/nas/content/live/petracoach/wp-content/themes/petra/single.php

How to Thrive on the Other Side: A Take on the Future

Recently, Petra Coach presented a webinar, “How to Thrive on the Other Side” with John Spence.

If you’re a business leader, this information is crucial to the future of your organization.

You can find the full recording here.

Visit his website for more services and resources, to purchase one of his books and to subscribe to his newsletter.

Top Takeaways

We are in the Fourth Industrial Revolution – Post-Digital Era

Three Things that Drive This Era…

  1. Computer Speed
  2. Big Data
  3. Artificial Intelligence

New Ways to Work Together:

Virtual everything:

  • Meetings, teams, sales, management, school lessons

Office space:

  • 70%+/never
  • Most people will never go back to the office

Business travel:

  • 80%+
  • If we have the ability to do things virtual now, there is not as much of a need to travel

What’s Next: Holograms, VR glasses – Something like this will exist in business within a year to 18 months

 

New Ways to Shop:

Online everything:

  • Amazon
    • 35% of the United States purchases are through Amazon

Contactless interactions with customers:

  • AI Assisted

What’s Next: Autonomous cars that deliver groceries. By 2026, UPS wants to fly every package with less than 10 pilots with AI sorting packages.

 

The Burnout:

  • Mental Health – anxiety, stress, depression
  • Physical Health

Solutions:

  • Assisted Development – People who are stuck at home and want a new hobby – They can hire an online instructor
  • VR Travel
  • Virtual Companions – computer generated virtual companion

 

How Is Consumer Behavior is Changing?

Changing expectations

  • Offering a different product than what they originally were seeking

Small Luxuries

  • Consumers buying products where the company reflects their beliefs
    • i.e. treats their employees well

 

Business Impacts:

Businesses will need to…

  • Have an e-commerce option
  • Have a backup to their supply chain
  • Treat the people you have right now really well and let them know they are important
  • Recognize new talent is readily available to hire

 

Post Digital Era:

  • These are people currently in high school and below who don’t know anything other than technology
  • Kids under 5 years old right now will likely never drive a car, won’t go to an actual doctor – will only use a virtual option

 

Three Things that Leaders Need to be Successful in the Future:

IQ – Intelligence Quotient – dedication to lifelong learning

EQ – Emotional Quotient (this is becoming more important than IQ) – you have to be able to get along well with other people

AQ – Adaptability Quotient (the most important) – test out new ideas, experiment, being agile and adaptable, curious and flexible

 

Q&A

What are the skills that somebody needs to be chasing right now to be ready for this change?

Increasing competence – getting better and better at their skills

Improve EQ – AI cannot replace true emotions and true connection

  • EQ – self-awareness – understand your own emotions, curiosity (about what others are thinking and feeling) and vulnerability

Ask yourself:

  • Is what I’m about to say going to add value at all to this conversation?
  • Do I want to be happy or do I want to be right?

 

More about AI, Machine Learning and the differences between the two:

AI: Looking at X-Rays, AI can scan thousands and thousands and be 99.9% positive

Machine Learning: Two Facebooks bots talked to each other and as time went on they got very aggressive and created their own language that the scientists could not understand and had to shut it down

Challenge: Imagine autonomous cars in an intersection – who does the car hit? It’s an ethical question: how does it decide what life to end?

 

What is the impact on the younger generation?

  • They’re already addicted to technology and doing a lot of stuff online
  • Create fear around personal interaction which would drive them even more into technology
  • Fewer relationships but stronger ones
  • Physical touch may not be as prevalent

 

What can organizations or individuals do to have a strong engaged virtual culture?

Safety

  • Physical safety and emotional safety
  • They don’t want to get sick at work
  • They are stressed right now and want to be able to voice that, and know that the organization will be there to help them

Belongingness

  • They want to know they are part of the group
    • i.e. Virtual happy hour, trivia, etc.

Appreciation

  • Genuine honest sincere praise
  • Catch when someone does something right and celebrate everything

 

Like what you see? Register for our upcoming webinars today!