Larry Boyer's Blog: The Future and You by Larry Boyer

4 Ways To Prepare For Automation Software in Your Future

Continuous advancements in automation technology are making waves in the workplace. If digital machines are automating processes and completing cognitive tasks, what does the future of business employment look like?

With the rise in the number of businesses implementing automation software, the technology is starting to cause some controversy. This software is popular because of its ability to streamline traditional business processes. Although it is popular with business leaders and executives, automation is facing controversy because of the impact it’s having on employment.

While automation doesn’t aim to replace jobs, the technology is taking over repetitive processes employees have traditionally conducted.

The future of business is uncertain, but your place in it doesn’t have to be. By understanding how different types of automation can affect your business, you’ll have a better chance of being able to leverage it as a tool for your company in the future.

Automation takes on many forms in business. The type of automation that is implemented in a business can change the way employees work. Knowing the different types of automation and what they do can help you prepare for automation in your company.

Business Process Automation

Business Process Automation (BPA) is a type of automation software, traditionally implemented to automate business processes with minimal human intervention.

This is an overarching software that takes over basic, repetitive tasks. BPA isn’t an innovative or intelligent technology, which means it can only perform and complete tasks it’s taught to do. This is a low-code software, which means it typically requires users to know some type of code to correct errors and teach new skills.

Business Process Management (BPM) works alongside BPA as a digital manager. The software assigns tasks to the appropriate employees, users, and systems to ensure work is being done efficiently. While BPA can be implemented on its own, BPM traditionally doesn’t function without another automation software.

Robotic Process Automation

Robotic Process Automation (RPA) is an advanced, user-specific automation software. It can be implemented in businesses to complete specific tasks. RPA “bots” watch how humans execute a digital task and will adapt their process accordingly, improving the way they function over time.

Since there are multiple “bots” working in this software, you can teach an individual bot how to do one thing, then “clone” that bot to keep the function running at scale. Likewise, you can assign more bots to complete other specific tasks. This software will work continuously to complete tasks, ensuring processes and data sets are always up to date.

RPA is a no-code software, which means you can teach and develop it without manually “feeding” it any code. This technology is easy to manage and maintain once implemented.

Automated Testing

Automated testing is a type of automation software which tests software implemented within a company’s network to ensure it’s functioning properly. There are distinct differences between manual testing and automated testing: manual testing requires physical time and effort to ensure the software being tested is functioning correctly, whereas automated testing can cover broad and specific testing in much less time.

With automated testing, a person doesn’t have to physically explore testing options. Instead, an employee’s time is spent analyzing the test results that are automatically logged for them.

This type of automation requires upkeep and adjustments. The tests you conduct will almost never be exactly the same, so you will want to tailor this type of automation to fit specific testing needs.

Chatbots

Chatbots are a type of intelligent automation that use Natural Language Processing (NLP) and data to respond automatically to questions posed to them online through chat functionality within an organization’s website. This is a tool that can be implemented for internal troubleshooting and external customer service.

Chatbots learn from previous conversations and frequently asked questions to produce quick answers. This can reduce human intervention and improve rapid response for any company.

Automation technology is being widely integrated into business strategies. This is because automation enables better transparency and control within a company. Processes that are automated can be viewed holistically because they happen within a single program that logs and stores the information processed and collected. This software also ensures processes are as efficient as possible. When the factor of manual error is removed and the process is expedited, efficiency is at its peak.

Beyond the technical improvements, automation software improves company productivity and morale. If you don’t have to focus on mundane, repetitive tasks like data entry, claims processing, data migration, or payroll, you will have more time to focus on more fulfilling work. Employees are statistically happier and more productive when they can focus their time on meaningful work.

New technology doesn’t have to be threatening or scary. It’s possible to prepare yourself for automation integration in businesses. Here are four ways you can successfully prepare for automation in the future of your work:

While the goal of automation is to allocate repetitive processes to technology, humans are still required to monitor the software.Take the initiative to learn how to monitor and test automation software. Training will give you a deep understanding of the technology. It can also make you a valuable resource  within your company. Some of your regular tasks might become automated, but if you have the skills to monitor this automation, you won’t run the risk of being replaced.

As mentioned previously, some automation software involves coding. Learning the basics of coding can help make you a key figure in implementing automation technology. Coding will help you to tailor the software and apply it to specific parts of the business. If you know how to code, you can help avoid delays if the software runs into any issues or malfunctions. Internal employees who can take action and help to fix software quickly can be very valuable to a company.

This might seem simple, but it’s one of the best ways to prepare for automation in your future. Not every aspect of a business can be automated, there will always be work that has to be done by humans. Focus on the work that is creative, human-facing, or technical. This work will always be around, and developing a plan to be productive in this work will help you be successful when automation is implemented in your company.

Lastly, and maybe most importantly, be accepting of automation in your business. Automation is becoming a widely implemented technology, so it’s unlikely that it will go away. If your company decides to integrate automation into their business strategy, accept it and work to understand the technology. Understanding the role of automation in your company can help you learn the best way to do your job alongside it.

 

Automation isn’t out to replace jobs, but it’s here to make work more efficient. This doesn’t guarantee that all jobs will be impacted by automation in some way. But if you take steps to properly prepare yourself for the future of automation, you can play a key role in the implementation and success of it, rather than run the risk of being replaced by it.

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The Fourth Industrial Revolution And You: What To Expect

There is a lot of buzz about the Fourth Industrial Revolution around the world. Since we’ve had had three industrial revolutions already economists and business leaders understand that we’re already seeing the signs that we’ve entered another. While artificial intelligence, genomics and virtual reality are revolutionary in and of themselves, along they don't make for a revolution. So, before talking about the impact of the Fourth Industrial Revolution on you, let’s take a look at what it is.

