The Next Great Economy? McKinsey on Covid-19
I thought I would share this article from McKinsey on the potential shape of things to come. Clearly the Covid-19 pandemic has changed our world in the short-term, the real question however is how has this potentially shaped our world in the long-term?
One part that particularly caught my eye ‘Greater automation was already occurring before COVID-19. In late 2017, the McKinsey Global Institute estimated that 60 percent of all jobs could see more than 30 percent of their key tasks automated, affecting 400 million to 800 million jobs around the world by 2030.’ If automation is the future a) how fast does automation start and b) what is the impact on the employee? Can they be redeployed or retrained? Can organizations become more efficient by automating in some areas and redeploying human resources in other areas? Leveraging the ‘do more with less’ requirements of all companies may mean recognizing both efficiency needs and human resource needs. Clearly, tomorrow will be a different day, how will we look tomorrow?