The pace of change has never been this fast, yet it will never be this slow again.
It is time to reflect on the year gone by, both as a leader and as a company. As well as to revisit the important trends and prepare another game changing plan for the coming year.
There has been bumps in the road, there will continue to be bumps in the road.
Charles Dickens book A Tale of Two Cities from 1859 was written atthe dawn of the first industrial revolution with similar unknowns ahead as we experience today, and gives some insights;
“It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity, it was the season of Light, it was the season of Darkness, it was the spring of hope, it was the winter of despair, we had everything before us….”
To help you define your own value proposition and game changing plan, we have summarized five megatrends that will impact our future, and ways to create your plans for the year ahead. We are sharing this also in more depth in key note speeches, workshops, real life courses and digital courses.
Five Mega Trends
There are five megatrends that will continue to impact us in our roles as leaders, citizens and companies.
Trend 1: Technology Innovation
This trend includes both rapid advancement and is exponential at its core. It builds on previous technology breakthroughs as Internet, social media, digitalisation of our companies and societies. In the coming years, the way we work, fight, age, communicate, solve problems, travel, trade, exchange information, live in cities, solve crimes, do business, vote, and connect to our loved ones will all be changed due to technology.
We will need to keep increased focus on Data, as it will be increasingly considered the new most important asset. AI will learn to automate and help predict in most areas of work, health and energy. We will see disintegration of companies and new ecosystems being formed. Improved virtualisation and visualisation will increasingly impact us through AR and VR. We will continue to see a materials nano impacted revolution and the integration with biology and humans will increase. Cybersecurity will find new challenges and solutions. While less than 5% of occupations consists of activities that can be fully automated, up to 30% of hours worked globally could be automated by 2030. The planet will continue to feel even smaller in 2030 as more people are able to communicate over the internet (90% of the world population will be able to read; 75% will have mobile connectivity; 60% should have broadband access), they will also move more. Almost all European cars will be connected to the internet in 2030
Get continuous insights on the topic of Technology Innovation from our Digital Magazines and curated Podcast Lists:
If you are a board member – don’t miss the academic research article we co-wrote “Innovation and Corporate Renewal also Disrupt Boards” with examples of transformative boards good practices. Also stay tuned for the updated insights on boards digital progress from Digoshens research, and for the book we will publish in shortly from the academic research project 4boards.ai on How boards need to guide and supervise Artificial Intelligence.
Trend 2: Planet Resources Challenges
This trend of climate change and resource scarcity is now on top of many responsible people, governments and company’s agendas, as its force of impacting the future is of existential importance.
We will see climate impact continue to challenge us, and we urgently need to use technologies and circular and sharing economies to find solutions, and diplomacy to find agreements, for a joint liveable planet. Average temperatures on the planet are forecast to rise by more than two degrees before 2100, much due to the burning of fossil fuels, creating significant and irreversible damage and increasing strain on global resources. Drought and floods will impact crop yields, regional heating and many highly populated costal areas will be in consistent trouble as sea levels rise. The global demand for fresh water will exceed supply by 40% in 2030, and water will be astressed resource, and it seems likely that many cities will be constantly in a state of water shortage. By 2030, the loss in productivity due to the hotter climate will mean the loss of more than 1.7 trillion euros globally. The shift from oil to clean energy will be inevitable, but also how to use energy more efficiently. The coinciding trend with driverless cars will drive for them to be electric to support the climate goals.
Find continuously updated insights on the topic of Planet Resources Challenges from our Digital Magazine and curated Podcast List:
Trend 3: De-Globalisation & Power Shift
Population growth drives the regional growth in Asia and Africa to far surpass Europe and Americas growth. We will experience a challenge to our globalisation and we will see power shifts taking place. We are also challenged to find agreement and a more equitable and fairer world. The average global economic growth will be around 3% a year in the coming decade, making the world a richer place than today.51 Most of this growth will happen in the developing economies, whose growth will accelerate from 3.1% currently to 3.6%. Developed economies, too, will grow, although at a much slower rate: Europe, for instance, is projected to grow at 1.4% a year.