What Is An Industrial Revolution?

An industrial revolution is marked by the convergence of technological evolutions and revolutions across industries that changes business models, products, and life styles.  By its nature an industrial revolution is disruptive, creating some new that displaces what exists on a large scale. For example, in the First Industrial Revolution we saw machines replacing skill artisan labor (like cloth making) and simple repetitive labor tasks (cotton picking). New energy or power sources, like the steam engine. New transportation systems like the rail road. In the Second Industrial Revolution we saw the introduction of the assembly line, which forever changed manufacturing. The introduction of the internal combustion engine and automobiles and the rise of the oil industry. The Third Industrial Revolution brought us computerization of tasks and eliminated the needs for secretaries.  These are just examples of the disruptions that occurred and there were certainly many more.

And of course, there were also great new opportunities, especially for those who understood the technologies and created their own businesses. In the Second Industrial Revolution we saw the rise of the likes of Andrew Carnegie, Henry Ford, JP Morgan, Thomas Edison and many others. With the Third Industrial Revolution we have Steve Jobs, Bill Gates, Larry Ellison and many others. 

“With disruption comes opportunity to great personal achievement and wealth creation. It can also leave you behind if you don’t keep up.”

What is the Fourth Industrial Revolution?

Today we’re seeing the early developments, and a lot of hype, around new technologies from artificial intelligence to genomics, alternative energy sources and energy storage, new materials, augmented and virtual reality, drones, autonomous vehicles, blockchain and cryptocurrencies, and even cyber-human connectivity. But it’s not just these technologies by themselves that are creating the revolution; it’s how they are also combined and reshaping the way we think about and conduct business and live our lives. It’s important to note that industrial revolutions take some time to fully work through, typically around 40 years.

From all of these advances there are great opportunities to learn new skills, become more productive. Even starting your own business is easier than ever. Having learned from past industrial revolutions entrepreneurs, venture capitalists and corporations are intentionally looking for ways to create disruptive technologies and combine technologies in disruptive ways.  It is critical to understand this for your career and financial well-being, so you can both take advantage of opportunities as well as avoid being left behind.  

“Understand there are people developing products that are intended to either replace your job or put the company you work for out of business. You can either join them, ignore them or fight them.”

How Will the Fourth Industrial Revolution Impact You?

While the details will vary from person to person and with the industrial revolution just starting there is much we can’t even imagine yet. Still, there are some clear directions which you should know and being taking steps today to prepare for – prepare to take advantage of opportunities and prepare to avoid being left behind.

“Would you rather take a chance on riding the wave of technology to success or ignoring it for the status quo and risk being left behind?”

 

Live longer and healthier: Perhaps the most significant and underappreciated change from the industrial revolution will be that you will likely live much longer and spend most of that time more active and healthier than previous generations. From genomics, lab grown organs, and smart cities life expectancy is expected to continue increasing, and very possibly exponentially. This is critical not only for retirement planning but also finding purpose and deciding what to do with your life. In a recent AARP sponsored conference, I attended it was eye opening to see how little consideration we all give to our life in our 80s and beyond aside from “grandchildren”.  What will you do with your life from age 65 to 110?

Investment changes: One thing to be certain of is new companies in new industries will be created and companies you’ve long known will fade away. Both will impact investments you have, whether they are directly stocks or through mutual funds and ETFs.  New financial products will also be created, perhaps even based on cryptocurrencies or tokens. Regardless, you want to develop personal risk management strategy for dealing with companies on the rise and fading away.   

Career changes: In terms of your career you will need to be ready for change.  The company you work for may become irrelevant, outdated or unable to keep up and go out of business as a result. At the same time, new fast-growing companies in new industries or using different business models or process will rise up. You need to be skilled up, aware of the trends and ready to make a move. At the same time technology will increasingly be making its way into to workplace. Whether its AI or AR or any of the myriad of new and developing technologies, you will be expected to use them to increase your productivity.

How you buy things: Already we are seeing hints of what’s to come changing the way we buy products.  From Amazon Go’s cashierless store to paying with smartphone apps to voice activated digital assistants to smart refrigerators that automatically decide it’s time to order milk to be delivered by drone. We haven’t seen changes like this since the advent of credit cards, ATMs and direct deposit. Not everyone made those transitions well or even at all.

Of course, this is just the tip of the iceberg. There is much more to come that we can’t see or even imagine from our perspective at this time. Join our Facebook Community, Future Proofing You,  to share your thoughts, observations, concerns and to ask or answer questions and share.

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About the Author

Larry Boyer, CBE, ACC helps people and businesses prepare for the changing and evolving economy of the 21st Century. As a recognized leader in advanced analytics, finance & economics, future technologies and personal development. He speaks, writes and consults on these topics and their impacts from a high level bringing them down to a more personal level where you can take action. His book The Robot In the Next Cubicle: What You Need to Know to Adapt and Succeed in the Automation Age is available for purchases where ever you like to buy books.

 

 

 

The post The Fourth Industrial Revolution And You: What To Expect appeared first on Success Rockets.

An Easy Leadership Upgrade: Learning to Listen

You’re probably think you already know how to listen. I thought that. Most people I’ve met have thought that same. Afterall, what’s more basic than listening? You’ve been listening since before you could talk, right? You’ve heard all about active listening and you’ve got that covered, right?

Even if you think you know it all in theory, are you really doing it?

Perhaps you've heard the story of the manager who was shocked and disappointed to learn a key employee was leaving. Maybe it’s even happened to you. When asking a fellow worker "Why didn't she say she was unhappy?" the coworker responded: "She did."

Feedback surveys often reveal that managers and leaders believe they are much better listeners than their teams say. Managers may hear words coming out of their employee's mouth, but are they really hearing, understanding and internalizing what the employee is saying? Have you communicated that you understand what has been said and what, if any, actions you will take? Do you follow up? 

