4th industrial revolution & the future of work

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The 4th Industrial Revolution What HR and Payroll Professionals Need To Know”

Ian Dowd NGA Human Resourceswww.ngahr.com

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What is a Revolution?

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What were the first 3?

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What is the Fourth Industrial Revolution?

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Disruptive Forces

4th Industrial

Revolution

Technological

Geopolitical

Demographic

Socio-Economic

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The Future World of Work

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The Most Common Question…

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Likelihood of Automation…http://www.bbc.co.uk/news/technology-34066941

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Likelihood of Automation…http://www.bbc.co.uk/news/technology-34066941

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Impact Timeline

Impact felt already

• Rising geopolitical volatility

• Mobile internet and cloud

• Processing Power

Sharing economy

Middle class in emerging markets

• Young demographics in emerging markets

Rapid urbanization

Changing nature of work – flexibility

• Climate change – natural resources

Up to 2017

• New energy supplies and technologies

• The internet of Things

• Advanced Manufacturing and 3D printing

Longevity And aging societies

New consumer ethics, privacy issues

• Women’s economic power, aspirations

2018 – 2020

• Robotics, automation transport

• Artificial Intelligence

• Advanced materials, biotechnology

Source: World Economic Forum

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What HR and Payroll Professionals Need to Know • Need a detailed understanding of organisation’s business model

• Understand how will that change through 2020 – disruptive forces and impact

• Understand how to make a meaningful and strategic contribution

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Opportunity or Threat?

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Summary

• The 4th Industrial Revolution has begun

• It will effect you

• Disruptive effects will continue, accelerate and multiply

• There is a key role for HR in managing the transition

• Requires strategic focus

• The changes are an opportunity if managed appropriately- Not a binary choice of opt in or out

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