China is expected to become the world’s largest economy, surpassing the United States. We will see a more regionalised world, and China will become the new superpower with more than 200 cities with above 1 million inhabitants, already has more than 100 unicorns with a 1B USD valuation and is forecasted to be the largest user of the international patent system. However when we measure the GDP per capita then china will grow from currently $10,000 to $14,000 in 2030, and Europe’s GDP per capita is expected to grow from $37,800 to around $50,950.
Find more insights on the topic of De-Globalisation & Power Shift from our Digital Magazine and curated Podcast Lists:
Trend 4: Social & Work Change
The trend that will impact many of us will be the demographic and social change. Many of our societies and companies are built for a different outset. We will be challenged in our welfare systems, our ways of working and our trust of societies, companies, politicians, news and each other. And our regulations will need to become more adaptive. The world should reach 8.5 billion people by 2030and the fastest growing demographic will be the elderly, with the population of people over 65 years old at 1 billion. Europe is still expected to be the world leaders in quality of life. The spend on healthcare will have to be offset with support of technology, as robots becomes our best friends. The amount of information collected on every person, product, and organization will grow exponentially, and the pressure to share that information will expand.
Continuously learn about the topic of Social and Work Change from our Digital Magazine and curated Podcast List:
Trend 5. Urbanisation & Migration
The rapid urbanisation is already ongoing, with many smart city initiatives to handle the impact. Some of the other trends in planet resource challenges and power shifts are increasingly moving more people into migration. Currently about half of the world’s population lives in cites and that will grow to about 60%, ranging from 81% in developed countries vs. 56% in the developing world. More mega cities will be created. Urban agriculture will need to rapidly expand.
Between seas, heat, and shifts in water availability, mass migrations will be likely. Data-driven technologies that make buildings, the grid, roadways, and water systems substantially more efficient. By 2030, air passenger numbers may have nearly doubled to more than 7 billion – most of which will be from the Asian middle class. Air freight may triple and port handling of maritime containers worldwide could quadruple by 2030.
Get more insights on the topic of Urbanisation & Migration from our Digital Magazine and curated Podcast List:
Charting the Future
Now, more than ever, we need to look towards the purpose of ourselves and the purpose of our companiesand chart our own path both professionally and for our business and to create our best future.
And we will all be challenged on how to understand it and how to achieve it. But it is important to take out the direction and start the journey. For both organisation and for individual leaders.
Responsible Leadership for a Game Changing plan means as a Business or Organisation to
- monitor strategic trends and signals,
- outline scenarios for potential futures,
- define your viable purpose to achieve a better future and
- create the best value creation opportunities based on scenarios and the capabilities possible to build on,
- outline the value propositions
- focus on the long term and balance the short term,
- engage employees, partners and customers in the journey,
- keep improving, experimenting and adjusting to quickly learn the best way forward.
Responsible Leadership for a Game Changing plan means as an Individual, you need to
- find the signals of future trends,
- building on your strengths and capabilities,
- finding the worthy purpose and main areas where you like to have your mission to be able to add value. You need to
- clarify your ambition in those areas for both and short and long term,
- define your value proposition as leader or board member
- find the resources or partners to co-develop and/ or support you on the journey, and
- find ways to experiment and find energy to stay the course.
Get continuous insights and inspiration to lead the way and create a prosperous future, from our Digital Magazines and curated Podcast Lists:
- Board and Corporate Governance Insights
- Leadership Inspiration
- Governance, Risk and Compliance Insights
- Entrepreneurship and Scaleup News
It has never been a better time to grasp the opportunities ahead and we wish you all a Healthy, Exciting and Prosperous 2020!-Digoshen
Sources: Thanks to insights shared for the Megatrends by IFTF, WEF, World Bank, Blackrock, MIT Sloan, INSEAD, RolandBerger, PwC, McKinsey, BCG, Deloitte, EY, KPMG, European Commission, OECD, Frogdesign, Trendhunter, Ericsson, InterstingEngineering, Trendwatching, Copenhagen Institute for Future Studies, Kairos Futures, Digoshen Research
At Digoshen we work hard to increase #futureinsights and help remove #digitalblindspots. We believe that Companies, Boards and Business Leadership Teams need to understand more of the future and the digital world to fully leverage the potential when bringing their business into the digital age.
To understand where you and your company stand in relation to digital business and leadership progress, take our survey at Digoshen.com/research and get a free of charge personalized report with recommendations on how to move forward. The survey is anonymous and takes about 15 minutes to complete.