Feeling valued creates a deeper level of trust and security at work, which frees us to spend less energy seeking and defending our value, and more energy creating it. In a world in which our attention is increasingly under siege, better focus makes it possible get more work done, in less time, at a higher level of quality. – Tony Schwartz and Christine Porath in Harvard Business Review

Earlier this year a Gallop poll revealed that yet again 66% of employees are not engaged or actively disengaged at work. If you have 3 people reporting to you, only one is actually engaged and the other two are not. What is the source of this disengagement? Frequently the answer is the employee's direct manager, and particularly not feeling valued or respected. Often the manager finds this perplexing believing he is showing his team how he values them through performance evaluations, perhaps a spot bonus or a nomination to be the "Star of the Month". These are all fleeting, impersonal symbols that while they feel good for the moment leave the employee hungering for something more substantial. 

One of the most sincere forms of respect is actually listening to what another has to say. – Bryant H. McGill 

Listening sounds easy, but it is not. Think about it a moment, what is listen? 

Three Types of Listening

Level 1 – Subjective Listening: You relate what you are hearing to yourself and your experiences. When you are using Level 1 listening you will respond by relating back one of your own similar experiences. When you do this you are not giving your full attention to the speaker because you are busy coming up with your own response and reliving your experience. You may feel it's similar to what the speaker's experience is, but it rarely is. As a result the person speaking rarely feels connected or valued by the listener. 

Level 2- Objective Listening: Just the facts. You hear facts and can relate them back to the speaker. There are no thoughts about how your experience and how it relates to the speaker. Objective listening is more engaging because you are not filtering the other person's experience through your own and as a result can convey what the other is saying, at least superficially. Objectively listening is connecting facts but not emotion. Traditionally taught active listening is Level 2 Listening.

Level 3 – Intuitive Listening: Intuitive listening is about understanding the whole message and context, beyond just the words. The intuitive listener pays as much attention to what's not being said as what is being said – body language, expressiveness, tone of voice, and emotion. This most powerful form of listening allows you, the listener, to emotionally connect with the speaker. Rather than repeat the fact, the listener conveys understanding by going beyond paraphrasing to include a more broad and full understanding of the speaker's situation and emotions. 

The most important thing in communication is hearing what isn't said. – Peter Drucker

What people want most from their leaders is to feel that the leader understand them, their circumstances and their opinions. When an employee believes their manager understands them and appreciates their point of view or situation they will most often accept your decisions and directions, even if they are contrary to or different from what they are seeking. A leader who listens well, connects and is empathetic will have the respect and following of his/her team. A leader who is an effective listener will ensure that the people he/she disagrees with feel heard and understood, so that if thought they disagree with a decision they will respect the decision because they were given sufficient consideration.  

Quality Listening is Under Attack

I was recently watching a TED talk by Julian Treasure about listening.  What caught my attention most however was the notion that listening is under attack in our society. Think about it for a moment – do you really know what is being said in the lyrics of a song you like to sing along to?  

Another point to consider – how closely do you need to listen if you can record and review a presentation over and over? Do you really pay attention the first time? As a leader how closely do you pay attention to what's being said if you know someone else is taking notes?  

5 Ways to Be a Better Listener

In his TED talk Julian Treasure shares 5 ways to be a better listener. These are some listening exercises you can practice every day. 

Silence: Give your ears a break and spend 3 minutes per day in silence (or as quiet as you can find). Let your mind reset so you can hear and notice the subtle sounds around you. 


The Mixer: How many different sounds and conversations can you pick out in a noisy environment? Take time to focus for a time on each one, tuning out the others. 


Savoring: Sit back and enjoy listening to some mundane, everyday sounds. The washing machine, dishwasher, the neighbor's leaf blower. What do you notice about the sounds? Are there any patterns that emerge?


Listening Positions: Change your listening position to what's appropriate to what you are listening to. – active/passive


RASA: This is an acronym for Receive, Appreciate, Summarize, Ask. When you listen you Receive the information (words, intonation, body language). While you are listening you can Appreciate and acknowledge what is being said. When you are done listening you then Summarize what you heard and Ask if you heard it right.

As a better listener your team and leaders will appreciate you more. You will be more caring and emphatic People will trust you more and follow you because of the dynamic you have created with them because you know them.

Julian Treasure's TED Talk is less than 8 minutes and you can watch it now. 

 

What can you do today to start listening better?

Contact us today to learn how to become a better listener and further develop your leadership skills. 

The post An Easy Leadership Upgrade: Learning to Listen appeared first on Success Rockets.

Five Ways Defining Your Personal Values Will Make You Successful

In everyday life we tend to use the term values rather loosely. Generally, we mean something that is of importance in some way. Often there is a moral or social norm that raises some values over the other in importance. But if we’re honest, there is a good chance we don’t really living our lives in accordance to these values. What we don’t realize is we have a different set of values, values we may not even be aware of, that cause internal conflict and get in the way of our success.

Such a casual approach to understanding our own personal values, however, results in conflicting priorities, actions and beliefs, all of which get in the way of your success. If you want to be a high achiever, you need to be working as effectively and efficiently as you call all the time. And while there are many tools, tips and tricks you can use the most fundamental is getting clear on what your personal core values are.  

What happens when your values are clear to you? The results can be astounding and build over time. They include:    

Fast Decision Making: When you know what’s important to you, you know what action to take and what choices to make. No reason to agonize.


Increasing Self-Confidence: When you know what you stand you no longer fear the judgement of others.


Increasing Productivity: You are motivated more than ever to achieve your goals. Distractions go away because they aren’t aligned with your priorities.


