Over the last decade, tech has revolutionized many industries, fundamentally changing the way we work, learn, and interact with each other. Now, experts believe that technology is shifting the tide of capitalism, too—and that the next phase of tech capitalism will demand more of us, not less.
The shift to tech capitalism is already well underway—businesses utilize tech platforms such as automated customer service, data analysis, artificial intelligence (AI), and machine learning to increase efficiency, gather novel insights, and optimize operations. And these tech-driven processes don’t just require rigorous training and education, but a heightened sense of moral responsibility as well.
Organizations are no longer just competing for a bigger piece of the market pie—they are now redefining the meaning of corporate social responsibility. Consumers, too, have higher expectations of their businesses; they not only want great products and services, but they also want to be sure that the companies they support are making ethical decisions in their operations, manufacturing processes, employee practices, and environmental sustainability efforts.
To meet these changing demands, organizations must embrace the idea of social responsibility and adopt practices that demonstrate a commitment to protecting the environment, empowered employees, and socially responsible investments. And this is where humanity plays an essential role: for the next phase of tech capitalism to work, humans must be present to combine technology with people-driven insights in order to create solutions that honor ethical considerations and social awareness.
Humans have always been the foundation of progress—whether it’s the way they leverage technology, or the way they use intelligence and creativity to engineer solutions. The next phase of tech capitalism will demand their shared knowledge, experience, and understanding of their environment to make progress. In other words, we must use our humanity to enhance the way technology can shift capitalism so that the collective sends a powerful message of purpose, accountability, and respect for all.