertainty, the Human Age has arrived. This confluence of digitization, machine learning, aging and shifting populations, polarization, consumerization and alternative ways of working means business models are being transformed. The first phase of this transformation manifested itself in faster speed to market and new models competing with traditional businesses. Agility and performance were critical. As the business landscape continues to change we have entered a second phase. Technology is transforming the need for physical infrastructure and assets, enabling organizations to create value through capture, analysis and exchange of vast amounts of data. And, we are seeing the emergence of a Skills Revolution — where finding the right balance of technology, talent and human connection will be what enables both people and businesses to succeed. Individuals with in-demand skills will continue to call the shots on how and where they work, while those without will be at greater risk of being left behind. Organizations must be nimbler than ever in this environment of heightened risk and compressed margins. The move to non-asset intensive platforms with access to people, reach and value creation will define success. It will be these new business models and their network effects that will make it easiest to compete and win, capturing competitive advantage that is increasingly transient.