Why the Center for Economic Strategy?

The world is changing. The center for economic strategy the world of work is changing. And not for the better. A recent study found that more than half of the world’s jobs are at risk of being automated. The coming wave of artificial intelligence and robotic automation will have a dramatic impact on the world of work. That is why the Center for Economic Strategy at the New Economic School is launching an initiative called Future of Work. The goal of this research and outreach initiative is to understand how the changing world of work will impact different income groups and how people can best prepare.

This blog post is the first in a series of posts exploring the changing world of work and its implications for different groups within the workforce. It begins with a look at why the Center for Economic Strategy is launching Future of Work, who we hope to reach with this initiative, and why it is so important.

Why Are We So Concerned About the Changing World of Work?

The world is changing. The world of work is changing. And not for the better. A recent study found that more than half of the world’s jobs are at risk of being automated. The coming wave of artificial intelligence and robotic automation will have a dramatic impact on the world of work. That is why the Center for Economic Strategy at the New Economic School is launching an initiative called Future of Work. The goal of this research and outreach initiative is to understand how the changing world of work will impact different income groups and how people can best prepare.

Who is This Blog Post For?

The main audience of this blog post and future posts in the series will be workers in the UK and across Europe. However, we believe that the insights and messages of the series can help people understand and prepare for the changes that will affect jobs across the globe.

Employees and employers
Policymakers and public officials
Students and graduates
Retirees
Parents and caregivers

Introduction to the Changing World of Work

In recent decades, the number of jobs in many western countries has decreased while the number of people looking for work has increased. This mismatch between supply and demand has led to an increase in unemployment and a decrease in wages. The changing world of work is the result of the rise of digital technologies and increasing global integration.

Though the pace and scale of change differ by region, country, and industry, the following are some of the major changes people will experience as a result of the changing world of work.

New Ways to Make a Living

Self-employment and new business models will become more common. Today, more than a third of US workers are self-employed. However, the actual number of self-employed workers could decrease due to the rise of new business models like on-demand services.

New Roles for Workers

With the advent of new technologies, workers can choose to specialize and have a role that matches their specific skill-set. This could mean that a once rigidly defined job title is no longer needed. In addition, the nature of work is changing. Increasingly, work is about providing services to customers rather than processing raw materials or physical goods.

New Ways to be Employed

Since almost any job can be automated, the way that people are employed is also changing. More flexible work schedules and the ability to work remotely will become more common. In addition, independent contractors will become a more common type of employee.

New Ways to be Employers

As the nature of work changes, so too is the way that people seek to hire workers. More employers will rely on independent contractors and other flexible workers. At the same time, more will look to add employees through traditional channels like on-site employees and contractors.

New Ways to be an Employee

With the advent of new technologies, it has become easier to become an employee. With the rise of the sharing economy and new business models, people can choose to work for a company without owning the company’s equipment or taking up space in a company’s office.

How to Respond to the Changing World of Work

The changing world of work raises significant challenges for workers and policymakers. However, it is also an opportunity to create new opportunities and improve the quality of life for millions of people.

New Roles and Opportunities: The key to successful adaptation will be to find ways to capitalize on the changing world of work and make it an opportunity rather than a threat. If people are aware of the opportunities that the changing world of work offers, they can build new skills and find new ways to make a living.
New Roles and Recognition: The need to adapt to the changing world of work leads to a key recognition. Humans are social animals. We are happiest and most productive when we are connected to others. Finding ways to stay connected to family, friends, community, and country will be important.
New Skills: The need to respond to the changing world of work also leads to a key lesson. Though new jobs will be created, many of the existing jobs will need to be redefined. As a result, workers will need new skills to fill new roles and be effective in their new jobs.