January 31, 2019 - Comments Off on Webinar Summary – Future of Work: Why? What? How?

Webinar Summary – Future of Work: Why? What? How?

On 16th January 2018 Rajiv Jayaraman, Founder and CEO of KNOLSKAPE and Manish Bahl, Head – APAC, Centre for the Future of Work delivered a webinar on the #FutureofWork. In the webinar, Jayaraman and Bahl unraveled the why, what and how of the future of learning, and discussed the many possibilities that organizations can look forward to, given the disruption in learning methods. What follows is a summary of the webinar:

Artificial Intelligence has already started to take over everyday operational tasks. In the future, it is also said to take over many cognitive jobs, leaving organizations perplexed about how to scale their people to manage and thrive amidst this disruption. This worry is not ill-founded. According to Malcolm Frank, Paul Roehrig and Ben Pring, in their book ‘What to do when machines do everything’, Artificial Intelligence will have a significant impact on work in the next five years.

The good news is that, according to research, Artificial Intelligence will only replace 12% of jobs, while enhancing 75% and inventing 13% new jobs. The question remains, are people ready for this disruption? According to research by the Centre for the Future of Work, both corporates and higher educational institutes are slow to revamp their education and training models to meet the disruption caused by digital. In fact, according to Accenture’s Bridging the Gap in the Future of Work Report, if skill-building doesn’t catch up with the rate of technological progress, the G20 economies could lose up to US$11.5 trillion in cumulative GDP growth in the next ten years.

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But what is this progress all about? Today, technology has become such an integral part of our lives and work that it is blurring away some of the lines that were previously considered sacrosanct. These lines can be summed up in the acronym BLUR:

Boundaryless Organizations

Limitless Digitization

Unbounded Innovation

Relentless Iteration

While organizations have been successful in integrating technology, they now struggle with the people aspect of this progress. In other words, organizations are struggling with Talent Readiness to clear the Digital BLUR, which requires:

a. Change in mindset to ‘Digital First’:

BLUR-1

b. Shift in capabilities across all levels of the organization:

BLUR-2

Organizations are definitely working to meet this challenge. Research by the KNOLSKAPE Insights Centre shows that learning methodology is on the cusp of disruption, and how we learn tomorrow will be markedly different from how we learn today. This change, however, is not going to be easy to execute. It requires:

  1. Breaking down old rules in favor of new ones - 64% of businesses believe work will be intertwined with learning in the future as people adopt new skills to align with employment opportunities.

2. A new learning equation to learning -

Blur-3

Explaining the Future of Learning equation:

    1. Skills: In the future, Humans and Machines will represent two sides of the same coin –
      1. Humans will represent the art of jobs – channel visual cues, empathy, judgement, ethics and social cues to decide ‘what’s the right thing to do?’
      2. Machines will represent the science of jobs – use data analysis and pattern recognition to conclude ‘based on empirical data, what’s the appropriate next steps?’
    2. Content: Digital technology has made content easily available to us at our finger tips. Therefore, the future will be about curating data for hyper-personalized learning, embodying the Netflix model – updating content on a continuous basis.
    3. Training: In the future, the focus will shift from ‘What to learn’ to ‘How to learn’, and much of learning will be self-paced with learners taking control of their learning process.
    4. Speed: Speed is the name of the game in the future. Research shows that 80% of employable skills will evolve more rapidly in the future. Therefore, organizations need to accelerate the time frame in which content is curated and training is delivered.
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KNOLSKAPE’s philosophy on learning breaks down the Future of Learning Equation into a 6C approach for the Future of Learning:

BLUR-5

At the core of the Future of Learning is ‘Continuous Learning’ which is a loop of habit:

BLUR-5

Learning, as it is today, fails at creating a habit loop as both ‘Routine’ and ‘Reward’ are excluded from the process. Therefore, learning has not yet become a continuous process for learners. According to Rajiv Jayaraman, the best way to create a habit loop for continuous learning is by incorporating the elements of:

  • Gamification – Using game-based elements such as leaderboards, points systems and badges in non-game situations such as learning, exercise and work to inspire individuals to come back to the activity and make it part of daily routine.
  • Analytics – Incorporating metrics that track, measure and highlight performance, strengths and weakness, improvement areas, social competition drives motivation to continue participation in the activity, be in learning, exercise or work.
  • Artificial Intelligence – Using machine-based mechanisms for human-like interaction accelerates learning while eliminating bottlenecks, biases and severe business impact.

The future of learning will heavily rely on these elements to accelerate learning. Investing in these methods of learning is a boardroom priority, because the Future of Work is a mirror of the Future of Learning, as adopting the Future of Learning Equation =

  1. Identifying skills required for future jobs
  2. Curating flexible and adaptable content that is updated on a continuous basis
  3. Embracing new forms of learning pedagogy for increased effectiveness.

You can listen to the recording of the full webinar here.

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Watch this space for future webinars from KNOLSKAPE.

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  • Published by: Anand Udapudi in Blog

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