An Evening with Don Tapscott at the Rotman School of Management
How good are you at thinking on your feet? I must admit that I am not that great because I tend to reflect on the information that I am taking in, therefore it is difficult for me to respond right away. With that in mind, I recently attended The Digital Economy – A 20-Year Retrospective and Perspectives for the Future, a part of the Big Ideas Speaker Series @ Rotman, where Matthew Bishop, Globalisation Editor, The Economist interviewed Don Tapscott.
This year marks the 20th anniversary of Tapscott’s book, The Digital Economy ANNIVERSARY EDITION: Rethinking Promise and Peril in the Age of Networked Intelligence
, which was first published in 1994. From Don Tapscott’s viewpoint, his book is still on mark, and he didn’t have to make many changes for the new edition of his book. He responded with thoughtful and insightful answers to Matthew Bishop’s questions. Now that I have had time to sleep on the information that I absorbed from the event, some of it now weighs heavily on my mind.
In the past five years, the rate of change due to technology has been astounding, and over the past two decades, many jobs have been lost because of automation. The news from Tapscott is not encouraging because he believes that the rate of technological change will accelerate, and more jobs will be lost to robotics and big data. He mentioned a recent visit to Walgreen’s where there were no cashiers, you have to check-out your purchases. In Toronto, you have the option of using the cashiers or doing it yourself in some retail establishments such as Canadian Tire and Sobeys. Technology is wiping out entire sectors. But, on the other hand, according to an Insead article, “How Can You Leverage Big Data?”
“By 2018, the United States alone will need 1.5 million managers with the know-how to analyse big data to make effective decisions, according to McKinsey. But with such huge demand, inevitably comes tight supply. The biggest reason why some organisations are not considering or further exploring the use of big data is the lack of capabilities and skills, according to our survey. A study by Teradata backs this up. The firm recently found that 43 percent of C-level executives favour software development skills over business intelligence skills when hiring employees to handle big data, even though only half of companies have a big data strategy in place.”
Tapscott also mentioned some statistics he recently came across that robotics should eliminate 30 percent of the workforce in the United Kingdom within the next 25 years. During my period of reflection on the information, I made a connection between what Don Tapscott said with what Marty Neumeier said in his presentation also at the Rotman School of Management — creative work could be your secret weapon to the impending automation crisis. When you produce creative work, it is more difficult to copy, so Neumeier recommends that you learn from what artists do. In a similar vein, William S Burroughs said in his Creative Reading lecture that art techniques are 50 years ahead of writing techniques, and his intent was for us to look at art to determine future trends. We have to get off the me-too bandwagon and start creating unique ‘art' that solves real problems.
Related Posts/Further Reading
William S Burroughs’ Book Recommendations – Books off the Beaten Path
Marty Neumeier’s Rules of Genius
How Can You Leverage Big Data?
Technology will destroy more jobs – the evidence is there – and Tapscott suggests that one solution to the problem is perhaps to have a 4-day work week. He applauded Ryerson University’s President, Sheldon Levy for encouraging students to start businesses while pursuing an education. Tapscott also talked about creating a new agenda to address the big issues in the world – one example is the inroads that is being made with climate justice and need for change if we want to save the environment.
Overall, it was an evening well spent listening to Don Tapscott, and I look forward to reading The Digital Economy: Rethinking Promise and Peril in the Age of Networked Intelligence, which was included in the price to attend the event. Now back to my original question about thinking on your feet, I wish I was more agile, but on the other hand, I do not want to lose my ability to make connections, which I can only make if I take my time to process the information. What are your thoughts?
Further Reading
What Happens to Society When Robots Replace Workers? (Harvard Business Review)
Key Takeaway
Take stock of your career, are you relevant? If not, what changes can you make now to prevent your job from being eliminated by technology. Do you need to upgrade your skills set?
3 Ways to Apply the Information
Listen to Creative Reading – William S. Burroughs, Naropa University
Read the blog post, 46 Rules of Genius by Marty Neumeier, Book Review
Read the book, The Digital Economy ANNIVERSARY EDITION: Rethinking Promise and Peril in the Age of Networked Intelligence
Liked this post? Share on social media as well as subscribe to my RSS feed and get loads more! If you’re new to the blog, visit the Start Here page for my pillar posts.
Author Bio: Avil Beckford, an expert interviewer, entrepreneur and published author is passionate about books and professional development, and that's why she founded The Invisible Mentor and the Virtual Literary World Tour to give you your ideal mentors virtually in the palm of your hands by offering book reviews and book summaries, biographies of wise people and interviews of successful people. Connect with me on Facebook and Twitter.
Book links are affiliate links.