A study from St Martins School in Oxford indicated that more than 50 percent of all jobs are repetitive which would be automated in the near future . This would have serious economic implications for the city, state and country. Mr.Patrick would help us better understand the current thinking of global companies and help us align our strategies.
Business organizations and governments along with members of civil society will have to adapt to new emerging economic and security models.
Automation is increasing both efficiency and effectiveness for businesses through innovative ways of working. The decoupling of productivity and wages explains the stagnation of salaries of the middle class thereby increasing inequality within our societies. This is disrupting both workplaces and social environment. Due to rapid technological changes, employees are increasingly turning into freelancers or "independent workers" which necessitates new social contracts to be written between employers and employees .
Location is no longer defined by where people live and work , as people and their work have become more mobile and flexible through technology. Such technological advances will require workers to develop new skills and competences. State welfare systems that rely on labour taxation will be affected due to drastic reduction in the number of employees. In the future , it will be necessary to realign the relationship between education and the relationship between humans and machines.Business leaders will have to coordinate with public bodies and civil society representatives to mitigate the impact of automation . We might also have to consider establishing a universal income to cope monetarily with the incredibly fast and radical technology disruption.