It’s a view also supported by a recent study by Dell Technologies and Institute for the Future (IFTF), which looked at how emerging technologies will reshape how humans live and work - and what the implications of these changes are for businesses.
The study surveyed 3,800 business leaders from around the world on their expectations and preparedness for the future.
The report found as the age of the human-machine partnership continues to evolve, the most-valued skills in 2030 will be “creative drive, logic, emotional intelligence, judgement and technological literacy”.
To remain relevant it is critical for humans to acquire the skills machines cannot and for business leaders to provide an inclusive vision and facilitate a culture that will embed these qualities in their people.
Ultimately there will be winners and losers from the coming changes. The challenge for employees and companies (including banks) is to ensure they are highly adaptable, have the relevant skills and are willing and able to move faster than the competition in responding to the changing operating environment.
This will apply across the market for services and products companies deliver to their clients, and likewise, for the skills these companies will look for in employees.
As Nick van Dam, the Chief Learning Officer at McKinsey put it, it is the best time for people who “have the right skills and right education because there are tremendous opportunities… It’s also the worst time in history for people with ordinary skills and education”.
Charles Wachira is an Associate Director, Institutional at ANZ