Monthly Archives: April 2018

A Perfect Storm – the new 21st Century economic reality

A Perfect Storm – the new 21st Century economic reality

I am reading a book called ‘Surfing the Techno-Tsunami’ by Paul Hornsey-Pennell and in it he says 120 million jobs are forecasted to be lost in the UK and US alone to automation and AI by 2030. He says, “we have entered a new era, possibly even a new age/civilisation”.

He goes on to say, “we have time, but we need to act now and spread the work, because everyone is going to be impacted”.

Working from home will become the new reality for most people. Working from home is something that has been around for many years, but mainly as a small percentage of the working population. Over the next 10-20 years this is going to be flipped 180 degrees with most people working from home, (as it was before the industrial revolution), as part of the new self-employment and gig economy.

(A gig economy is an environment in which temporary positions are common and organizations contract with independent workers for short-term engagements. This trend has begun. A study by Intuit predicted that by 2020, 40 percent of American workers would be independent contractors)

That’s 2020, it’s happening now, the world has changed, the career has gone. This is the new reality and it is going to freak out people, no job, no wage, what do I do?

Remember we have time to act (not a lot) and if we get this right we can liberate ourselves from the mundane whilst enabling an unprecedented quality of life.

The new reality for most people in the future will be:

  • Self-employment, working from home or are part of a local community hub
  • Have a number of microbusinesses, providing services into their communities, ideally businesses that provide residual income opportunities to provide long term security and pension pot income streams
  • Have short-term gig engagements with companies using the skillsets they have built up over the years, (if they are still relevant and have not been superseded by AI or Automation which is highly likely)

If you get this right what you can also achieve is:

  • Empowerment
  • your own work life/balance – you set the hours you work
  • You are going to become part of a community of like-minded people
  • You will be able to leave a legacy
  • Freedom

Call to action – Do your own research on this, I can also recommend ‘Sapiens’ and ‘Homo Deus’ by Yuval Harari. Find you passion, engage with personal development and get involved with the conversation – let’s do it together.

Live, Love, Freedom and Leave a Legacy