Companies expect a good improvement by implementing the technologies below by changing the frontier between humans and machines when it comes to existing tasks between 2018 and 2022. Until last year, 2018, 71% of tasks were performed by humans, compared to 29%, by machines. By 2022, this standard is expected to change to 58% task hours for humans and 42% by machines. However, last year no work task was yet estimated to be performed, most of all by algorithms or machines. At the same time, the expectation for 2022 is different, by increasing the contribution of machines and algorithms to 57%.
For instance, by 2022, 62% of the organization’s information and data processing, searching reports and transmission tasks will be completed by machines, compared to 46% today. Even the ordinary tasks that are not so overwhelming for humans such as communicating and interacting (23%), developing, managing and advising (20%); likewise decision-making and reasoning (18%) will start to be automated ( 30%, 29%, and 27%).
So what do these numbers tell us?
The large firms in the global (non-agricultural) workforce indicate that 75 million jobs may be displaced by a shift in the division of activity between machines and humans, while 133 million new roles may arise that are suitable to the new division of work between humans, algorithms, and machines. At the same time, these estimates and hypothesis behind them should be treated with caution, because they represent a subdivision of employment globally, they are useful in highlighting the types of adaptation strategies that must be installed to assist the progress of the transition of the workforce to the new world.
Here are three aspects tackled for you. They will show you how Energy Utilities & Technologies are influenced by the adoption of new technologies, they will also illustrate the existing barriers created, and they will summarize the impact on the workforce.
Let’s start with a look at the following infographic. A huge share of analysis of the respondents from the industry indicated that, by 2022, their company was “likely” or “very likely” (on a 5-point scale) to have adopted new technology as part of its growth strategy.
Secondly, if we check out the barriers to adoption of new technologies, we can discover that the five biggest perceived barriers to the implementation of new technologies across the industry, as ranked by the share of survey respondents. The following graphic will inform you which were the major obstacles, that were chosen by the surveyed people, perceived as impediments to successful new technology adoption faced by their company.
Thirdly, we would like to share this information related to the expected impact of new technology adoption on the workforce. In this last graphic, you can see the percentages representing the share of survey respondents from the industry who expect their company to have adopted the stated measure(s) over the 2018–2022 period as part of their current growth strategy.
The expectation of this technological progress presents a real challenge to the existing business models and practices. At the same time, we hope for the next years that these dynamic changes, whether they are causing confusion or will be constructive will be the exact reason why new opportunities of growth appear.