As business evolves with analytics, we need to adapt to these changes.

Once you learn about data analytics, you will begin to see it everywhere and understand how it is transforming the field of business. In traditional business education, students are taught the tools that have been used by businesses in the recent past. This approach to education is inherently backward-looking, because textbooks and problem sets are based on things that have been observed in practice over the past few years. There is certainly a place for this type of learning, because the future always builds on the past. However, this approach cannot prepare students for the future if students only learn skills without learning how to adapt those skills.

As Bob Dylan sang, “The times, they are a changin’.” While this was true in the 1960s, it is even more true in the “twenties” of the 21st century (this decade), because of technology. The speed of technological change is increasing, which means that existing technologies are being replaced at a faster and faster pace. It is imperative that the students of today wrap their heads around this fact. This perspective is important, because it changes the way that we think about learning. Students cannot just learn the skills of the recent past or even today, because these skills could become obsolete in a matter of years. We must all be learning how to learn. Learning how to learn is a skill of its own that will allow students to grow and adapt with the technologies that are changing around them. “Self-directed learning” is another way to think about learning how to learn. You can also think of this in the context of life-long learning. As technologies disrupt the workplace, the traditional four-year degree will no longer prepare students with everything they need to know for a lifetime career. Workers will need to continue learning throughout their career so that they can continually “level up” and prepare for the next wave of change.

Automation and artificial intelligence are specific aspects of how analytics is changing the nature of human work. As machines become better at doing the things historically done by humans, the role of human work will need to change. Routine tasks are already being done by machines both on the factory floor and in the corporate office. That is because machines will almost always outperform humans in repetitive tasks. This trend will continue to remove more and more of the traditional entry-level positions for unskilled labor. One of the great risks this poses for society is the potential widening of inequality between skilled and unskilled workers. In a future of automation and artificial intelligence, unskilled workers will have few options for employment and may become discouraged about their ability to earn a living and contribute to society. This is why some social commentators have raised the possibility of “universal basic income” as a government program that would provide funds to people who are displaced by technological change.

For students in higher education, the question is really about the future of skilled labor. What will skilled jobs of the future look like?

One possibility is that skilled labor becomes more technical over time as the role of technology in business increases. College business programs like DePaul University are requiring students to learn business analytics as a skillset that will help students work with data on the job. Many people would say that proficiency in Excel is an essential skill for today’s college graduates who want to work in a corporate setting. This is why learning Excel as soon as possible is a good idea. However, the technology of “spreadsheets” has been around for decades and newer technologies are already pushing beyond this approach to organizing and working with data. Skilled workers will need to learn the technical skills to work with emerging technologies as they arrive in the workplace and enter the mainstream. From this perspective, business students will need to develop more technical skills over time.

Another possibility is that skilled labor becomes more relational over time to focus on the human aspects of business. One could argue that current work is a mix of human and machine-like activities. Routine tasks like data entry are arguably less human and more machine-like in the nature of the work. This is why the great thinkers of the Industrial Revolution worried about the factory “dehumanizing” the nature of human work. If we turn to the present, we could view the growing role of automation and artificial intelligence as a social good that will free up people to be people. When machines can do the least desirable tasks, humans can focus on their unique human contribution to society. Some would argue that business students should focus on developing the “soft skills” like listening, human connection, building trust, making others laugh, empathy, creativity, sparking joy, and being present. These are the intangibles that will be the most difficult to replicate with artificial intelligence, even in the most algorithms. Therefore, humans will these skills will be irreplaceable.

In the words of economics, what is your “comparative advantage”? What do you do well and what makes you unique? As you prepare for the rest of your traditional education and you prepare for work and learning in the future, you should spend some time reflecting on how you might fit into these broader trends. Data analytics will be a powerful enhancer for some people and a powerful disruptor for others. You want to make sure that you are doing what you can to position yourself for this wave of change. In particular, think about these questions:

• How can I continue to become a self-directed, life-long learner?
• How can I enhance my ability to work in an increasingly technical business environment?
• How can I tap into my human gifts to become a person who makes a unique contribution?

There is no right answer to any of these questions. Some of you need to lean into your technical capabilities and focus more on the technical aspects of your education. Some of you need to spend time in personal reflection and discover the human gifts that you have to offer the world around you.

As you pursue your future in business, try to remain aware of the technological changes around you and to view them as an opportunity. Ride the wave and you will have an incredible future. And remember to help others along with you. If we are going to survive this transition as a society, we must avoid the more Darwinian aspects of survival of the fittest. Part of what makes us human is the compassion that we have for others. The best potential outcome for the future is one where technology improves the lives of everyone. Striving toward this outcome will require all of us working together as a human civilization.