What's changing our world?

Have you recently doubted your intelligence because you did not know how to operate the latest nexus5? Or were you surprised to learn about the new virtual currency “bitcoins”?

If the answer to the above questions is “yes” (thanks for that by the way) then let me tell you that we are sailing in the same boat J

Technology is changing at a nano second speed and being wired to the latest “IT” has become the new norm. Societies all over the world are going through major changes. These changes or what sociologists call “Megatrends” are re-shaping our world; actually changing old (hitherto expected to die hard) habits!

Change Thinkers (now this is a new term too, and took me a while to catch on to it) have listed down 4 megatrends that according to them are changing the world scenario and to which governments will have to pay more attention.

1.       Demographic shifts and accelerating urbanization
2.       Shifts in economic power
3.       Resource scarcity and climate change
4.       Digitization

Sociologists say (it’s still difficult to say Change Thinkers) global population is ageing and some societies are ageing faster than others.  So while the supply of working age population declines in these countries, some countries will continue to be “baby boomers” and have a growing working age population.  The implications of these demographic shifts will have a bearing on government budgets and policies.

According to a UN report on world population, we will have 360 million older workers leaving the workforce by 2050. This implies the increasing burden on medicare facilities; a huge dent on the government budget and expenses. The increasing working age population on the other hand will lead to increasing urbanization as population moves to the cities in search of better work opportunities. The governments will have to increase investments in housing, education and food (agriculture) for sustenance of this population.

 The financial crisis of 2008 has changed the way the world looks at developing markets today. Developing economies are increasing being looked at as growth drivers because of the increasing disposable incomes and consumption power that resides within them.  This economic shift is evident as all major global corporations shift their regional headquarters to these geographies.

The 3^rd megatrend affecting the world is scarcity of resources and climate change. By 2030 it is estimated that the world will need 50% more energy, 40% more water and 35% more food. By and large governments are finding it difficult to sustain populations on depleting natural resources. Impacts of climate change will include rising sea levels, water shortages, food scarcities, and extreme weather conditions. It’s thus important to use the available resources wisely if we wish to leave behind a better planet for the future generations.

Digitization has completely changed the scope of human existence. Globalization has indeed made the world flat leaving very few economies decoupled in the true sense. Technological breakthroughs are saving millions of lives today by investing in drugs, better medical facilities, feeding millions and eradicating fatal diseases.

It is thus becoming extremely important to adapt to these changes in order to be a true global citizen. So it’s never too late to learn how to use that “new touch screen” mobile or read up and ask questions on the latest in technology. I have started this journey by learning to navigate the ipad and of course the latest nexus5; it’s your turn now….