Alternative Futures: How the Collision of Automation, Inequality and Demographics Will Transform the Workforce and Economy in the Next 10 Years (a workshop)

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Preparing for “the Great Transformation”

Demographics, automation and inequality have the potential to dramatically reshape our world in the 2020s and beyond. Our analysis shows that the collision of these forces could trigger economic disruption far greater than we have experienced over the past 60 years. The coming decade will test leadership teams profoundly. Resilient organizations that can absorb shocks and change course quickly will have the best chance of thriving in the turbulent 2020s and beyond.” — Karen Harris, Austin Kimson, Andrew Schwedel (Bain & Company Micro Trends)

Part of our Mission AI event series, this workshop will offer an overview and analysis of new research published by Bain & Company, Labor 2030: The Collision of Demographics, Automation and Inequality — a unique and unsettling forecast of the future labor market and economy. Additionally, this workshop will offer a brief overview of comparable research published over the past year and explore how we can use this information to make wise, informed decisions that prepare us for the future.

We are already beginning to see and feel the impact of automation across industries and the world. When General Motors recently announced that they are laying off 14,000 workers and closing 5 plants within a year, it came as a shock to workers, the unions and, well, everyone. GM made this decision based on projections of how the auto industry will be impacted by the rise of electric cars and autonomous vehicles in the next 10-20 years. It’s being reported that Ford Motors will also announce layoffs that could dwarf GMs numbers. As industries restructure to prepare for mass adoption of automation, changes to the labor market and economy will be deep, they will happen quickly, and the effects may be felt for a long time.

This workshop is for professionals who who want to understand the forces at play catapulting us to a new and entirely unfamiliar world run by automated technologies, and who want to gain a more nuanced understanding of how society and businesses will be impacted by automation. The research will be presented by Stephanie Bosco-Ruggiero  (a PhD student at Fordham University Graduate School of Social Service).

Topics We Will Cover

Published in February 2018 by Bain’s Micro Trends team, this report explains the forces that will ultimately collide and drastically reorder the global workforce and economy. The report calls the next 10-20 years of extreme volatility “the Great Transformation.”

By 2030—little more than a decade from now—the global economy will likely be in the midst of a major transformation. Companies and investors grapple with changing conditions constantly, but our research points to an unusual level of volatility in the decades ahead… Humanoid service robots, machine learning algorithms and autonomous logistics will replace millions of service workers in the coming decade. Experts are rushing to forecast the likely impact on jobs. But most projections overlook two powerful forces that will combine with automation to reshape the global economy by 2030: rapidly aging populations and rising inequality.

We will cover the following topics from this report:

⇒    The impact of aging populations and the end of plentiful labor. The baby boomer generation powered a long but temporary surge in labor force growth. Now this group is moving into retirement, and labor force growth is slowing. That, in turn, imperils growth.

   How automation may solve one problem by increasing productivity and powering growth but creates another by potentially eliminating millions of jobs and suppressing wages for many workers.

   How rising inequality could threaten growth. Demographic shifts combined with the next phase of automation will increase income inequality from already high levels. Middle- and low-income families are likely to be hit hardest, putting downward pressure on consumer spending and growth.

   How developments are likely to unfold in the turbulent 2020s. Investment in new automation technologies should fuel a period of robust growth. When it tapers off—sometime around the end of the decade, based on our estimates—growth is likely to become severely demand constrained.

   The outlook if governments intervene more actively in the marketplace to address economic imbalances. Their options include tax, labor market and regulatory interventions. The manner and likelihood of such interventions will vary greatly from country to country.

   The practical business implications of these trends for leadership teams, including the need to adjust to a macro environment that veers between extremes.

We’ll also review media coverage of the impact of automation happening today and explore how media coverage impacts public/consumer perception and government policy (for better or worse). Attendees will participate in an interactive workshop exercise and survey to explore alternative futures according to this report.

Workshop Takaways

According to the authors, the goal of this report is to help business leaders and entrepreneurs “put these changes in context and consider the effects they will have on their companies, their industries and the global economy” (before it’s too late).

Attendees will gain a substantive understanding of this research and be able to “connect the dots” with regards to the implications of the research and relevant events happening today. The end goal is to become comfortable with speaking about this research and to think critically about what it implies.

And finally, attendees will be challenged to develop an outline of a strategy for how they (or their company) should begin to prepare for the Great Transformation.

