New German Chamber Ticker online: The future of work (Winter 2018)
As new technologies are beginning to penetrate the workplace, leaders need to rethink how to adjust the ways their businesses are run.
China’s economic growth during the past 20 years has led to a rapid increase in wages. At the same time, automation, artificial intelligence and digital platforms are transforming the Chinese labor market. By 2030, the Chinese working-age population is expected to shrink by almost 38 million people and a rapid automation scenario depicts more than 200 million workers displaced due to new technology and automation. Socioeconomic and operational challenges are intertwined with business opportunities for both young start-ups and established market players.
Following the current trends of increased automation, steady growth in sales of industrial robots and demand for high-intelligence innovations, there is little doubt that the future of work will be strongly shaped by artificial intelligence and that it will take place in both virtual and actual reality. The extent that the contemporary workforce will be affected by job displacement and automation scenarios highly depends not only on the macroeconomic environment, but equally on individual micro-economic choices and the ability of organizations and individuals alike to embrace change.
As new technologies are beginning to penetrate the workplace, leaders need to rethink how to adjust the ways their businesses are run. In this issue of the Ticker, we will look into how organizations can adjust by implementing “New Work” structures or how executives can recognize and foster learning-centric leadership in their own organizations.
Embarking on new pathways and adapting to an increasingly digitalized environment, the German Chamber Ticker itself has engaged into a digital transformation. With more content published through the official German Chamber WeChat accounts of Shanghai and North China, the German Chamber Ticker magazine has been adapted to the demands of today’s “on the go” lifestyle.
We hope you enjoy reading!