Reducing Conflict & Improving Relationships: Virtually all conflict is about competing values. When you understand your values, you know what you are fighting for. You can articulate that. You can also work to understand the other person’s values and then find common ground.


Building Your Brand: Clear values are brand distinguishers. They become even more powerful when you are living those values and it is easy for everyone to see.

Bonus point:  When you know and live your values you create a virtuous cycle of reinforcement. It gets easier and easer for you to align and live with those values AND you start receiving feedback and encouragement from others about those values and the life you are living.

How to Get Clear on Your Values

When working with people to get clear on their values we start with simply listing what you think your values are right now. Make your list of about 10 values and the rank order them.

Once you have your list of values, write a definition of each. Take some time and make as detailed of a definition as you can about what you specifically mean by that value. This is not the time for a 5-word definition. Be as clear as you can without worrying about being perfect. Whether it is a couple sentences or a paragraph, this is just for you so that you are clear by what you mean.  

At this point you may be noticing that some of your values are the same or rather similar. See if you can consolidate them. Pick which word and which definition resonates with you the most and refine the definition. At this time you may also notice that some values aren’t really that important to you and you can drop them. Others might be more important than you thought. Drop the unimportant ones, rearrange the order so your top value, the value you would choose if two were competing against each other, is at the top.

Review your values each morning as a reminder for how you want to behave and choose during the day. In the evening, review your day and evaluate how you did. Did you make choices that conflict with your values? If so, why did you do that? Is there a more important value at play?

If you decide you don’t like your values, say you are choosing comfort over accomplishment, you can change them. You just have to start living in accordance with the new values. Over the course of month if you really live according to the new value it will become second nature to you.

Good luck!

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About the Author

Larry Boyer, CBE, ACC helps people and businesses prepare for the changing and evolving economy of the 21st Century. As a recognized leader in advanced analytics, finance & economics, future technologies and personal development. He speaks, writes and consults on these topics and their impacts from a high level bringing them down to a more personal level where you can take action. His book The Robot In the Next Cubicle: What You Need to Know to Adapt and Succeed in the Automation Age is available for preorder.

The post Five Ways Defining Your Personal Values Will Make You Successful appeared first on Success Rockets.

AI, Robots, and Automation – What Do They Mean For You

There is rightfully at lot of excitement about the amazing things AI, robots and other forms of automation can do. Whether it’s the simple novelty of artificial intelligence studying the works of Bach and composing a new Bach-like symphony or something more serious like AI diagnosing medical conditions and exoskeletons to help us lift and avoid injury or even walk again , robots and other automation tools continue to capture our attention leaving us wondering,  “what’s next?”

It’s a question we’ve both been fascinated by and feared for centuries and across cultures around the world. A third century Chinese text know as the Lei Zi tells of an engineer who impressed King Mu of Zhou of a mechanical human that walked, moved its head and even sang. Liurparnd of Cremona reported of seeing mechanical lions, trees and birds on his visit to Constantinople in 949 CE. In the mid-1500s Juanelo Turriano created a mechanical monk raised it arms, turned its head, moved its mouth and more all from a wound spring. And there was the Golden Age of Automata from 1848-1914 that saw the rise of small, family owned businesses that used the newly developed mass production techniques to create autonomous toys. Fast forward to today and we have increasingly realistic robots and AI like Sophia®, who became the first robotic citizen of a country, Pepper®, the Jeopardy® winning Watson®, AlphaGo® and many others.

Automation and You

As technology advances, AI and robots are increasingly moving from curiosity and entertainment to practical tools capable of working, analyzing and creating. In the past we’ve seen robots and automation take jobs in manufacturing plants and some office jobs like secretaries, phone operators and stenographers. But today we’re seeing AI make in roads in claims processing, analytics, paralegals, lawyers, sales and marketing and more. Areas where higher levels of education and skills are needed.   

AI is capable of ingesting vast volumes of data, recognizing patterns and making decisions all at a scale beyond human abilities. Of course, there is a lot of discussion at conferences, in the media, academic circles and in the corporate board rooms and government halls. But these discussions focus on a high-level view point – that of “the workforce”, “employees” or even “humans.” As executives, policy makers and academics discuss the broad implications of AI and robots in the workplace, little attention is paid to the specifics – the individual people and what will happen to them.

Aside from burger flipping, how many specific jobs have you heard people talk about robots replacing people? Even then, how many CEOs have you heard tell their workforce – “In one year we will be replacing everyone who flips burgers with a robot. This will open new opportunities in online marketing. If you are interested in this work, here is a training course you can take to start learning this new skill set.”?

You’re On Your Own

With decision makers focused on the big picture, where does that leave you?  If you’re lucky, you work for a company that is transparent about the transformations it is undergoing, the opportunities and threats it faces, and where you fit in with all of it. AT&T’s chairman and CEO, Randall Stephenson, made such a push back in 2016.

“There is a need to retool yourself, and you should not expect to stop,” Stephenson said. People who do not spend five to 10 hours a week in online learning “will obsolete themselves with the technology.”(1)

And John Cryan, the now former CEO of Deutsche Bank, said in 2017 "We employ 97,000 people. Most big peers have more like half that number."(2) There are hints that the new CEO, Christian Sewing, is looking to shed over 10,000 jobs by 2020(3).

These are just the responses to new technologies forcing the digital transformation. Changes in the economy, shifting political preferences and trade-wars, mergers and acquisitions and even changes in your health can require you to retool and rethink your career as well.

Ultimately the message you hear coming form corporate leaders is “you are in charge of your career.” Perhaps you’ve heard this yourself.

But do you really know how?  How do you keep track of trends affecting your job and company? How do you know which direction to take your career? Do you have the time and resources collect all of this information, analyze it and develop a plan?