There are no prerequisites or technical skills required. However, it is suggested that all participants read the research report before the workshop.

[Photo Credit: GM workers gather for a meeting at UNIFOR Local 222 near the General Motors’ assembly plant in Oshawa, Ontario, Canada, November 26, shortly after learning they would be laid off. REUTERS/Carlos Osorio]

Stephanie Bosco-Ruggiero

Stephanie Bosco-Ruggiero is a PhD student at Fordham University Graduate School of Social Service. She holds a BA in Political Science from Vassar College and an MA in Urban Affairs and Public Policy from the University of Delaware.

As an adjunct instructor Stephanie has taught Social Policy in the classroom and online for Fordham GSS and the Silberman School of Social Work at Hunter College. For ten years Stephanie work with Fordham GSS Professors on federally funded grant projects including the National Center for Social Work Trauma Education and Workforce Development, and the National Child Welfare Workforce Institute.

Currently Stephanie has a freelance and consulting business focused on her main interests which include social policy, child welfare, spirituality in social work, mental health, and workforce issues. Stephanie is the co-author/author of six published peer reviewed journal articles and a book entitled Adopting older children: A practical guide to adopting and parenting children over age four.

Charlie Oliver

After spending several years in corporate law in document review at global firms (White & Case, Clifford Chance and Wachtel Lipton, to name a few), Charlie segued seamlessly into tech and new media as a web video producer where she co-created and co-produced experimental web video projects. Soon thereafter, Charlie launched Art of Talk TV (a web video platform that brought the world of talk shows online).

Served Fresh Media™ (a New York-based company that provides digital media strategy, product development, and branding across platforms including social media, mobile, and live-events) was a natural next step in her evolution. At Served Fresh Media (launched in 2009), Charlie and her team provide digital strategy, senior management advisory, team building and training, strategic partnerships, and product development for companies.

In January 2017, Charlie launched Tech2025 to educate entrepreneurs and consumers on the next wave of disruptive, emerging technologies that are expected to drastically change our world in the next decade (AI, machine learning, driverless vehicles, IoT, blockchain, VR, etc.), through live-events and interactive workshops with industry experts. The mission of Tech2025 is to help entrepreneurs and the general public to understand and embrace emerging technologies. Charlie’s philosophy: “Be fearless and unapologetic in the fierce pursuit of your goals and be just as passionate about helping people.” The workshop will begin sharply at 6:10PM. Space is limited to 45 people.

There will be an in-class exercise and survey. Please bring a laptop, tablet or other device to access the internet and participate in the exercises.

There will be complimentary beverages and snacks but you are welcome to bring your own food and beverages as well.

RESEARCH TOPICS TO BE COVERED 

⇒    The impact of aging populations and the end of plentiful labor. The baby boomer generation powered a long but temporary surge in labor force growth. Now this group is moving into retirement, and labor force growth is slowing. That, in turn, imperils growth.

   How automation may solve one problem by increasing productivity and powering growth but creates another by potentially eliminating millions of jobs and suppressing wages for many workers.

   How rising inequality could threaten growth. Demographic shifts combined with the next phase of automation will increase income inequality from already high levels. Middle- and low-income families are likely to be hit hardest, putting downward pressure on consumer spending and growth.

   How developments are likely to unfold in the turbulent 2020s. Investment in new automation technologies should fuel a period of robust growth. When it tapers off—sometime around the end of the decade, based on our estimates—growth is likely to become severely demand constrained.

   The outlook if governments intervene more actively in the marketplace to address economic imbalances. Their options include tax, labor market and regulatory interventions. The manner and likelihood of such interventions will vary greatly from country to country.

   The practical business implications of these trends for leadership teams, including the need to adjust to a macro environment that veers between extremes.

We’ll also review media coverage of the impact of automation happening today and explore how media coverage impacts public/consumer perception and government policy.

There will be an in-class exercise and study to explore alternative futures according to this report.

Please bring current, valid state or government-issued ID to show building security at the venue.

If you have any questions or need additional information, email us at theteam@tech2025.com.

Signup to Attend

Refund Policy: If you can no longer make it to a class or workshop, please email us at least 7 days before the scheduled event date. No refunds will be given to cancellations made within a week of the class or workshop.  Space is limited to 40 people.

 

Start Time

6:00 pm

December 19, 2018

Finish Time

8:30 pm

December 19, 2018

Address

575 8th Ave. Floor 8 New York, NY, 10018