Whenever a new technology emerges, it becomes easy to see what jobs it might replace. The challenge may be to envision what kind of new jobs may be born in the future. A decade ago, artists used to work with copywriters in order to prepare advertisements, but today with the help of computer-aided graphics the same is done by graphic designers, which took the scope of print media and creativity to new heights. The idea is that when we pass off some of our workload to machines, it broadens the scope of what was possible. We come up with new ideas, new innovations, and new kinds of work. In fact, many industries that are around today, like electronics, health, medicine, finance, and insurance, barely existed or did not exist at all a century ago. By that notion, it is never wrong to think of upgrading one’s skills with time. A report titled “Towards a Reskilling Revolution: A Future of Jobs for All” was released on Monday, 22 January 2018 at the World Economic Forum’s 48th annual meeting in Davos-Klosters, Switzerland. The conference was attended by more than 3,000 global leaders and industry experts. The report signifies a strong emphasis on job disruption and reskilling, it analyzed more than thousand job types that are in the crossfire of technology and pave the way to a major job disruption. According to the report, 1.4 million US jobs will be disrupted by the year 2026, due to technology and other factors, out of which 57% jobs will be women-oriented. However, the research also suggests that 95% of workers conjugated to the risk, would find quality jobs with higher pay if they have enough reskilling.

It is perceived that only 2% of workers would have a better opportunity to transition to new jobs whereas 16% would have no opportunities at all. However, at-risk workers who retrain for an average of two years could earn an annual salary increase of $15,000.The change is real and anxiety justified, however, new technologies often open up new frontiers of jobs that did not exist before. Imagine trying to explain what an ‘app developer’ does for someone in the 1960s. Focusing on machines that will replace jobs do not speak to how they might actually strengthen them. For example, when ATMs started rolling out in the '70s, they threatened to make human bank tellers extinct, however, banks quickly found that ATMs made it cheaper to open new branches, and the result was more branches and more tellers than ever. Since the arrival of ATMs, the number of bank tellers has doubled. Why? Well, once bank tellers were freed up from dispensing cash, they started forging relationships with customers, solving problems, and introducing them to new products like loans and investments. The net effect was that bank tellers became more valuable to banking.

What about the future?

Automation is accelerating and spreading to more industries faster than we've ever seen before. Machines are increasingly replicating skills that we once thought were unique to humans. AI algorithms are trading in the stock market, recommending products to us, and guiding airplanes through the sky. Robots are being developed that someday might be cooking your meals, running warehouses, or performing surgery, all by themselves. So, is this time different? Luminaries like Elon Musk seem to think so. He has predicted that soon, robots will be able to do everything better than us. And Stephen Hawking has warned that artificial intelligence will replace humans completely. Lots of people seem to think it's only a matter of time before these ever-smarter machines make most of today's workers obsolete. So, should we be worried? Well, yes, it is, just like it was different after the printing press was invented or the assembly line or tractors or computers or any other invention was made that changed the world.

All of these new technologies transformed the way we work and adjusting to them wasn’t simple, inexpensive, or immediate. But if the past is any indication, this radical leap forward in technology is at least as likely to create jobs as it is to destroy them, even if these new jobs might sound as strange to us, as an app developer does to someone who's never seen a cell phone before.

Klaus Schwab, founder and executive chairman of the World Economic Forum stated that the only limiting factor considered in the world of ‘opportunities for individuals’, is that the disposition of leaders in creating investments in the process of re-skilling people, that has a direct impact on bridging worker onto new jobs. The importance of this investment will be massive for businesses, as well as, for workers who may find a new purpose in their lives. People with transferable skills like collaboration and critical thinking abilities will have the most beneficial transition in this period. As President John F. Kennedy once quoted, “Change is the law of life. And those who look only to the past or present are certain to miss the future.”

The staffing industry provides career opportunities and workplace solutions for some 16 million Americans each year which makes a vital contribution to the United States’ workforce and economy. The industry generated $428 billion in revenue worldwide in 2016, according to the “Global Staffing Industry Market Estimates and Forecast: May 2017 Update” released by Staffing Industry Analysts, where the US, Japan and the UK — made up a majority of the revenue. Temporary staffing generated 89% of the revenue, with the remaining 11% stemming from place and search. Staffing firms have had their plates full in 2017 between the talent shortage, technology adoption, candidate and client engagement, and ambitious revenue goals. Thus, staffing firms must choose wisely when allocating resources such as, time and money. Staffing firms have also taken a proactive approach to technology adoption: 64 percent of firms use an Applicant Tracking System (ATS) to track candidate activity and 60 percent use a Customer Relationship Management (CRM) system for business development.

