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Critical Change Factors

1 The Fourth Industrial Revolution This century heralds major digital transformation and innovation, including robotics, automation and artificial intelligence (AI). This will dramatically change the nature and number of jobs available – 20% of jobs are at risk of automation. 2 Foundational Sector Disruption There is forecasted disruption in the sectors of energy, transport, food, information, and materials (Seba and Arbib, 2020) – for example, the scarcity of energy and water is set to increase by 50% and 40% respectively in 2030 (National Intelligence Council). There will be a rapid restructure in traditional energy industries and job creation in alternative energy/waste management. 3 Ageing Population Consequently, there will be increased pressure on economies and businesses, older workers will be forced to work for longer and upskill, and there will be increased need for automation, as well as pressure on pension costs. 4 Economic-Driven Inequality Economic and political shifts will result in redistribution of power, wealth, competition and opportunity on a global scale. 5 Rapid Urbanisation By 2030, the UN projects that 4.9 billion people will live in urban settings and by 2050, the world’s urban population will have increased by 72% ( UN Department of Economic and Social Affairs). 6 Talent Shortfalls and the “Great Resignation" A record 4.4 million people quit their jobs in September 2021 alone, for reasons including finding better job opportunities or higher pay. Organisations now need to offer more in order to hire the right people.

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