Investing in the Workforce of Tomorrow [Podcast]
37m
·
LSE London Alumni Talks
·
LSEAAL Future of Work Podcast Series
Investing in the Workforce of Tomorrow - HR investment trends in AI and automation with Devyani Vashapayam (HR Tech Partnership)
In this podcast Devyani talks to us about the impact of COVID 19 on underlying trends in the HR space, working life and wider economy, the challenges and opportunities this presents for managers and employees, what future holds in this regard and her thoughts on key services gaps and opportunities in the market. We hope you enjoy the podcast.
1:12- Devyani introduces herself and HRTech Partnership, which connects corporates to AI based people tech startups.
2:45 - Coronavirus: Is this remote working mindset here to stay?
5:00 - The biggest management challenges with Covid:
- Phase 1: Software for collaboration, Virtual Assessments, Interviewing, Onboarding
- Phase 2 (in a couple months): Restructuring, and jobs going away
- Phase 3: Intentional planning for effective remote work
8:18 Some technologies that will rise post-covid
- Current crisis has accelerated the need for systems that facilitate collaboration
- Robotics and automation will also accelerate, with Ocado’s Andover warehouse having 80% robots.
11:15 “Technology is already there, it’s usage and commerciality is going to increase in pretty exponential fashion now”
12:20 The longer term impact on jobs: Some reports on Automation say that in 10 years, up to 50% of jobs could be impacted (not accounting for Covid) .
- 12:45 An Oil & Gas leader expects 1 in 2 jobs in the US to go away, and 30-40% of international jobs to be impacted
- 13:13 Retail and Hospitality could have a far bigger impact
- 13:25 The prospect of “Jobless Recovery” may be optimistic, as quite a few jobs may never come back.
14:05 - Sector specific example - Recruitment
- 14:40 Technology is growing in Facial recognition for interviewing and Virtual Assessment Centres
15:00 Middlemen in the recruitment agencies (research firms, agencies) may be hit by cost cutting
16:11 80% of workers were full time 10 years ago. Today this is 50-60%. Some futurists predicted that in 5 to 10 years it could come down to 30%.
19:40 Important skills for the future of work include Digital, Human, Creativity, and Physical. Also, AI will create new jobs than are destroyed.
20:02 Before Covid, Capita report: Algorithms and AI would create 133m jobs, but displace 75ml jobs resulting in a net gain requiring a different skill set.
25:05 Performance Management as a gap in the market
- One of HR Tech's investee companies - Setting regularly deliverables review, development management and team engagement
27:10 Don’t trap yourself by working with historic data! E.g. Performance review once a year.
28:30 Enabling difficult conversations with employees as a another gap in the market.
28:51 Helping managers empathise with users will be an underserved market need in a big data future
30:33 PWC study says the Transportation, Warehouse, Physical lifting, Manufacturing and routine admin sectors will be impacted in 10 years
31:28 Some countries will be more impacted by others, due to the proportion of job types. The UK is in the middle with a good proportion of service industries.
32:58 Countries might reinstate a social security safety net and increase worker protection again
34:25 What is the workforce of the future and working life going to look like in the post covid economy?
34:25 Post-Covid, I would expect smaller organisations, a bigger shift to digital skills, employee flexibility, more innovative organisations.
35:30 Which technology to invest in?
DISCLAIMER: This podcast is created by the London School of Economics Alumni Ass
The episode Investing in the Workforce of Tomorrow [Podcast] from the podcast LSE London Alumni Talks has a duration of
37:29. It was first published
More episodes from LSE London Alumni Talks
Social Science Superpowers - Capital, Technology and Societal Impact with Vanessa Viana, Global Managing Partner at Capital Lab Ventures
In this episode we speak to Vanessa Viana, Global Managing Partner at Capital Lab Ventures, a venture capital platform with a $100 million fund focussed on deep tech with offices in Sao Paolo and London.
Vanessa has over 18 years of experience in the fields of Private Equity, M&A and Strategic Consulting and is a founding member of the Brazilian chapter of the Association for Corporate Group (ACG- Brazil) and co-founder of Bradesco Private Equity acting as the General Partner of a $BRL 2 billion PE fund. Vanessa is a Chevening Scholar holding a Masters with distinction in Management of Information System and Digital Innovation from the LSE.
In this podcast we discuss Vanessa’s fascinating career journey leading to her current role, her perspectives on the power of capital to drive societal impact, new horizons of technological innovations and what it means for society as whole.
https://www.linkedin.com/in/vanessa-viana-56121722
https://capitallab-ventures.com/
The Next Green Revolution? Growing Sustainable Farming Practices w/Suhrid Patel, Co-Founder of Impagro
In this episode we speak to Suhrid Patel, Co-Founder of Impagro, an initiative focussed on building environmentally sustainable supply chains with India’s farmers.
Suhrid has over 10 years experience working with the agriculture sector in numerous countries across Asia, Africa and Europe. He has a masters degree in Development Management from the LSE and is a former Overseas Development Institute (ODI) Fellow.
In this podcast Suhrid discusses his journey from LSE student to agricultural entrepreneur, the environmental impact of our agricultural practices, how public and private actors influence food production across India, the UK and the US and what the future holds for sustainable farming and the work of Impagro in India. We hope you enjoy the podcast.
https://impagrofarming.com/
How to ride a Unicorn - Scalable Capital, Houghton Street Ventures & the entrepreneurial journey with Adam French
In this episode of LSE London Alumni Talks we speak to Adam French, former CEO of Scalable Capital, a digital wealth management unicorn and currently a partner at Houghton Street Ventures, an early stage venture capital firm based at the LSE.
In this podcast Adam speaks to us about his entrepreneurial journey from LSE to Goldman Sachs during the 2008 financial crisis to developing and growing Scalable Capital. Adam also gives us his reflection on the experiences that helped to shape his entrepreneurial skills and the vision for Houghton Street Ventures.
The Cultural Balance Sheet - Measuring and managing organisational culture with Cultarlytics with Michael Muthukrishna
In this podcast we speak to Michael Muthukrishna, Associate Professor of Economic Psychology at the LSE.
In this podcast Michael speaks to us about Culturalytics, his initiative that helps organisations to measure and manage organisational culture and how this can be used in strategic planning and policy. In this podcast Michael talks to us about what we mean by culture, useful ways to think about culture as well as unpacking these ideas in the context of the value they can bring to addressing a variety of scenarios including:
- mergers and acquisitions;
- corporate innovation; employee retention;
- policies around fake news and climate change.
Power is Knowledge - New frontiers of the expertise economy with Bilal Baloch of GlobalWonks
Today we speak to Bilal Baloch, Co-Founder and COO of GlobalWonks, a software company that uses artificial intelligence to deliver expert insights to organizations worldwide.
As well as his entrepreneurial ventures Bilal has an academic background with over over 10 years’ of experience in learning how decisions are made within organizations. Bilal completed his Bachelor’s at the LSE, holds a Master’s degree in international relations from the Fletcher School of Law and Diplomacy at Tufts University and a doctorate in political science from Oxford University. His new book, When Ideas Matter traces where ideas come from, how they are chosen, and when they are most salient for explaining political behaviour using case studies from India, Brazil, Turkey and Indonesia.
In this podcast Bilal discusses new paradigms of the knowledge economy, expertise and forecasting and the role of social sciences within the same as well the role of governance, democracy and free expression in developing and incubating knowledge economies. We hope you enjoy the podcast.
Check out the GlobalWonks platform here.
Bilal's new book "When Ideas Matter" is available to pre-order here and is due to be published on the 31 August 2021.