Taking Care of the Business of You

Certainly you’ve seen executives are spending considerable resources preparing their companies for transformation. The CEO sets the goals and direction. Information about the market place is collected by sales and marketing teams. New technologies are explored, tested and deployed by the IT teams. Investment spending and costs are managed by the finance functions. The Chief Economist keeps a look out for economic and policy trends. The strategists take in all of the information and make a plan for achieving the CEO’s goals. And operations and the business lines focus on making the transformation happen. What can you learn from all of that?

You’ve probably heard other say something like “You are the CEO of Your Life”.  The fact of the matter is CEOs don’t successfully lead their company at any time, let along through a major transformation, all by themselves. How can you possibly successfully transformation yourself for the future of work all by yourself? You need to first recognize you need to be more than the CEO of Your Life and then you need to figure out how to get all of this other work done without getting overwhelmed and busting your budget.

Sources:

(1) Gearing Up for the Cloud, AT&T Tells Its Workers: Adapt, or Else, Quentin Hardy, February 13, 2016.

(2) Deutsche Bank chief hints at thousands of job losses, Laura Noonan, Patrick Jenkins and Olaf Storbeck, November 8, 2017

(3) Deutsche Bank Plans to Cut U.S. Jobs by Over 10%, Steven Arons and William Canny, April 26, 2018.

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About the Author

Larry Boyer, CBE, ACC helps people and businesses prepare for the changing and evolving economy of the 21st Century. As a recognized leader in advanced analytics, finance & economics, future technologies and personal development. He speaks, writes and consults on these topics and their impacts from a high level bringing them down to a more personal level where you can take action. His book The Robot In the Next Cubicle: What You Need to Know to Adapt and Succeed in the Automation Age is available for preorder.

The post AI, Robots, and Automation – What Do They Mean For You appeared first on Success Rockets.

Are You Ready for the Fourth Industrial Revolution?

Self-Driving Cars. Quantum Computing. Synthetic biology. Youth Unemployment & the Lost Generation. Stagnant Wages. The Skills Gap. Billion dollar Start-Ups. Mass Layoffs. The Sharing Economy. Gig Economy. Untold opportunity or economic collapse. It’s enough to make your head spin!

We are living in a time of unparalleled change and contradictions. At the same time we have amazing changes technology and business models that are providing opportunities and riches for some and leaving others behind, frustrated, confused and angry.

Not since the mid-1800s have we seen such a radical change in labor markets, business models and political systems. During that period Charles Dickens famously captured the dichotomy of the times that seems to fit just as well today.

“It was the best of time, it was the worst of times . . . it was the spring of hope, it was the winter of despair, we had everything before us, we had nothing before us…” ~Charles Dickens, A Tale of Two Cities

Looking back it is relatively easy to see the effects of the Industrial Revolution playing out. The entrepreneurial craftsmen, farmers and laborers being displaced by machines and rote, repeatable processes. People losing their livelihoods, for some a lifetime in the making. Others making a fortune adapting as they adapted their skills to work with the new and unknown technologies and business models. While some were the capitalists who would build massive fortunes, others were ordinary workers who could adapt, see and take advantage of new opportunities they saw.

Today we are in the early stages of what Klaus Schwab, Founder and Executive Chairman, World Economic Forum, has termed the Fourth Industrial Revolution. While the term is not without controversy it is, nonetheless, a useful framework to look at what is happening in the economy so that we can develop a framework that our financial future will depend on.

What is a “Revolution?”
A “Revolution” is a disruptive shift in the way people live and the way businesses function. A revolution touches virtually every sector of the economy. A revolution is the result of innovations that ripple through and impact other business sectors. Some people and businesses adapt, others fail. New, previously unimaginable, businesses are created. Along with these changes entire job classes are created and destroyed.

These changes happen slowly, not overnight. It takes decades of inventions and time to spread across industries. Little by little the innovations occur; transforming industries and jobs and the products and services we buy as consumers. While the revolution is happening there is little overall economic and wage growth but a lot of activity with winners and losers. Once the dust settles it is full speed ahead in the new paradigm. (2)

Lessons From The First Industrial Revolution
The Industrial Revolution was a 60-80 year economic transform from about 1760-1820. New technologies from precision machinery (interchangeable parts) to power sources (steam engine) to transportation and raw materials extraction and refining are some of the changes that occurred. Any one of these innovations by itself was significant. However, in concert they catapulted development. This period saw the transition from human labor to machine labor. Highly skilled, artisan labor was replaced by low skilled labor. For two or three generations of workers there was uncertainty and disruption while the revolution evolved and worked its way through the economy.

The entire labor market was turned upside down. The career path from apprentice to master was destroyed. Many small businesses could no longer compete with the economies of scale offered by mass production. For those who could find work there was an increase in the standard of living. For the majority of the population, however, living standards dropped – until the revolution was well on the way to completion and workers adapted to the new economic reality.

The Industrial Revolution saw the rise of the Luddites who violently fought for the status quo and against the machines that were taking their jobs away. While the movement was supposed inspired by Englishman Ned Ludd’s smashing of textile stocking frames in 1779 it did take on a life of its own. Protests and clashes between workers, capitalists and the government occurred sporadically through the early 1800s in England across industries. The British Parliament even made “machine breaking” a capital offense (3).

The Fourth Industrial Revolution Emerges
What we can start to see now is the emergence of new technologies, processes and business models that are in their infancy of creating disruption. The Internet of Things, autonomous vehicles, 3-D printing, new materials and the Sharing Economy. We don’t yet know how these new technologies will ultimately be used and what new opportunities they well open up. We also know that existing technologies are also rapidly evolving – artificial intelligence, quantum computing, and genetics and so on. As all of this information and technology comes together they will form building blocks for new products and technologies that combine them. We saw this evolution happen in the previous Industrial Revolutions and there is every reason to believe the same will happen again. In will only be in hindsight that it will all be clear. What we do know is that during this process those working at the leading edge have opportunities ahead while those who hold on to current technologies and practices are often left behind.

