Over 20% of jobs may be performed by machines in 20 years time. This is according to a paper written by the Future of Work Institute, in association with Cpl through its research team and in collaboration with clients and candidates, to identify future work trends and support companies in future proofing their workplaces.
The Future of Work Institute was set up in 2014 by Cpl with the objective of identifying future work trends and supporting companies in future proofing their workplaces regarding finding talent, succession planning and in informing strategic business plans.
The report was officially launched yesterday at a special HR forum hosted by Cpl in The Science Gallery, TCD.
At the event, attendees heard how machines are rapidly advancing on many routine human tasks – and this will only increase exponentially in the coming years. Clients are already preparing themselves for the advance of robots, machines and Artificial Intelligence.
According to the report, the good news is that there are plenty of jobs for humans and many of the jobs being taken focus more on processing and repetitive tasks. However, it highlights the importance for companies in looking at their talent strategy with machines and Artificial Intelligence in mind.
The report indicates that with the growth in technology across all areas of business, the power of the good idea is critical to business success and therefore the demand for top talent has reached an all-time competitive high with huge premiums paid for those creative and innovative employees. With companies like Airbnb becoming market leaders within ten years of their birth, and with more companies being disrupted by new ideas, the power of the idea has never been more important to ensure companies future proof their workplace.
Furthermore, the report predicts diversity will become one of the critical focuses for 2017 as creativity becomes of vital importance. According to the report, 2017 seems to be the year when a diverse workforce begins to become a business necessity as opposed to a ‘nice-to-have’.
All research has pointed to diverse teams and diverse workforces delivering better results to the bottom line. A diverse business is now a necessity and access to talent from around the globe is now making this more achievable, says the report.
Commenting on the research, Director of Cpl and Founder of the Future of Work Institute in Ireland, Peter Cosgrove said, "The findings in this paper are an interesting insight into future trends in attracting and managing the workforce. But it also highlights how employers have a long way to go in future proofing their businesses in order to cater for the new order in workforce diversity, age ranges, locations, and in anticipation of Artificial Intelligence and robots carrying out some duties within employee job specifications or replacing people altogether. Brexit and the Trump presidency also have an impact."