A.T. Kearney Releases New Global Trends Study: Resilience, Replacement, and Renewal
Climate change and the digital revolution are driving major shifts in infrastructure, commerce, and workforce health
WASHINGTON, Sept. 26, 2019 /PRNewswire/ -- Amid the dizzying challenges underway around the world today, the great battery revolution, the transition to a cashless economy, and the growing urgency to build climate-resilient infrastructure are among the trends that will shape the global outlook and operating environment through 2024. A new report by A.T. Kearney's Global Business Policy Council, Resilience, Replacement, and Renewal, addresses these issues, arguing that companies must improve resiliency to address the growing risks of climate change, leverage digital payment data in novel ways, re-skill employees for the future workforce, and recognize the risks that a loneliness epidemic pose to business operations.
Climate change is at the center of several of the trends identified in the report, as risks and opportunities stemming from more powerful and unpredictable weather events affect business and society in myriad ways. The report notes that global investments in resilient infrastructure could surpass half a trillion dollars in the next five years as measures are taken to protect against intense storms, sea level rises, and other manifestations of climate change. The authors also point out that breakthroughs in battery technology are allowing renewable energy sources to directly compete with fossil fuels, especially given growing public acceptance of the need to decarbonize the power sector.
The report also highlights how the ongoing digital revolution is compelling companies to rethink the needs of their workforces, from re-skilling to meet the demands of the Fourth Industrial Revolution to tackling the growing epidemic of loneliness that threatens labor productivity.
"Demographic changes, geopolitical tensions, and technological advancement are converging to make worker re-skilling essential to national competitiveness," says Paul A. Laudicina, founder and chairman of A.T. Kearney's Global Business Policy Council and co-author of the report. "And although unprecedented levels of connectivity are enabling remote work and global collaboration, loneliness and depression are also on the rise, resulting in mounting healthcare costs and lost productivity. Companies are promoting wellness to support not only their workforces, but also their bottom lines."
The fifth trend is the accelerating transition toward a cashless economy. The authors argue that we are likely to see the emergence of the first truly cashless society in the next five years.
"As digital payment methods proliferate around the world, the private sector must be prepared to leverage the explosion of associated data," argues Erik Peterson, managing director of the Global Business Policy Council and co-author of the study. "Companies are already using big data analytics and artificial intelligence to glean new insights about customers' patterns—and this trend will only grow as households and businesses around the world increasingly eschew cash."
Read the full report here.
About A.T. Kearney
A.T. Kearney is a leading global management consulting firm with offices in more than 40 countries. Since 1926, we have been trusted advisors to the world's foremost organizations. A.T. Kearney is a partner-owned firm, committed to helping clients achieve immediate impact and growing advantage on their most mission-critical issues.
To learn more about A.T. Kearney, please visit www.atkearney.com.
About the Global Business Policy Council
The Global Business Policy Council is a specialized foresight and strategic analysis unit within A.T. Kearney. Since its first CEO Retreat in 1992, the Council has been a strategic service for the world's top executives, government officials, and business-minded thought leaders. Through exclusive global forums, public-facing thought leadership, and advisory services, the Council helps to decipher sweeping geopolitical, economic, social, and technological changes and their effects on the global business environment. The Council consistently ranks near the top of the University of Pennsylvania's list of best private sector think tanks, and currently holds the 3rd spot globally.
To learn more about the Global Business Policy Council, visit https://www.atkearney.com/web/global-business-policy-council.
Media contacts:
Erin Weiss [email protected] +1 703-486-4737
SOURCE A.T. Kearney
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