In a November 12, 2015 speech, Andy Haldane, the Bank of England’s Chief Economist, indicated that 15 million jobs in the UK and about 80 million jobs in the US are at risk of being replaced by robots and (4). The chart below shows the estimated likelihood that a job in a particular industry will be replaced by automation (robots, automation, AI, algorithms, etc.).

Many others are starting to raise the alarm about this problem as well. Martin Ford, author of Rise of the Robots: Technology and the Threat of a Jobless Future recently wrote about it in a LinkedIn post “This isn’t crying wolf: Machines will take white-collar jobs during the next administration” .

Where Do We Go From Here?
Ultimately the Luddites could not stop the technological revolution that was occurring. Similarly, today there are many who resist or turn a blind eye to the changes that are occurring right around us. Driverless cars and trucks are on the roads around the world today and their commercial use will only increase. In some locations you can go to a restaurant, order your meal on a tablet computer and someone will bring it out. Soon it may be a robot. Professional workers too are being replaced. Work that may have taken a team of 10 to do a few years ago can now be done by a single person.

Beyond that, large businesses are under attack from alternative, disruptive business models in the sharing economy. How long before a hotel chain goes bankrupt (and thousands lose their jobs) because of people sharing their homes? Those who learn the technology and adapt can benefit. Others will lose out.

“The key to successfully navigating this transition is more than simply learning new skills. It is knowing yourself and the unique value you have to offer any potential customer or employer. “ ~ Larry Boyer

Success through this transition is the essence of deep personal branding combined with business skills and discipline. This combination will enable you to develop a career management strategy that will help you navigate these changes and secure your financial future.


Acknowledgements:

(1) “The Fourth Industrial Revolution: what it means, how to respond” Klaus Schwab, Founder and Executive Chairman, World Economic Forum, 14 January 2016.

(2) “The Analytics Revolution Is Here. Is Your Career Ready?” Larry Boyer, President and Founder, Success Rockets, 3 November 2014.

(3) Luddite: https://en.wikipedia.org/wiki/Luddite , Wikipedia.

(4) “Labour’s Share” speech by Andy Haldane, Chief Economist, Bank of England, 12 November 2015.

___________________________________________The Robot in the Next Cubicle: What You Need to Know to Adapt and Succeed in the Automation Age

Five Unexpected Tips to Increase Your Productivity

With over 180 million hits on productivity tips you’d think you have heard it all by now. Maybe or maybe not.  Beyond just the surface level productivity hacks you’ve seen before is doing something about the root cause of what getting in the way of maximizing your productivity. Sure, an app might help you save a little time, but it’s not going to have a meaningful, lasting impact.  Addressing the root causes will increase your mental and emotional engagement, producing more physical results.  

Understanding why productivity hacks work is also important. When you understand what is happening, you can better focus your attention on making the most of the what you’ve learned, and you are more likely to believe it can make a difference. Each of the five productivity tips below comes with a brief explanation of why it works, as well.

Five Unexpected Productivity Tips

Energy Leadership: When it comes to productivity, how you see the situation and yourself in relation to it can have a huge impact on your productivity level. If you feel you have no control of the situation – I just have to power through and get it done – how productive will you be? What causes your procrastination? Energy Leadership, a concepted created by Bruce Schneider, that helps us understand how we see the world and other alternative ways of looking at the same situations. There’s an emotional intelligence component to it. The Energy Leadership Index Assessment tell you want your default tendencies are so that you can work on increasing your awareness in all situations and respond differently, in a more productive way.

Get it off your chest: A you “sucking it up?” Stop. A huge hit to productivity is anything that is draining your emotional energy. Problems at home. Problems with the boss. Problems with coworkers. Money problems. Whether you need to talk with a friend, a counselor or just write a letter you will never send, do it. There is no reason to use your body as a pressure cooker and your brain as a regulator to contain your feelings of stress, anger, or worry. But before blowing up at someone, take the time to just let it out in an appropriate, perhaps even anonymous way. In addition to getting rid of an immediate productivity block you may also come up with a solution or more even keeled way to handle whatever problem you are facing.  

Get it out of your mind: A lot of people, myself included, like to keep tasks, to do lists, and much more in our mind. This is a distraction for you mind as it gets in the way of your ability to focus on the task at hand. To make matters worse, as you get engaged in what you’re are working on you are more likely to forget what else you were going to do, making you complete unproductive for those tasks. No matter how good you think your memory is or important the task is that you “can’t possibly forget” take the minute or two it takes to write down whatever is on your mind. This will free your mind to focus on what you’re are working on.

Understand your values: Values reflect your priorities. We waste an incredible amount of time figuring out what’s important to us or work on tasks that are less valuable. When you are clear on your values – what is truly important to you, you can quickly sort out what needs to get done and what doesn’t need to get done. It can also help greatly with prioritization when one task is not dependent on another. Because you know that you are working on a task that is important to you, your level of engagement will increase, even when it’s just a step toward your goals.

 

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About the Author

Larry Boyer, CBE, ACC helps people and businesses prepare for the changing and evolving economy of the 21st Century. As a recognized leader in advanced analytics, finance & economics, future technologies and personal development he speaks, writes and consults on these topics and their impacts on businesses and people. His book The Robot In the Next Cubicle: What You Need to Know to Adapt and Succeed in the Automation Age is available for preorder.

The post Five Unexpected Tips to Increase Your Productivity appeared first on Success Rockets.

Is Your Industry Under Threat? Will You Lose Your Job?

