2020/03/18 08:00:24

As we know, technological and cultural shifts are reshaping work, workers and workplaces. Traditional employment and workplace models are being replaced with the next generation of design concepts and technology to foster higher levels of engagement, collaboration and creativity.

Digital technology brings efficiencies but it also brings disruption and radically new ways of engaging and doing business, digital has the potential to uncover new value, create and redesign more jobs than those being lost and boost growth significantly. However, for countries like South Africa that are less prepared, digital may bring more job losses than gains—which will negatively impact the socio-economic wellbeing of individuals and the economy.

Unfortunately, as the Financial industry continues to change at an increasingly rapid pace, there are more questions than answers around the future of work. The re-skilling challenge is greater than we have ever seen in history and is approaching faster than any in the past. There is a need to assess each organization’s current talent pool and processes and determine what skills exist and what new skills will be required.

Digital Transformation and the Future of Work:

Digital disruption is the new reality in the banking ecosystem. And, while the increased adoption of AI and robots will not result in the elimination of every job, it is clear that most current jobs will change, requiring individuals at all levels of the financial institution to learn new skills. There are also jobs that could be completely displaced by advanced technology and automation.

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