Think HBR

From the editor

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As we enter the latter part of the decade, it is clear that the one thing that is most predictable is that the rate of change will increase.
 
Whilst we have some idea of where things are headed, the steps and their timing are largely unknown.
 
These changes will be particularly pronounced in technological advances. Most current jobs will not be around in another 10 years or so and the oncoming explosion of technology, particularly artificial intelligence, will see massive changes on how we live and do business.
 
There is the potential for massive structural unemployment, particularly for unskilled workers or those whose skill have been superseded. More radical policies such as the universal basic income will need to be considered.
 
Geopolitically, there seems no doubt that Asia, particularly China and India, will rise to be the major economic powers in the world. The USA’s more insular policy approach whilst globalisation is increasing is currently creating a partial vacuum that is helping China's global influence to rise.
 
For Australia, this will create a tricky political path with us not wanting to upset traditional ties whilst continuing to strengthen ties with the growing economies.
 
For individuals and business here in Australia, we can have only a minor impact on these massive changes ahead. But what we can do is realise that these are in motion and even if we don’t like all of them, we can’t ignore them. The unpredictability of the details of change mean that we all must be flexible and adaptable so that we will continue to offer the marketplace skills, products or services it values. We cannot blindly continue with systems or methods of operation that were successful in the past but continue to evolve with the changing world.
 
As always with change, there will be challenges and opportunities. Individuals, businesses and even countries that can minimise the former and take advantage of the latter will continue to be successful in the decades ahead.

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