Digital transformation – what does it mean and are we ready for it as organizations / employees?

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The report of the World Economic Forum (The Future of Jobs Report 2018) shows that the tendency to shift the boundary between tasks performed by people and those performed by machines is becoming stronger and faster, and the global labor market is undergoing significant changes. In 2018, the average amount of working time performed by people was 71% in relation to 29% of the working time of machines (survey conducted among companies from 12 different industries). In 2022, companies expect these proportions to change from 58% to 42%.

This transformation – wisely managed – can lead us into an era of good work, an ever better quality of life, but if not, it risks widening skill gaps, increasing inequality and polarization in the world of work.Companies are looking for modern technologies to increase production efficiency, enter new markets and compete with new products on the global consumer market. This poses powerful challenges for business leaders across all industries and regions to formulate a comprehensive strategy for employees ready to meet the challenges of a new era of ever-faster change and innovation.

According to the report, the immediate work environment is also transforming, and there is less and less time to manage the process well – a challenge not only for business in general, but also for governments and workers themselves. Everyone should actively implement the new vision of the global labor market. The report lists four technological phenomena that, in the opinion of experts, will dominate the coming years in business (2018-2022) and have a positive impact on economic growth: ubiquitous high-speed mobile internet; artificial intelligence; widespread use of big data analytics; cloud technology. Of course, they will be accompanied by sociological and economic changes, such as increasing educational opportunities among the middle classes of societies, especially in developing economies, and the move towards a greener world economy thanks to advances in new energy technologies.

Digitization is a necessity for businesses.

  • If they do not change their business models, they will go out of business.
  • The same report shows that yes – the automation and introduction of artificial intelligence will eliminate human work from certain positions or professions (50% of organizations expect it by 2022), but at the same time it will create new professions and jobs in a much larger number (about 38% of organizations).
  • predicts their employees will be moved to new roles, and more than 25% predict that automation will lead to the creation of new roles in their company).
  • Terms such as “digital revolution”, “digital transformation”, “digital readiness” appear more and more frequently in the business dictionary. What do they mean?

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