Trends Identified
C2B: Customer in the driver’s seat
Customers are reaping some of the rewards, and our notions of value delivery are changing. In the words of Alibaba’s Jack Ma, B2C is becoming “C2B,” as customers enjoy “free” goods and services, personalization, and variety.
2017
The global forces inspiring a new narrative of progress
McKinsey
Ecosystem revolution
The terms of competition are changing: as interconnected networks of partners, platforms, customers, and suppliers become more important, we are experiencing a business ecosystem revolution.
2017
The global forces inspiring a new narrative of progress
McKinsey
The dark side
Progress thrives on openness, and openness almost by definition means exposure. The Internet, for example, has brought critical dangers even as it has unleashed a business and social miracle. Everyday acts, such as connecting your phone to your car via Bluetooth, create vulnerabilities most of us do not yet consciously consider. The costs of fighting cyberthreats are rising into the trillions. Meanwhile, rogue states continue to frustrate the global community, and the strains from combating terrorism are reverberating worldwide. The number of terrorist incidents and casualties remains relatively small but has been rising; global terrorism death levels by the end of 2015 were more than five times higher than they were in 2001.
2017
The global forces inspiring a new narrative of progress
McKinsey
Middle-class progress
The rising tide of progress has not lifted all boats equally. Globalization and automation are polarizing the labor market, with more on the way as expanding machine-learning capabilities increase the automatability of a wide range of tasks in developed and emerging markets alike (Exhibit 8). As middle-wage workers are displaced, many are forced to “trade down,” reducing their income and putting pressure on existing lower wage workers. There is also widening earnings disparity. Workers with advanced degrees have generally seen their earnings rise, while wages for those with only high-school diplomas have stagnated, and wages for those who do not hold a high-school diploma have declined. Youth unemployment has reached 50 percent or more in several major developed economies
2017
The global forces inspiring a new narrative of progress
McKinsey
Economic experiments
Many growth policy tools have reached their limits. Central banks and governments in the developed world responded to the financial crisis by slashing interest rates , creating innovative facilities to try to keep the credit of lowing, and in some cases bailing out financial and nonfinancial players. Different mixes of austerity and structural reforms also were tried. When these proved insufficient to restart growth, leaders around the world turned to new, sometimes overlapping policy experiments, in search of a more effective solution.
2017
The global forces inspiring a new narrative of progress
McKinsey
Automation, employment and productivity
Automation is an idea that has inspired science fiction writers and futurologists for more than a century. Today it is no longer fiction, as companies increasingly use robots on production lines or algorithms to optimize their logistics, manage inventory, and carry out other core business functions. Technological advances are creating a new automation age in which ever-smarter and more flexible machines will be deployed on an ever-larger scale in the workplace. In reality, the process of automating tasks done by humans has been under way for centuries. What has perhaps changed is the pace and scope of what can be automated. It is a prospect that raises more questions than it answers. How will automation transform the workplace? What will be the implications for employment? And what is likely to be its impact both on productivity in the global economy and on employment?
2017
A future that works
McKinsey
Shift in Global Economic Power
The falling prices of crude oil, depreciation of strong currencies and rise of emerging economies poised challenges to the dominant powerhouses are some of the signs of global economic shift occurring presently.
2017
Science & Technology Foresight Malaysia
Malaysia, Academy of Sciences Malaysia
Emergence of Disruptive Technology
Disruptive technologies will continue to evolve in the coming decades. Hence, it is in the hands of policy makers, entrepreneurs, business leaders and citizens to maximise application of these technologies while dealing with the challenges.
2017
Science & Technology Foresight Malaysia
Malaysia, Academy of Sciences Malaysia
Rapid Urbanisation
By 2050, 66% of the global population is expected to be living in urban areas with nearly 90% of the increase concentrated in Asia and Africa. Increase of population density and activities in urban areas across the globe would significantly transform the structure of societies, distribution of resources and governance systems.
2017
Science & Technology Foresight Malaysia
Malaysia, Academy of Sciences Malaysia
Demographic change
The world population is expected to increase in the coming years with a demographic shift seen with number of seniors increasing as they have longer life expectancy and declining birth rates. The ageing population phenomenon is triggering one of the most significant social transformations
of the twenty- first century.
2017
Science & Technology Foresight Malaysia
Malaysia, Academy of Sciences Malaysia