Highlights from the article:
- "...there’s a significant time lag, between the broad acceptance of major new transformative technologies and their long-term economic and productivity growth. "
- "The life cycle of such historically transformative technologies consists of two phases: investments and harvesting."
- "...transformative technologies require massive complementary investments, such as business process redesign, co-invention of new products and business models, and the re-skilling of the workforce.
- "...The more transformative the technologies, the longer it takes them to reach the harvesting phase when they’re widely embraced by companies and industries across the economy.
- "The time lags between the investment and harvesting phases are typically quite long."
- “Historically, the way people have adjusted to technological change is by acquiring new skills."
The modern skillsets will need to include the so-called "soft skills" and certain broad business skills that include the ability to:
- Align objectives from top to bottom
- Integrate diverse organizational functions to accomplish a goal
- Manage the activity to a successful conclusion, which includes measuring progress and results
An unspoken skill is being able to understand systems, a holistic perspective that understands how the different parts fit together.