Outsourcing various functions of a business is not a new practice; many use outsourced vendors for payroll, email hosting and other back office functions. Specifically, through offshore models such as, sourcing and screening which are a growing trend in outsourcing recruitment-related tasks. The significant cost-effectiveness of leveraging offshore labor markets is the major benefit of this business model. There is the simultaneous increase of their bandwidth and productivity, by releasing in-house recruiters from some of the more tedious tasks of their job.

Through online networking, inbound marketing and innovative staffing software, technology is evolving at an unprecedented rate, impacting all industries while the days of Rolodexes and newspaper ads are long gone, leaving recruiters and salespeople alike to build their books of business. There is also the growing importance of verified sales intelligence and predictive analytics. More than just a verified list of contacts, it is now essential to gather data on complex org. charts, technical environments, online behavior, and more. The more you know about a contact and their company, the more basis you have for building a solid foundation.

Staffing firms have high hopes for 2018, though a number of disruptions and challenges stand in the way of them looking to improve revenue and profitability. Expectations for the year can be met if the firms are able to anticipate and rise above these challenges. The talent shortage has been the most mentioned obstacle for 2017, it’s likely to continue for 2018, while more than 60 percent of all respondents rank it as the top three challenges, followed by pricing pressures (53 percent) and economic uncertainty (37 percent).

 Conclusion

The statistics above prove that the staffing trends have been improving for the best over 2017. Though downfall has been witnessed in both growth and low in demand at times, that does not seem to hinder the rate at which the staffing industry is growing. Today, the ladder of success for staffing is not looking to stop but is grabbing onto opportunities everywhere possible.

What is a Bitcoin?

Bitcoin has gained tremendous attention in recent times. Bitcoin is a form of cryptocurrency or digital money. Cryptocurrency can be classified as virtual currency or alternative currency to a facilitate transaction. The entire process relies on a real-time ledger of the transaction in blockchain . Bitcoin is the first kind of cryptocurrency which was invented by an anonymous person or group named Satoshi Nakamoto in 2009.

How is a Bitcoin created?

Bitcoin is created as a reward for the process called Bitcoin. Miners use open source software to complete two tasks for ‘Bitcoin mining’; 1) miners authenticate the validity of new bitcoin transactions that are remaining to be recorded on a public ledger, and 2) miners should decode an encrypted, unique ID, produced by the bitcoin formula, to compute the confirmed records to  public and for that they are awarded or discover bitcoins. The growing list of records of these transactions are called “blocks”; every block contains a hash pointer to the previous block which acts as a link, this chain of blocks is called “blockchain”. A blockchain is a public ledger for all bitcoin transactions.

Threats pertaining to Bitcoins:

What made Bitcoin popular is anonymity, however, unfortunately, criminals also enjoy anonymity. Bitcoin made the process of money laundering much easier. There is also a rise in the number of hackers who use ransomware attack on the target; the developers of such ransomware want a ransom paid in the form of Bitcoins to release hacked computer files.

The blockchain is essential in bitcoin formation, however, it has its vulnerabilities - they are easy to locate and overtake which gives hackers multiple chances to attack. Bitcoin wallet is also commonly targeted as there are reports of wallet theft containing the massive amount, scams theft, defunct "stock exchange".

"Silk Road", a website on the dark web to purchase drugs and other illegal items was shut down by FBI.

Since blockchain is decentralized and offline (not in one server), it cannot be controlled by a single entity and so it has no single point of failure, however, there have been major security breaches in recent years as sensitive data such as, account details, name and address of bitcoin owners had been exposed to malicious hackers. Another way bitcoin can be compromising is when an attacker installs ‘keylogger software’ that can help them identify the codes to a bitcoin user’s wallet.

Members of the bitcoin network must be aware of this risk and take all necessary precautions against keylogger applications. There are also many fake wallet applications floating in the market; recently Google kicked out 3 fake wallet application from the Google Play store. The applications pretended to be authorized wallets but were a complete scam. These three apps that were downloaded by users were identified as 1) Bitcoin mining 2) Blockchain Bitcoin Wallet – Fingerprint 3) Fast Bitcoin Wallet.