We get very comfortable with our job as well as the company we work for.It only natural that we get comfortable over time. We also get increasingly confident in our abilites and ability to get through tough times. That can be an asset up to a point, the point to where we ignore or misinterpret trends. Even if we see macrotrends like AI, robotics and automation reshaping the economy we’re take a look to see how the impacts will ripple their way to us. The technological changes that are driving the Fourth Industrial Revolution are so widespread that they are sure to directly or indirectly impact virtually every industry. The question for you is: How can I take advantage of the trends or at least not be run over by them?

Understand the Lay of the Land

The first step is to identify the changes that are happening and how they might impact your industry, your company and your job.  The impacts might directly impact your work if you have to learn a new technology, but it may also indirectly impact your work by affecting your company’s competitiveness. An example of the latter would be if you are a sales clerk at Walmart but block chain, driverless delivery trucks could impact the company’s supply chain and profitability. A truck driver would directly be impacted and the sales clerk indirectly.

There are far too many new, potentially pathbreaking technologies to list them all.  Here are a few of them and some of the areas they can impact. Use these examples to consider how they may impact you and your work, directly and indirectly.

Artificial Intelligence: Assist with research and analysis (legal, medical, etc.), decision making, situational assessments.

Blockchain: identification and authentication, supply chain and chain of custody, cybersecurity, finance, internet of things, smart devices, transaction recording and auditing

Drones: Access to remote or difficult to get to areas, lifesaving, safety, photography

Virtual Reality: Simulations for training, assessing skills (technical and interpersonal), remote or pre-construction real estate walk throughs

Augmented reality/Mixed reality: retails sales

New Materials: Graphene is an example, stronger, lighter, cheaper building materials for any use from air travel to buildings to personal devices, even concrete

Robotics/Exoskeltons: Automate routine tasks, perform dangerous tasks or provide additional support to humans to prevent injury

Life Sciences: Radical extension of life an it’s quality, cure of disease and disorders.

Each of these new technologies alone can result in significant changes in their industry. What makes them revolution is both the large number of breakthrough technologies happening at once and their ability to be combined across functions and industries to magnify their impact.

Line of Sight

Even without an industrial revolution most employees struggle with understanding how their specific work flows to make a difference for the company. Even more so they fail to see how their personal vision and goals are aligned with the company’s vision beyond a paycheck and profits.

If you’re a business leader or executive you need to understand this landscape, the impacts on your business and your employees. Where are tomorrow’s advantages and threats coming from? Which employees are most vulnerable to the change? Can you do something to retool them to take advantage of the opportunities that will benefit both the company and them employee? If not, can you share information about what’s happening, so they can prepare for the changes ahead?

If you’re an employee, it is in your interest to learn and figure this out. Your employer may or may not be sharing industry insights. No matter what you need to understand what’s happening in the greater business world, so you can adapt, stay relevant and capitalize on the new opportunities that are coming. If you don’t know or understand the technology you won’t be able to make use of it and could find yourself unemployed as a result.

How to keep up?

Of course you can follow the technology news, industry association publications and do your own research. However, it’s difficult to keep up with all of the developments yourself. Companies have entire teams across functions that follow industry trends, competitors, new technologies and so on. To bring that advantage to you I created open Facebook Community at www.futureproofingyou.com, where member share news, discuss the implications of these developments and share any concerns.  No one person can do all of this, but together we can help each other secure a better, more secure future.

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About the Author

Larry Boyer, CBE, ACC helps people and businesses prepare for the changing and evolving economy of the 21st Century. As a recognized leader in advanced analytics, finance & economics, future technologies and personal development he speaks, writes and consults on these topics and their impacts on businesses and people. His book The Robot In the Next Cubicle: What You Need to Know to Adapt and Succeed in the Automation Age is available for preorder.

Join me for a special webinar on July 10th at 12pm Eastern "How to Build Your Brand in the Age of Artificial Intelligence

The post Is Your Industry Under Threat? Will You Lose Your Job? appeared first on Success Rockets.

How Understanding Your Values Can Make You More Confident

No matter how confident you feel, there is always something that can shake that confidence. And if you don’t feel confident there’s always work you can do. Often we’re told that to boost confidence we should learn more. Become the expert. The smartest person in the room. That often sends us on a wild goose chase of never ending learning and, along with it, never ending avoiding taking actions or making commitments. While it’s certainly true that building knowledge or skills can boost your confidence, that’s usually not enough, especially if you are in a leadership role or are an entrepreneur. This is where your personal values come in. 

What Is Confidence?

Everyone has their own, personal, definition of confidence. Often that definition is vague and we don’t give a lot of time and effort to really specify it for ourselves. So naturally, the first step to feeling confident is having a clear understanding to what being confident means to you.

For starters, you can consider this definition, some variation or make your own

“Confidence is a state of being expressed as a feeling of safety derived from the faith or belief in yourself to engage in an activity at a level that you define as competent.”

This definition of confidence is different than most that you will find. Consider what seems to fit and not fit when thinking of your own definition. There are a couple of key points to notice about what confidence really is. First, confidence is a feeling. It's not a characteristic or a skill. People with confidence may act a certain way, but that is the outward expression of what comes from the inward feeling. Second, this feeling is completely controlled by you. You determine what the level of competence is that is required to feel confident!  Let's look a little more at each of these components and see why they are so important.

Confidence is a state of being and a feeling.  It's important to realize confidence is a feeling you have because if you are not looking for the right thing you're unlikely to find it. In working with people I have often seen that people have a belief that confidence is a skill or a characteristic or even a state of being (He is confident, for example). These are close, but not quite accurate. And without an accurate picture it's difficult to recognize where we are confident and what we need to do to build confidence.  We need to know what we're looking for!

What Are Values?

