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New Industrial Revolution and Implications for the Labor Force and Universities
The document discusses the rapid changes brought by digital disruption, resulting in the decline of routine jobs and the emergence of new roles that did not exist a decade ago. It highlights the impact of automation, globalization, and the shift towards platform-based business models on the labor market. Additionally, it addresses the evolving nature of organizations and the importance of adapting to future changes in skills and employment strategies.
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New Industrial Revolution and Implications for the Labor Force and Universities
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- 2. Halloween in Nashville,1974 2016
- 3. If the rateof change on the outside (of an organization) exceeds the rate of change on the inside, the end is near.... -Jack Welch
- 4. Digital is themain reason just over half the Fortune 500 companies have disappeared since the year 2000. -Pierre Nanterme, CEO Accenture, 2016 Yet..Digital disruption has only just begun.
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- 6. Decline in routinejobs, even after recovery H. Siu (Univ of BC) & N. Jaimovich (Duke Univ), 2015
- 7. The commodification ofbanking In 2000, the U.S. cash equities trading desk at Goldman Sachs’s New York headquarters employed 600 traders, buying and selling stock for large clients. Today there are just 2 traders left. http://www.nanalyze.com/2017/02/artificial-intelligence-investment-banking/
- 8. If replace 1000 workerswith one more robot Data from 1990 to 2007 in the USA 1) Employment to population ratio down by 0.18-0.34 PPt 2) Wages down by 0.25-0.50% D. Acemoglu (MIT) & P. Restrepo (Boston Univ), Robots and Jobs: Evidence from US Labor Markets 2017, Natl Bureau of Economic Research Working Paper.
- 9. All jobs havebeen created within non-routine Food service Housekeeper Programmers Data scientist
- 10. Jobs that didnot exist in 2006 App developer Social media manager Uber driver Driverless car engineer Cloud computing specialist Big data analyst/data scientist Sustainability manager YouTube content creators Drone operators Millennial generational expert https://www.weforum.org/agenda/2016/06/10-jobs-that-didn-t-exist-10-years-ago/
- 11. All our knowledgeis about the past, but all our strategic decisions are about the future. What we don’t know we don’t know about the future What we know What we know we don’t know
- 12. “We always overestimatethe change that will occur in the next two years and underestimate the change that will occur in the next ten.” - Bill Gates, The Road Ahead, 1996
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- 15. Olli - 3Dprinted autonomous vehicle with IBM Watson https://www.3dprintingbusiness.directory/news/local-motors-prepares-serial-production-ollie-3d-printed-smart-vehicles/
- 16. Rethinkery enables theAI CEO through “work looking for people” on Upwork
- 17. “Flash organization” createdwith Foundry staffing Upwork freelancers Valentine et al., 2017, http://hci.stanford.edu/publications/2017/flashorgs/flash-orgs-chi-2017.pdf
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- 19. FIRM FOUNDED EMPLOYEESMKT CAP BMW 1916 122,000 $56B UBER 2009 7,000 $62B MARRIOTT 1927 200,000 $32B AIRBNB 2008 5,000 $21B WALT DISNEY 1923 185,000 $172B FACEBOOK 2004 15,000 $369B WALMART 1962 2,300,000 $206B ALIBABA 1999 36,000 $241B Adapted from Parker & Van Alstyne, with Choudary, 2016, and updated January 2017 Something fundamental is changing
- 20. Platform-based business models Enablinginteractions among “strangers”
- 22. Trading one jobfor a number of “gigs”…
- 23. “Third Places” andco-working spaces
- 25. • Automation • Globalization •Rising productivity of select few -Ryan Avent Increasing social responsibility An increasing abundance of labor
- 26. The role ofuniversities?
- 27. Digitalizing the Investornetwork
- 28. Community platform Hierarchicalfirm VS E.g., Microsoft ~Created by employees within organizational boundaries E.g., Automattic ~ Created by community collaborators regardless of affiliation Teigland, Di Gangi, & Yetis 2012 The Flipped Firm: New model of value creation?
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- 30. Knowledge through MOOCs (MassivelyOpen Online Courses)
- 31. What progress isthis? https://sv.wikipedia.org/wiki/Handelsh%C3%B6gskolan_i_Stockholms_historia
- 32. Changes in thetop 10 skills
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- 35. Facilitating innovation ata makerspace at Georgia Institute of Technology https://smartech.gatech.edu/bitstream/handle/1853/53813/a_review_of_university_maker_spaces.pdf
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- 37. Exploitation Improving existing value creation activities Exploration Developingnew value creation activities Adapted from March 1991
- 38. Robin Teigland [email protected] www.slideshare.net/eteigland @robin.teigland If youlove knowledge, set it free… If you like this presentation and would like to contribute to our research, we accept bitcoins: 14hs4JbnQLXE87GGzu84uXGaspmxmnLpwC. Thank you!!!!!