The final article of people who could be indispensable for the new economy is being described in this article. If you are new here, I highly recommend you to read my previous two articles on this topic.
To give a brief summary , so far in this week I have been sharing my thoughts on winning the new economy, and what kind of people will be the true winners. In Race Against the Machine Eric Brynjolfsson and Andrew McAfee have introduced three categories of people who could thrive in the new economy viz. The owners(those who have access to capital), the superstars(those who are the rock-stars on one particular skill) and the final category which is the High-Skilled Workers( the group of people I am interested in this post)
Nate Silver the epitome of high skilled worker!
The New York Times website had a very great amount of traffic on the day of American election in 2012.
The traffic was usual for such a big day of national importance.
But what made the site owners interested was, more than 70% of the site traffic was from people visiting a particular site location. The URL wasn’t that of a breaking news story or that of a Hollywood celebrity rumor.
But it was instead from a blog run by a Baseball stats geek turned Election forecaster named Nate Silver.
Within some months Silver was lured away from The Newyork Times and by the ESPN and ABC News. Times even tried to retain Silver by offering a dozen of staffs as writers for him.
The deal offered to Nate Silver by ESPN and ABC News included giving him a major role in everything from weather to Sports and news telecasts as well as the Oscar Awards Telecasts.
Since he was a great data whiz, a person who had incredible skills in analyzing data and feeding to databases to produce results with his own mysterious abracadabra that produced the epitome of statistical data results!
It made him a true winner of the economy and was named as one of the world’s 100 most influential people.
Teasing valuable results from increasingly complex machines
In my previous post I had this line about how automation could cause the decline of low skilled labors.
I argued that “….a software or a bot that could enter data to a computer with zero error causing the decline of freelance data entry jobs.” As automation would overthrow low skilled labors, there is an increase in demand for the people who could work and make such technologies in creative ways!
As Brynjolfsson says in Rise Against the Machine,
This restructuring is not driving down all jobs but is instead dividing them.
This is an interesting irony which is, advances in newest technologies like voice recognition, robotics and artificial intelligence automates low skilled jobs whereas advances in other technologies like data visualization, analytics, high speed communications and rapid prototyping have improved values of high skilled jobs.
As I said in the title, those who could tease valuable results out of these increasingly complex machines in creative ways will thrive.
Most of the future corporate interview questions would be ” are you good at working with intelligent machines and not just using any Microsoft office tools?
So I would say, be as good as the newest technologies, so they can’t ignore you!
The absurdity now people have is they believe, exposure to simplistic consumer facing products, that any 5 year old with a smartphone could do – make them technologically relevant! Playing around with hot wheel toys won’t prepare you to thrive as auto mechanics.
(Photo by bruce mars)