A New World In The Making: Anticipating & Adapting To The Transformational Changes

1. A New World In The Making:Anticipating & Adapting To The Transformational Changes Arvind Singhal

2. Preamble … • Rising life expectancies : 50’s the new 30’s? 70’s the new 50’s? • Increasing work-spans : those in 20’s today will probably have another ~40 years of working life ahead • Increasing competition (national and global) for opportunities (jobs, business from the customer / consumer) • All of this likely to happen while several disruptive changes happening in the background

3. A Quick Quiz … • How many have heard of and know something about .. • 3-D printing / manufacturing • Carbon nanotubes • MOOCs • Driverless vehicles • Big Data

4. Outline … • The three major change drivers • Emerging changes & challenges • Anticipating & adjusting to the changes

5. 3 Major Change Drivers …

6. 3 Major Change Drivers … • Many drivers of change but perhaps the 3 most impactful ones are: • Emergence of several new disruptive technologies • The wave of open-sourcing • Demographic unbalancing & rebalancing

7. Emergence Of Several New Disruptive Technologies … • Some of the most intriguing and exciting ones include: • 3-D printing (manufacturing) • New age materials such as carbon nanotube variants such as graphene, biomaterials, others • Nano-technologies • Big data analytics • Haptics • Etc.

8. Unprecedented Wave Of Open Sourcing… • Open sourcing of: • Education (Massive Open Online Courses – MOOCs) • Knowledge • Ideas • Trends • Capabilities and capacities

9. Demographic Unbalancing & Rebalancing • Relatively homogeneous demographics across the planet for most of existence of humanity and until, perhaps, till mid 19th century • Differential progress in different parts of the world (education, industrialization, economic growth, women’s empowerment and entry into formal workforce, access to good healthcare, etc.) started to create demographical imbalances (different birth rates, different life expectancies, and different social and lifestyle behavioral patterns) • As a result, today different countries across the world show highly different demographic profile

10. Demographic Shifts … 34.1 Median Age ‘10 25.3 44.2 21.2 40.0 36.7 Total Population (million)

11. Emerging Changes & Challenges …

12. 3 Major Changes & Challenges… • Among many changes (and challenges) brought by the change drivers just highlighted, 3 of the most impactful ones could be: • Transformation of complete industries beyond recognition • Steady rise in unemployment and underemployment – both in the developed countries as well as the developing ones; rise in social and political instability • Big may no longer be beautiful (or as beautiful)

13. Transformation Of Sectors & Industries ... • Fundamental transformation likely in several sectors and industries, such as: • Education • Healthcare • Energy production and distribution • Distribution & retail of consumer goods and services

14. Rising Tide Of Unemployment .. • Divergence of views on this subject, but I believe that the entire world will see steady increase in unemployment and underemployment • Some studies peg the net job losses by 2030 at as much as 2 billion! • Next wave of job losses likely to hit more white collar, middle class workers • Rise in inequity, leading to increase in social disruption and unrest

15. Big May No Longer Be As Beautiful … • The bigger companies will face bigger challenge in adapting to these changes • Larger manufacturing capacities may end up compromising flexibility in adjusting to competition and in changes in consumer trends and demands • Steady attrition in competitive advantage of large companies that is currently founded on proprietary technology, know-how, product development capabilities, branding, and marketing

16. Anticipating & Adjusting To The Changes …

17. Anticipating The Changes … • Read regularly and have diversity in reading • Read for: • Professional skills development • General awareness development • Leisure and recreation • While a lot of information is available at no cost, some would come at some cost – allocate an annual budget (Rs 10,000 – Rs 20,000) to get full access to select online information resources and purchase of e-books

18. Adjusting To The Changes … • Reskill when needed • Take advantage of MOOCs platforms such as Coursera, eDX, Open Learn, Udacity, Khan Academy, and several others to take specific online courses (currently, most are free though in future, many will come at a fee) • Try harder to become an “expert” in something • Try harder to be “stand out” in the crowd of (currently) 1.25 billion Indians and then (currently) >7 billion other inhabitants of the planet

19. A Final Word … • Do not think of managing your professional life through “100 meter” sprints (ultra short term goals and dreams) but as a “marathon” that requires: • Preparation • Building up of stamina • Acquiring technique • Understanding of milestones • Practice • Recalibration of pace as the race is being run

20. For further dialogue, please contact: Arvind Singhal E: arvind.singhal@technopak.com www.technopak.com