Winning in The Fourth Revolution (Part I)
In response to a few requests I’m going to outline the skills and competences I believe companies, big or small, should be focusing on to make sure they survive, and indeed thrive in The Fourth Industrial Revolution.
First some context. For many years I have been convinced that we live in a VUCA World. A world that is Volatile, Uncertain, Complex and Ambiguous. A world where Purpose and Executional Excellence have replaced strategy as the killer apps. A world where Leadership is at a premium.
2019–20 sees VUCA 2.0. Yes the world will remain Volatile, Uncertain, Complex (Brexit is the posterchild for VUCA) but ambiguous is being replaced by Accelerating.
VUCA on steroids. Why?
- Politically we are seeing the end of the American Age, the rise and rise of China, confusion in the Euro block, a more and more emboldened Russia, a navel gazing West, continued tensions in the Middle East and the rising tide of nationalism, extremism, autocracy and polarisation.
- Socially, cyber-terrorism and cyber-criminals rule. Society is becoming increasingly concerned about privacy and stress caused by the weapons of mass distraction and jobs are disappearing because of advanced technology.
- Economically we are facing accelerating disruption from FANG (Facebook, Amazon/Apple, Netflix, Google), vast new venture capital funding with a winner takes most world.
- Technology-wise we are seeing scientific acceleration driving change faster than many individuals and institutes can handle.
Welcome to the Fourth Industrial Revolution …:
The First – water/steam mechanised production,
The Second – electric power creates mass production,
The Third – digital automates at speed,
The Fourth – technologies fuse and blur the lines between physical and digital.
How do we survive and thrive?
More next week.