Explore the types of emerging technology that could present the greatest opportunity to drive transformation in your workforce.
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How do I interpret the Technology Portfolio?
How do I interpret the Technology Portfolio?
The Technology Portfolio provides an overview of the types of technologies that could deliver the most cost savings when adopted in your organisation. The view can be toggled between either augmenting technologies or automating technologies.
The lighter the colour and larger the proportion of the square on the chart, the greater the potential cost savings through deploying that particular technology type. This is also shown as the percentage opportunity that the automating technology could deliver, or the percentage capacity gain that the augmenting technology could deliver.
A macro overview is provided that presents:
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the total salary costs that could be reduced by automating technologies when adopted at the timeframe selected in the Years filter.
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the total capacity gain, calculated by the total percentage gain in FTE time from the augmenting technology types at the timeframe selected in the Years filter.
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the total job additions, by number of FTEs, that must be added to your workforce to implement and use the technologies at the timeframe selected in the Years filter.
How are the Technology Portfolio predictions made?
Faethm's Occupation Ontology lists over 5,000 jobs. Each job is comprised of a unique combination of work tasks from our set of over 26,000 tasks. Each work task encompasses a range of human abilities required to complete each task. And each of those tasks can be either automated or augmented by a technology in Faethm’s Technology Taxonomy.
Each technology and task combination in our model has a unique adoption curve that shows the advancement of technology over time. The adoption curve illustrates the likely adoption rate of a technology, given the country and industry ability or propensity to adopt that technology over the next 15 years.
Each curve is combined with the SVM predictions to create a probabilistic model describing the likelihood of adoption of automating and augmenting technologies over the next 15 years. The curves are regularly updated to reflect the most current technology adoption rates and advancements.
What is the Faethm Technology Taxonomy?
The Faethm Technology Taxonomy is a human-centred classification of technology. We first identified human abilities required for work and used these to construct a MECE grouping of technologies that could disrupt or enhance one or more of these abilities. Each of the 16 technology classes represent a group of many technologies that directly impact work and which are either available now or will be within the next 15 years.
Outside of the taxonomy presented here are what we term Infrastructure Technologies. These are enabling technologies such as IOT or cloud computing, or industry disrupting technologies such as nano-tech or 3D-printing. We see these technologies as indirectly impacting work and are therefore not present in our task-based modelling.