Are we lucky, or what?
News reporting on digital disruption tends to focus on the negative. AI will kills jobs, entire companies and industries are being disrupted, and so on. While factual, this reporting misses out on one important thing....
Every change is an opportunity!
As leaders and practitioners in the digital transformation era, we can help ourselves, our people, and our societies by focusing on what we can do to harness this powerful change for good.
Disruption Times is all about how to bottle the magic of the digital era for controlled, positive use; to ponder on possibilities; and to share thoughts on how we can successfully navigate this Fourth Industrial Revolution.
Because we're lucky to be living through an industrial revolution
The Fourth Industrial Revolution is blurring the lines between the physical, biological and digital worlds. We're fortunate to have the opportunity to shape this. That might come across as slightly pollyannaish. This bi-weekly newsletter will make the case over time that it is not.
Seize the Opportunity!
Here are a few ideas from around the web on the exciting possibilities that are sprouting. In this newsletter and the ones to come, I will focus my effort on highlighting what we can do. Let's jump in directly into the deep end...
1. Research shows that AI and ML automate and complement tasks; not fully automate occupations. There's a big difference between automating tasks and occupations. The former creates opportunities to add higher value. See research here: https://www.aeaweb.org/articles?id=10.1257/pandp.20181019
2. Digitization is a big GDP growth opportunity. Although a couple of years old, the McKinsey work on creating a country and industry digitization index is one of my favorites. Europe was 12% of its digital potential and US was only 17%. Even simply getting lagging industries and companies to become average would boost GDP growth 1%
3. Get started with addressing the skills gap on digital transformation. Digital Transformation spending will hit $1.7 Trillion in 2019, yet 70% of the employees don't have the requisite digital skills to be successful. https://www.information-age.com/gartner-skills-shortage-123474620/
Take charge, fellow-leaders. Industrial revolutions are not easy, but that doesn't mean that they cannot be useful or rewarding.