- As parents and business owners, we need to be proactively preparing for a new world.
- There are many challenges coming our way, especially in the areas of artificial Intelligence, or machine learning.
- Young people need to be flexible and adaptable as the workplace in 20 years’ time will be very different from today.
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The workplaces of today are vastly different from even 20 years ago. Not only are the skills required different, but the speed of change and adaptation needed is phenomenally different.
Younger people are very aware of this change and have very different expectations about working than their parents. Research presented by O2 late last year shows that while parents still hope for traditional careers for their children, children prefer technology-focused jobs.
Combine the changing expectations of employees with the increasing speed of technological change, and the business world becomes a very different landscape. As parents and business owners, we need to be proactively preparing for a new world.
Pinnacle Life is very aware that there’s no way we can keep up with the plethora of new technologies, so we hire experts to keep up with developments.
We see many challenges coming our way as technology change increases, especially in artificial intelligence, or machine learning. We’re already starting to see our actuaries getting concerned about this.
Technology can now do a lot of the “simple” actuarial work – leaving people to do the more complex work. But how do the up-and coming-actuaries learn how to do the complex work if they haven’t had to learn by doing the simple stuff?
New technologies for customers
We’re investigating technologies that use facial recognition, and moving all our digital marketing buying to a new “machine learning” platform that optimises our spend and performance. This will offer uninterrupted coverage versus the five days a week/eight hours a day we can currently monitor and manage it. We’re looking at chat-bots that will answer simple questions from customers, and are considering how social media platforms such as Facebook and YouTube are evolving so that we can make the most of any new innovations.
Our experts allow us to be a nimble and agile business that can meet the changes in the market quickly. In a similar way, young people need to develop their own ability and systems to be flexible and adaptable, as no matter what career path they choose, how we work and the jobs available in 20 years’ time will be vastly different from today.
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CA ANZ members and their families are entitled to additional benefits if they arrange cover with Pinnacle Life.