Probably the first time in our lifetime the necessity of tech advancement and people detachment from places exceeded the regular pace of development. Old habits are changing and new ways to work and live need to be explored, redefined, and adapted.
Everything is forced online
Some things work, some others do not as there is a delay in the adoption of tech to human current needs. Enterprise SaaS/Cloud is here for a while now but facilitates only 20% of the large corporate workflow (Digitization).
Consumers expect to do everything remotely
The number of global computer users quadrupled, even since Facebook launch in 2014. Hardware becomes more important, better devices expected to be equipped with better tools, systems, intelligence (Accessibility + Connectivity).
Work needs to be done
New tools are forced to be utilized but first, they have to be efficient, easy to use, flawless and allow the work to be done from the distance. Advanced video calls adoption and deep remote collaboration became a new normal, and new habits were established. Online socializing no longer seems weird. No commuting hours spent in the car, transit give more time to work (55% of people worked more hours remotely than being in the office), for family (53% says that they do not feel any need to come back to offices), local communities (potential comeback to hobbies, closer relationships with neighbours), (Flexibility + Decentralization).
The change is happening
The future of work is already NOW and the movement is shaping new ways of working, living and learning to have all these spheres overlapping each other and integrating them all together to the daily schedule. 81% of companies are going to adopt more flexible working arrangements and they like the hybrid: remote + office (sporadically) the most. Already 37% of jobs in the United States could be plausibly done from home and the numbers are growing.
We experienced 2 years of digital transformation attempted within 2 months. Everyone tries everything. It’s a true time of destruction of what is old and not efficient and the creation of a new work around life and the tech needs to catch up as soon as possible (Efficiency + Mindset Shift).
I believe the Future of Work is to be fundamentally transformed and needs help to bring innovation to work, life and education. I’d focus in particular on the New Work Environments subcategory that is about switching to distributed teams and eventually making the remote work a global standard. Going deeper and breaking down the area we can consider the following:
- Utilization of AI that can empower humanity, equip them with technology that increases efficiency (tools, software, platforms).
- Introducing robotics that replaces standardized, repetitive, physical tasks, automate processes and free up human potential, creative willpower, enable more strategic, conceptual work. The day-to-day nature of work could change for nearly everyone as intelligent machines become fixtures (hardware).
- VR/AR to streamline communication and provide a seamless infrastructure that can make people feel like meeting in person while being away. Lifelong learning, reskilling, freelancing, gig economy needs innovative ways to meet the clients’ needs by personalized offering (hardware +software).
- Global talent market, social distancing, personal wellbeing, hiring, employees’ benefits, retention, satisfaction, motivation factors to be redefined, refocused, personalized and taken care of regardless of location and type of work (Decentralization).
- The flexible working agreement, more project-based contracts rather than long term employment relationships will become more common. People unbundle their life from work and from studying. It can be done in different countries, time zones and one may no longer determine the other (freelancing, side hustles era).
- Diversity and Inclusion. It’s time when the most diverse and inclusive teams are emerging rapidly. Those who manage to embrace it will have a first-mover advantage to attract and retain outstanding talents globally and offer competitive, modern, disruptive but tested, flexible conditions with top-level technology that will facilitate the workflow.
People working and spending more time at home will need compatible, adequate mobiles, better screens, computers, wearables, tracking and organizing devices, VR, AR sets, home working equipment, studios, cameras, lighting, boards, collaboration features, strong connections, network access, security in place. Hardware powered by strong, innovative, disruptive tech/software will be in demand. Startups will need to work hand by hand with investors and business partners to make this transformation happen and it all will unleash multiple, new business opportunities.
The natural consequence of remote work is decentralization and people moving out of the industry hubs to smaller cities. We need to work on infrastructure and bring technology to this space where the line between work and life is getting blurred. The way we live and perceive our work has been changing and the technology is catching up with the needs that appear being so different than years ago. It’s a space when AI, automation, robotics, VR/AR will thrive, free up human potential and make the interactions more meaningful and with the smart capital being deployed in the space, we can lead the innovations to rapid development.
People will need compatible, adequate mobiles, better screens, VR, AR sets, home working equipment, seamless software, strong connectivity, and faultless security. Hardware powered by strong, innovative, disruptive tech/software will have to work hand by hand and facilitate the transition from old long hours work in the office to flexible, global business opportunities not restricted by state or country borders. The US is driving the change so the nearest focus would be nation wise but the trend is global so engaging offices in Europe (established, developed market with mature and forward-thinking innovation approach), Middle East, Asia (especially as a pioneer in tech and innovation as well as developed startup ecosystem) and Africa (potential of developing countries) will follow in the upcoming years gradually.
30% of the 50 Future Unicorns for 2020 fall into the Future of Work category. In particular, subcategory of Enterprise/big data tools dominate significantly over the other markets. DevOps and developer tools comprise almost half of this category, with companies covering enterprise search, distributed databases, continuous delivery, chat features, and customer data protection. 70% of them are already US-based.
The space is huge (SaaS itself is estimated to exceed $600bn by 2023), the transformation is fundamental (work + life + education + social life), the need for new solutions enormous. A lot of companies have taken on the mission to advance humanity and equip people with new technologies. It’s to make the work more efficient, have the freedom to work from around the world, allow companies to benefit from best talents no matter when they live. It should feel like the connection is seamless, virtual but real. The competition is fierce and the market clearly attractive and more and more companies already dived deep into space.
Tech needs to catch up with the change that is happening and if we can facilitate the process providing resources and actively participate in the process, it may be the most exciting mission as well as a profitable business opportunity for all parties involved, startups (enablers), users (people), investors (as supporters, capital and resources providers). All these are gonna be connected and interact on the different platforms.
‘There are decades that nothing happens, and there are weeks that decades happen’ (by Lenin) and that may be the best time to join the space and have an impact on how the future of work will look like shaping the brand as a first choice partner for visionary, fearless and passionate founders that make the transformation happen and upgrade the current state of living globally.
P.S. Examples of startups making future of work possible 🙂
