Doesn’t the world feel different? The data tells us it is different. And we wake up every day with surprises and changes we never imagined. During the Industrial Revolution, one new force changed everything. Today our world is undergoing an even more dramatic transition due to fundamentally disruptive forces – any of which would rank among the greatest changes the global economy has ever seen. These forces are transforming what we long thought were reliable trends and realities. The era of cheap capital kept alive by central banks soon might come to an end. Training for new job skills can’t keep up with technology’s elimination of current jobs. The U.S. is now the largest supplier of oil and natural gas. Artificial intelligence might eliminate up to 20 percent of current jobs while this new technology is changing the way we look at driving, living and working.
In “No Ordinary Disruption: The Four Global Forces Breaking All the Trends,” Richard Dobbs, James Manyika and Jonathan Woetzel – directors of the McKinsey Global Institute, the think tank associated with McKinsey & Company – go behind current headlines to analyze emerging trends caused by four disruptive forces transforming the global economy:
- Economic power is shifting to emerging markets;
- The furious pace of technology adoption has shortened companies’ lifecycles;
- Aging demographics could lead to the first global population plateau; and,
- Instead of a series of lines connecting major hubs in Europe and North America, the global trading system has expanded into a complex, intricate and expanding web.
What this book excels at is quickly summarizing these forces and the challenges they pose to businesses and policy makers, using real-world examples to illustrate. With this book, the authors help you reset your intuitions about the world as we know it. Just reflect on China: It’s a country with numerous cities that rival the population of many European. It also owns the largest ecommerce market in the world.
What the authors ultimately achieve is pushing readers to stay curious and adaptable. These are traits that make successful executives. We don’t know what’s around the corner and what new forces will shape the world. But by keeping a curious and open mind, we can all prepare to answer any new market force with creativity and determination.