The future of work: between AI and non-office-based

We are immersed in an unprecedented work revolution. Most jobs of the future do not exist today. This raises important questions: Will we only work three days a week? What will offices be like by 2030? Will remote work continue?

70% of tomorrow’s most demanded jobs do not exist yet. Artificial intelligence (AI) and robotics will impact more than 46% of current jobs. The average number of jobs that a person will have in the future will be between 7 and 10.5, working days could be three or four days per week and offices will have to reinvent themselves for new needs.

Will artificial intelligence do away with jobs?

AI and automation are, undoubtedly, a new revolution in the work environment. The Organisation for Economic Co-operation and Development (OECD) predicts that 14% of jobs could cease to exist and a further 32% could be seriously affected.

However, this does not mean that millions of people are going to end up without jobs or resources, but rather that the future points to AI and automation handling more automated and repetitive processes, leading to the creation of new jobs. In fact, according to the World Economic Forum, around 23% of jobs will change between now and 2027, with the creation of 69 million new jobs and the disappearance of around 83 million jobs.

For investors, these future changes also present an opportunity. According to Statista data, the market value of artificial intelligence could surpass the US$300 billion barrier by 2025 and US$1 trillion by 2029. This means that the market could see its current value grow tenfold by the end of this decade.

Dynamism and fewer hours worked

According to World Economic Forum forecasts, between 75% and 85% of professions that will be most demanded do not yet exist. And among the professions that are emerging are experts in the Internet of Things (IoT), big data and AI; water harvesters; drone pilots and air controllers; cryptocurrency managers; 3D printers or smart carriers, according to the Spanish National Reference Center in E-commerce and Digital Marketing.

Another aspect to consider when talking about the future of employment is dynamism, which will require employees prepared to live with change and continuous training. In fact, in its Working in 2033 report, the consultancy PwC stated that the notion of working one’s whole life in one job in the same company is experiencing significant changes, and it is expected to continue to evolve further. Indeed, its experts estimate that we could have between 7 and 10.5 jobs on average throughout our working lives.

Another criteria that could vary in the coming years is hours worked. Presently, some countries are considering reducing the working week from 5 to 4 days and from 40 to 37.5 hours. In this respect, two economic references such as Bill Gates and Elon Musk have also warned of a future with fewer days worked. According to the Microsoft creator, thanks to AI we would work less. The Tesla CEO went further by saying that working will be optional. “In the future working will be optional. We will need universal high income which may be destructive for humanity. One of the challenges may be how we find meaning in life”, he said.

The smart office and teleworking

Teleworking became mandatory due to the pandemic of 2020. Since then, in-person presence seems to have returned and, in fact, according to the KPMG CEO report, 78% of executive directors of Spain’s leading companies believe that within three years this model will have been fully restored. The truth is that it is the only trend that appears less clear. Although there are studies for all tastes. The latest establishes that teleworking is allowing professionals to perform better but it is hindering innovation. A huge report published in Nature  –which analyzes 20 million scientific studies and 4 million patent applications– attests to this: remote work can be more productive but in-person collaboration produces more advances than teleworking.

Meanwhile, the workspace of the future, according to the international consultancy JLL, will change and move towards smart offices with interconnected technological devices to improve productivity and work conditions to simplify certain daily tasks that can take up time during the work day. What’s more, the space itself will be equipped with the use of sensors “to maintain a humidity level between 45% and 65% or maintain the temperature at 21°C”, and will ergonomically adapt to the postures of workers.

The real estate investment in office buildings sector has been affected by this situation. Companies are now looking for smaller and more flexible spaces that favor the hybrid model. According to the Office Occupancy 2023 report, published by the real estate consultancy CBRE, operations with more than 2,500 m2 of office space have been reduced much more than those with less space. However, investment forecasts improve if we talk about the coworking model.

Ranking of technologies likely to be adapted by companies from 2023-2027Source: Statista