Today, as per the data from the World Economic Forum, McKinsey, Deloitte and others, there are certain industries and professions that have been identified as being on the frontlines of massive digital disruption, driven primarily by the rapid advances in Artificial Intelligence. The impacts are already here - think of the reported job losses in the banking industry as an example.
Another frontline opens up
Another frontline has now officially opened up, one that is larger and way WAY more disruptive than what is happening with technology. It is all related to the unfolding climate crisis.
Here is an example.
Travel & Tourism is on the frontline. The industry contributes just over 10% of Global GDP. But here is the problem, it’s also currently responsible for 8% of global CO2 emissions.
Take a look at this dire warning form Patricia Espinosa Cantellano the UN’s Executive Secretary of Climate Change to the World Travel & Tourism Council a few days ago.
Her message to the industry: “If you don’t change your business, climate change will change it for you.”
They face massive challenges. How, for example, do you sustain a business when international long-haul flights are soon to be severely curtailed or banned outright?
This is a major conversation happening right now in the industry.
Here is a free tip:
If you own a businesses get your team together and do an audit to determine where your business touches fossil fuels. In other words, what parts of your business are reliant on fossil fuels to function. Once you have the list figure out how you can decouple from those touch points as quickly as possible.
The faster you impose this on yourself the better.
Whoever gets this right is going to be ahead of what’s coming. As Cantellano said in her presentation “change before you have too.”