Most of us have a vague understanding of what our values are and what exactly we mean by them. To the extent we do, rarely do we put them up against each other to really understand which values are the most important to us.

“Values are the operating principles that guide every decision you make.

In corporations, values guide how employees interact with each other and customers. Corporate value statements declare what is important to the company, what the company stands for. Similarly your personal values statement declares how you operate and what’s important to you. They describe your character both in and out of the office and don’t change whether you are at work or home.

Three Ways Values and Confidence Are Connected

Decision Making: You can make decisions faster and be more confident when you know and understand what is most important to you. There is no reason to question your judgment or spend forever looking for more information. You’ve already done the work that you will need to be confident in your decision.

Self-Image: Values are a core part of who we are and how we see ourselves. By getting clear on your values you gain clarity about who you are and what you stand for. You can understand what current values are undermining your self-image and build beliefs and habits to replace them.

Constructive/Destructive Behaviors: We are all subject to social pressures, some that help and support us and some that weaken or may even be destructive. When your values are clear you will seek out people and organizations that are in alignment with those values an either leave or seek to change those that do not align and have a negative impact on you.

Values and the Business of You

Understanding your personal values is the foundational element of creating the “Business of You.” Just like companies have values that define their culture and operating principles, your values do the same for you. They no matter what your career or life vision is, no matter what your skills and talents are, living and working in congruence with your values is critical for achieving the best you can. It is when you stop acting in line with your values that you run into trouble.  Learn more about the Business of You and how you can increase your confidence and success.

The post How Understanding Your Values Can Make You More Confident appeared first on Success Rockets.

How Your Personal Brand Can Save You In The Age of Automation

How do you compete with a robot? How do you compete with Artificial Intelligence? Machines are faster than you. They can access and analyze more information than you. They don’t rest, lose focus or take a break. In principle you could expand a machine’s capability has much as you wanted, while your own abilities are limited by your body and finite brain.  So how do you compete with a machine? How do you compete with all the other people looking at the same job you are? The answer lies in understanding what’s special about you and how you can bring value to your company and its customers. In other words, we’re talking about getting very clear about your personal brand.

What is your personal brand? 

Because personal branding is often maligned, I’ll start by saying your personal brand is not a dishonest depiction of you. While your personal brand is critical to marketing you, it is not a marketing ploy to deceive or manipulate your customers. Your personal brand is a concise way for people to know you.

Your brand is a reflection of your personal values (what's important to you), purpose or passions, mission, vision, your personality, skills and talents. It's about how you make others feel as a result of working with you. Your brand is about your genuine self.

In other words, your personal brand is the many things people think of when they think of you. Personal branding pioneer William Arruda defined it succinctly as “your Unique Promise of Value.”

As you can see, while we often think about branding in terms of the outward messaging, before that can happen there is the work of deeply understanding what it is you are branding, in this case, yourself.  Who are you? What makes you special? What impact do you want to have on the world? What are your motivating and burnout skills?

Because you don’t see others and they see you, when developing your personal brand it can help to get feedback from others, especially others who see you in different contexts, from your family and friends to colleagues, managers, team members and customers. The 360⁰ Reach Personal Branding Assessment is a simply and affordable way to get this feedback. The feedback can tell you if you’re on track or not as well as provide you with insights you may not have had before.

“When you know and live your personal brand you are living in alignment with your values, talents and skills and your performance sky rockets as a result.”

If you want to build your personal brand on your own, this personal brand checklist will help you focus on the areas you need to get more clarity on.   

Personal Brand Checklist

Values


Vision


Mission


Purpose


Motivating and Burnout Skills


Unique Promise of Value



Your Personal Brand In the Age of Automation

“The key to successfully navigating this transition is more than simply learning new skills. It is knowing yourself and the unique value you have to offer any potential customer or employer. “

Understanding what makes you unique and the value you can bring to others is not enough. You need to further develop and deepen your expertise and uniqueness, help others to understand it and focus on living your brand, at home and work. Since your personal brand is who you really are, there is no separate work you and home you.  You are the same person, focused on different activities, where ever you are.

For the time being, machines are being build that focus deeply on one particular problem or service. Google’s AlphaGo® robot offers an example. It has a very limited purpose, to play the game Go. In 2016, AlphaGo beat that year’s world champion Go player, Lee Sedol. The original AlphaGo system was designed by Google’s DeepMind® division and was programmed with not only game rules but also human expert input of around thirty million moves. Reigning champ Sedol was only able to win a single game out of five against the robot, which could accurately anticipate his moves 57 percent of the time. And that was just the start.

What’s important to see is that the machine is learning to “think” more like a human. The answer for you is not to think and act more like a machine. It’s not to simply add more functionality to yourself.

“Machines are being developed to be more human. To compete you must better understand what it is to be human. What it is to be you. To stay relevant you have to be better at being human.”

Where Do We Go From Here?

When you live you personal brand in everything you do you will find that more of more of what you want comes your way. You know which jobs and clients to accept and which to decline.  The path from where you are to where you want to be becomes clear. You can just walk over what once seemed like blocks to your success.

Success through this transition is the essence of deep personal branding combined with business skills and discipline. This combination will enable you to develop a career management strategy that will help you navigate these changes and secure your financial future. 

What are you doing today that brings value to someone else's life?

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About the Author

Larry Boyer, CBE, ACC helps people and businesses prepare for the changing and evolving economy of the 21st Century. As a recognized leader in advanced analytics, finance & economics, future technologies and personal development he speaks, writes, coaches and consults on these topics and their impacts on businesses and people. His book The Robot In the Next Cubicle: What You Need to Know to Adapt and Succeed in the Automation Age is available for preorder.

The post How Your Personal Brand Can Save You In The Age of Automation appeared first on Success Rockets.