Business in the 2050s: What Does the Future of Work Look Like?

Future predictions are often very inaccurate.

For example, Back to the Future promised us a hoverboard, but most people who saw Blade Runner couldn’t wait to get a flying car. Unfortunately, neither is immediately available to the general public yet. This is very disappointing.

Looking to the future and guessing what the world will look like at that point is no easy task. There are just too many variables involved. New technologies that no one has seen may be drawn from ether, but existing areas with substantial growth potential may not develop as expected. A good example of this is 3D film. Production companies have been touted many times as the future of the film industry, as they believed that consumers would have the opportunity to immerse themselves in the world of cinema.

This is true to some extent, but the popularity of 3D film is now quite significant. It has been done several times so far. Instead, consumers appear to be very enthusiastic about increasing the resolution at which they can view 2D content. This is seen in the recent surge in 4K and UHD televisions.

Personally, I always enjoy looking at current trends and ideas and thinking about how they will progress over time.

It’s easy to apply this approach to the workplace. There are numerous new ideas and perspectives on how the world of work will evolve over the next few decades, recently proposed by politicians, scholars, think tanks, business leaders and others. ..

By considering these new ideas and taking the changes already taking place in the workplace one step further in the last few years, the workplace in the 2050s may look like this …

Working from home-new normal?

Working from home is growing rapidly around the world, and the statistics are stunning. For example, a 2019 survey by Forbes found that telecommuting in the United States has increased by 159% since 2007, but the same survey found that before the end of 2020, 50% of the UK workforce. Estimates that at least some will work from home. at the time.

Related to this development is the decline of traditional “lifetime work” in much of the western world, where employees remain the same employer throughout the work and the concept of career advancement is within the same company. I was looking for a promotion.

The reasons for this decline are complex and multifaceted, but employers responding to the recession by seeking greater flexibility in worker rights, and employers (or careers) seeking greater opportunities and better working conditions. Decades of wage stagnation due to more aggressive switching (even).

Similar to the decline of “lifetime work” that contributes to increasing the flexibility of both employers and employees, it becomes a self-employed person with a large number of people doing multiple jobs and doing side jobs. Take on the top of their day’s work, or freelance work in their spare time.

All of these factors combine to provide a productive, well-trained and educated Monday through Friday from 9am to 5pm without the need to physically witness the offices of major employers. A huge number of workers will be born.

However, many people who enjoy working from home do not enjoy working alone, which has led to a significant increase in coworking in recent years.

As expected, the growth of coworking spaces appears to be set to continue beyond the 2050s if more and more employees start working remotely. In fact, as coworking spaces become busy activity hubs inhabited by skilled and aspiring people from different backgrounds, it’s no wonder they connect, network and synergize with each other. is. So the coworking space could look like this: It is a fertile source of fresh innovation and vibrant new startups not only in Silicon Valley, but around the world.

Let's talk About the Future of Work in 2022 and Beyond

4 weekdays

Even if you can’t work from home, various scholars, think tanks, and employers have suggested the idea of ​​switching to four-day work week, which may lead to changes in work patterns.

For example, Exeter-based travel company STC Expeditions recently completed a 12-week trial of four-day working hours per week, but in the 2019 UK General Election, the Labor Party will have four-day working hours per week in the UK. I had an official policy of making it a standard schedule. 2030.

The logic behind working four days a week instead of five days a week shows that some studies tend to reduce people’s productivity after about 32 hours of work a week. This means that the remaining 8 hours of 40 hours a week can be returned to employees. There is almost no loss of productivity. In fact, according to a 2019 study by Microsoft Japan, when trying to work four days a week during the summer, employee productivity actually increased by as much as 40%.

Whether four days a week work is sustainable over the long term, as well as for a limited period of time, and whether Thursday afternoon will be the new Friday afternoon in terms of productivity are issues that need to be investigated over the next few years. is. , And by the 2050s, we will probably get our answer.

Robots come for all of us

And there is no escape! Whether you like it or not, automation and technological advances will sooner or later mean that our work will be done by robots that can complete their work faster, cheaper and at a better level than ever before. Means

This is not an overnight change, but by the 2050s, highly skilled custom-made robots will be doing the work that humans were doing in a vast range of industries and workplaces.

This is neither a new idea nor a new phenomenon. Consider the Industrial Revolution, where a huge number of textile workers have realized that the requirements have been exceeded by the invention of machines that can work without demanding breaks, holidays and overtime.

In more modern times, think of a supermarket self-checkout machine. This machine allows customers to take advantage of a dozen or more self-checkouts and is monitored by only one or two clerk.

The process by which specially made robots replace people in the role of work is called automation, and more about it in the future as robots are currently being developed in many very large and very important industries. You will hear a lot. By the 2050s, this will take on the work of hundreds of millions of people.

For example, in the United States, one of the largest sources of employment for men who have not graduated from college is driving a car. As a truck driver, taxi driver, Uber driver, courier, or anything else along a similar route. Even today, self-driving cars are semi-operational, and given the amount of research funding currently being invested in achieving fully functional self-driving cars, not only the reality, but also the standard, sooner or later, is logical. Seems to be the target. By the 2050s, it suggests that most of the driving work will be done by robots rather than humans.

Release the bondage

The relative benefits of UBI and how to implement it are issues that require more serious research and more explanation than described in this article, but there is another point that is important to understand in the context of UBI. .. How will it affect your business in the 2050s?

Think a little about the number of frustrated entrepreneurs you know. How many people in your life would like to start a business if they weren’t so overwhelmed by the daily pressure of paying invoices and working long hours to support their families?

If UBI was successfully implemented in many countries by the 2050s, how many people around the world would take advantage of the additional freedom they were given, both in terms of time and finances, to start their businesses. , Could have pursued a true calling. ??

As the pressure to pay household bills and expenses has been reduced, a number of bold new services and breakthrough products have been developed by skilled and educated individuals who have suddenly increased their time to work on passionate projects. Will it be?

The future is yours

Whatever your view of the ideas I have presented in this article, there is nothing inevitable, and that the world of the 2050s will be shaped by the actions and desires of the general public around the world. Worth to remember.