You can’t choose whether or not the change happens, but you can control how you react to it.
Dr Stefan Hajkowicz, director of the CSIRO Data61 Insight Team, provides a snapshot of the upcoming report “Our Future World” which outlines the megatrends reshaping our global landscape.
The concept of ‘megatrends’ has become a powerful way of analysing change and exploring plausible futures. Megatrends develop gradually over years and decades, but eventually express themselves with an explosive force, which can reshape how businesses operate and succeed within a matter of months.
There is scope within our industry to make much better use of megatrends to proactively harness opportunities and mitigate risks. Stefan will be speaking in Melbourne on these megatrend at the APAL Industry Forum, on Monday 24 June.
Here are CSIRO’s megatrends reshaping the future operational landscape for organisations.
- More from less
According to data from the United Nations, by the year 2030, the world will welcome another one billion people. More people with a larger capacity to influence buying power, which will place greater pressure on scarce global food, water, mineral and energy resources.
The Food and Agriculture Organization of the United Nations estimates the global food system will be expected to increase production by as much as 35 per cent by 2030.
We will need to innovative and develop solutions to operate and deliver more-from-less resources, such as water, use alternate power methods and increase food production to accommodate the increasing Asian population.
- Planetary push back
On the global scale, climate change continues along a trajectory roughly consistent with scientific forecasts. In Australia, we can expect a more variable climate with annual average temperatures one degree Celsius warmer by 2030.
The agriculture industry is already vulnerable and is experiencing the new and increasing risks associated with environmental change that need solutions today, not when they happen.
- The silk highway
Asian economies are transitioning from an industrialisation phase into advanced-service sector economies with different demand profiles.
A global strategy can’t ignore the Asia-Pacific. This is where the action is in terms of wealth generation and the shifting focus of economic activity.
- On the move
People are moving more than ever before, making our economy, cities, and workforce very transitional.
Freight transport is also on the rise. As e-commerce and online deliveries expand, more parcels and packages need to be moved.
Data has also become more mobile. Digital data is migrating into the cloud from people’s hard drives and organisational servers. The quantity of data transmitted over the internet continues to rise exponentially.
- Digital immersion
As digital technology continues to improve, increasingly it will reshape how we do business, operate, jobs, learning, communication, and lifestyles for practically every profession, industry, demographic, and geographic region. The transformation of the economy will be significant.
Organisations soon won’t need a digital strategy because there won’t be any other type of strategy. Digital will play a significant role in boosting profits and raising prices.
- Intelligent machines
Breakthroughs in AI technology have elevated the capability of machine learning and robotics. Currently, 20 nations have AI strategies.
What was science fiction has become science fact; AI is a powerful technology and our industry needs to adapt to a new world of autonomous systems. If you don’t, your competitors will.
- Keeping it real
As we become immersed in the virtual world, the marginal value of the physical world will grow. The business models best incubated from digital disruption will involve real people, places, and physical experiences. Don’t lose sight of what the human customer wants in your digital transformation journey.
To hear Stephan speak on megatrends, book your place at the APAL Industry Forum on Monday 24 June.
Data61 releases its 2019 megatrends report, Our Future World, at the Vivid Sydney festival on 15 June. For more details on the report visit @Data61news on Twitter.