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The role of generation Z in shaping digital economy From Oxford Economics

The following is the The role of generation Z in shaping digital economy From Oxford Economics recommended by And this article belongs to the classification: artificial intelligence, Digital economy, research report.

According to the findings of the Oxford Institute of economics, the average ability score of generation Z is 2.5% higher than that of the millennials and more than 8% higher than that of generation X.

In addition to digital ability, generation Z has three characteristics

Agility: generation Z tends to absorb information and respond to new challenges.

Creativity: it’s easier for generation Z to know how to create and design all kinds of digital content.

Curiosity: generation Z is more likely to be engaged in various forms of informal learning.

Technology and labor market

Research shows that the next wave of automation, led by advances in artificial intelligence (AI) and data analysis, will increase the emphasis on advanced cognitive skills such as innovation and critical thinking. Although the previous wave of digital automation is mainly a task requiring conventional manual and cognitive skills, artificial intelligence will affect many highly skilled occupations.

In addition to automation, digital technology is the main driving force of skills, because it widely affects many aspects of life, such as entertainment, tourism, communication, shopping and so on. Social media is a prime example.

The influence of covid-19

In the long run, the Oxford Institute of economics analyzes the structural trends that constitute an important part of labor market assets after covid-19

Education gap: in many advanced economies, the new epidemic has forced people to temporarily switch to online learning.

Digital accelerator: the implementation of social isolation improves the importance of digital technology.

Power of automation: research shows that covid-19 is likely to trigger and accelerate a new wave of automation.

Industrial destruction: compared with the previous recession, the new crown will destroy the previous industrial production mode.

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