?? STEEP DISRUPTION to 2030: 7 Major Shifts

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?? #STEEP #DISRUPTION to 2030: 7 Major Shifts

??? We are living through a "STEEP" period of discontinuity, which I summarize as follows:

? SOCIETY: Networked socio-economic, employee and stakeholder cultures, reflecting the needs and interests of all "stakeholder capitalism" for customers, employees, suppliers, communities.

? TECHNOLOGY: Unprecedented scientific and technological discovery -- especially Quantum Computing, Advanced Intelligence, and Metaverse (or QAIMETA) -- with converging digitech, biotech, nanotech, and materials science.

? ECONOMICS: Corporate collaboration with other entities to create evolved, shared, Digital Ecosystem Platform (DEP) network growth strategies. Plus economic cycles, potentially a tough recession and then an economic Super Boom.

? ENVIRONMENT: Environmental responsibility by all companies and brands is now a given expectation.

? POLITICS: Regardless of election outcomes and disruptions, government intervention and regulation will change corporate economic strategies and government interfaces.

?? 7 MAJOR SHIFTS

??? Overall, this requires a "human agenda," challenging leaders to adopt Future Thinking to succeed, to thereby advance the human future and position their business to thrive in this decade -- starting now!

??? 1. Employee Expectations

As power shifts from employers to employees, the old normal is being displaced. Employees want meaningful work, time and place flexibility, personalized employment models, and viable career paths.

The Great Resignation makes the point: resignations are up 23% from pre-Covid levels, and another 40% are considering quitting in 2023 alone.

There is a shift from work-life balance to life-work integration. In other words, life comes first, not work. Indeed, 99% of people working remotely enjoy the flexibility, improved productivity, and time-and- cost savings.

Remote and/or hybrid work is the new normal. Accept it. Embrace it. Profit per worker will increase significantly.

??? 2. Longevity Opportunities

Life expectancy is constantly increasing. Longer lives heighten career expectations. Indeed, this encourages older workers to pursue “second-act” careers via entrepreneurship.

Age 65 for retirement is obsolete. More senior people are well able to work many more years productively, and their experience is invaluable. In fact, many people now in their 20s to 40s may have to work well into their 70s to have a reasonable retirement income. In USA, 20% of gig workers are over age 50; nearly a third are over 65.

??? 3. Human Tech Teams

The old-fashioned view is that machines are a substitute for human workers. However, we are shifting from substitution to an augmentation framework, and from a mechanized to an organic, human-centered view of work.

AI DigiTransform also enables a human-centered culture where employees focus on lifelong skill improvement and continuously create high value-added work.

As Quantum Computing and AI automate routine tasks, upskilled workers will apply their abilities to creative problem-solving and more substantive, fulfilling work. Teams that use AI, cloud, and collaboration tools can create a positive workforce experience and deliver more value.

??? 4. Metaverse Lifestyle

The Metaverse is the next-generation Internet, where content has evolved from text, to graphics, to video, to immersive digital interactions. Connected virtual experiences -- such as banking, shopping, working, and socializing -- simulate those of the physical world.

The Metaverse is the convergence of maturing technologies — extended reality (AR/VR/MR), computation and storage (cloud and edge computing; AI/machine learning), and networks (5/6G, fiber optics). Together, these technologies will create a 3D environment where users interact with their surroundings and engage in online communities as if they are in a shared space.

Digital and virtual tech advances of the Metaverse are driving a shift from global business models, standards, and homogeneity to highly-targeted interactions to and among heterogeneous communities, comprised of individuals with common interests, regardless of location. This creates new business opportunities but requires investment in effective customer engagement and workforce development.

??? 5. Data Privacy

Before 2030, we may see a big shift from prescriptive and centralized data ownership to individuals owning and controlling their data. However, tech companies might not willingly relinquish control.

Almost all consumers want more data control, and are willing to invest time and money to gain it. For sure they want transparency with respect to business data practices. In response, Apple has made privacy protection a brand differentiator.

Governments are wrestling with data-related regulatory oversight, with the EU leading the way. However, US federal privacy bills, security legislation, and antitrust laws have stalled in Congress.

??? 6. Corporate Trust

Nevertheless, safeguarding data against cyber threats is a growing concern, and a matter of corporate trust. Data protection is likely to require more stringent regulations. Regulatory agencies are paying increased attention. And data breaches may result in substantial financial penalties.

Relatedly, overall trust is critical for companies to succeed with stakeholders. Many companies use a siloed approach, but will require CSuite ownership, verifiable data, and a company-wide ethical lens. Authenticity, transparency, and fact-based information are critical.

Likewise, increased management focus on diversity, equity, and inclusion (DEI) can help strengthen employer-employee trust.

??? 7. Stakeholder Capitalism

The shift from shareholder capitalism to stakeholder capitalism, in which companies seek long-term value creation by focusing on not just financial performance, but a broader set of environmental, social, and governance (ESG) issues, is accelerating.

Some 90% of CSuite executives say a shift from stockholder to stakeholder capitalism is underway. In the coming decade, expect to see an alignment of personal, corporate, and societal values as the framework for how business and talent decisions are made.

Workers are demanding that employers act responsibly and are flocking to organizations that infuse stakeholder capitalism into their corporate DNA. Some 64% of American consumers say they will pay more for sustainable products.

?? IN SUM …

??? Business leaders must apply their recent learning (since 2000) and choose a "human agenda" that generates resiliency.

??? And to maintain stability, companies must be dynamic and agile to anticipate and navigate future change.

Source: Condensed, adapted, and reorganized, and reworded somewhat from Deloitte's "Journey to 2030: Choosing the Human Agenda". Infographic reconfigured by myself, using their graphic icons.

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