Besides these fake apps, cybercriminals are now designing malware that uses personal computers of users to mine cryptocurrencies; these infected systems let the malware use their computing power, without the user’s knowledge. By hijacking a computer or phone, a hacker assigns the job of mining on those devices. Enormous amounts of computing power that is required to solve complex mathematical problems are involved in the mining process and authenticating a transaction which ultimately leads to the generation of cryptocurrency as a reward.

Bitcoin, of course, isn’t the sole reason for cyber attacks. With the exponential increase of devices that are connected to the net, otherwise called the IoT (Internet of Things), hackers have more ways of peeping into our data systems than ever before. We are all progressively exposed to cyber attacks and with bitcoin; it has become easier for cybercriminals to make profit while remaining anonymous.

Every cryptocurrency comes with a promise to turn the world around but only a few survive; however, Bitcoin may be here to stay. The US government has acknowledged Bitcoin as a property and is trying to regulate it as ‘property vulnerable to exploitation’. By registering corporations that use Bitcoins, the government is trying to make payment for criminal activities using Bitcoin more and more difficult.  However, as the popularity of bitcoin increases so do the new threats pertaining to the exploitation of bitcoins for various criminal schemes. Cybersecurity specialists need to perceive the impact that bitcoin has on their profession and the way it might influence their way of conducting business. We cannot stop the growth of bitcoin, but we sure can try to protect ourselves from its undesirable effects. As the cybersecurity pioneer, John McAfee, describes, “You can’t stop things like Bitcoin. It’s like trying to stop gunpowder.”

The frequent upgrading of IT systems is no longer termed better; it is rather tagged as essential. Coping up with IT advancements ensures that you are not rendered obsolete.  One of the most discussed technologies is Cloud, which has evolved itself from a ‘nice-to-have’ to a ‘must-be-there’. Unlike the Legacy Era, Cloud is no longer seen as an investment, it is rather seen as a tool that brings circumnavigated and balanced overview and as a platform for innovation and a means to achieve competitive advantage.

Cloud adaptation can help SMBs in three different ways:

• Facilitate innovation, lowering total cost of ownership,

• Enhance operational efficiency and;

• Enable them to more readily meet customer expectations

It is no longer a belief but a fact that adopting Cloud-based services will lower operational costs. It is not just the cost effectiveness that is making Cloud adaptation imperative for companies; the emphasis here is on value addition. Successful organizations understand that visionary technologies like Cloud Computing and Cognitive Computing are key to improving operations, customer experiences, and are basics of any business.

The flexibility that Cloud provides ensures swift operations and better business performance. Cloud is the way for small organizations to have a level playing field and to enjoy tailored services with enterprise-class infrastructure supporting their endeavors. Vesting in modern technologies in the organization also resists dwindling of the talent pool.

Development of the business world is and has been exponential; this, for clear reasons, has its own advantages. Since the development rate is quickly growing, any player in the market can become wildly successful in a little traverse of time. The market is more competitive, for big players, the reason being exponential development, which affirms rapid change, considering the large size and rigidity of these firms; they are often slow in implementing changes. Lack of endurance in coping up with technological advances can bring about the downfall of any prominent organization.

What do the companies in these three groups have in common?

Group A: American Motors, Brown Shoe, Studebaker, Collins Radio, Detroit Steel, Zenith Electronics, and National Sugar Refining. Group B: Boeing, Campbell Soup, General Motors, Kellogg, Procter and Gamble, Deere, IBM, and Whirlpool. Group C: Facebook, eBay, Home Depot, Microsoft, Office Depot and Target.

All of the companies in Group A were in the Fortune 500 in 1955, but not in 2016.

All of the companies in Group B were in the Fortune 500 in both 1955 and 2016.

All of the companies in Group C were in the Fortune 500 in 2016, but not 1955

So what happened to these companies, in short, is Darwinism. In order to survive, you need to evolve. If you look at recent business history, as the above statistics revealed, that more than 80% of the businesses that were in the Fortune 500 list, 20 years ago, are no longer making it into that list due to lack of endurance in coping up with the emerging technological advancements in 1990s. The ranks were snatched by organizations born in last 20 years instead.

The same fundamental transformation is happening now. Instead of a shift to online business, it is a shift to digital business models and modern digital infrastructures. If you stick with your legacy technology, you will face losing relevance and suffer the same fate as those companies from group A. Therefore, there is an imperative need for constant upgradations, giving a whole new meaning to competitive survival,

“Survival of the Contemporary”.