We are in a Fourth Industrial Revolution of unprecedented technological advancement, blurring boundaries between physical, digital and biological realms.

So ‘what does the future of work hold?’ asks Nada Kakabadse, Professor of Policy, Governance & Ethics, and Andrew Kakabadse, Professor of Governance & Leadership.

People have always been fascinated by the future and the possibilities it might hold.

This is mostly because of the unknown world of new possibilities it promises, interpretation, alternate pathways and exciting developments, all of which ultimately combine to give structure to our lives.

The Fourth Industrial Revolution has brought about disruptive and exponentially-paced change in the world of work and is unlike anything that has ever been experienced before.

New technologies are continually-evolving, fluid and open to reinterpretation. Digital developments, in particular, are disruptive, continuous, unique and ongoing processes, compared to ‘non digital’ tools.

For organisational leaders, it is important to focus on how humans and technologies interrelate and produce alternative organisational forms which can have a global impact.

Some sceptics argue that predictions of a radical transformation regarding the future of work are exaggerated. Change, they say, is happening across all types of work, but they disagree as to the depths of these changes. Their view is of a future that resembles the present, with minor adjustments.

In the short term, the future of work can be captured as a series of predictions about gradual and often competing changes of operation.

However, in the longer term the future will bring radical and disruptive transformations, resulting in a societal overhaul on the scale of the three previous technological revolutions combined.

Technology and innovation interests emphasise the potential of big data, and job augmentation, while the integration of artificial intelligence (AI), automation and robotics is positioned as revolutionising the workplace. From this perspective, government regulations are viewed as hindering technological progress.

Overall, the perspective being promoted are that technology is neutral and efficiency gains are realised as routine tasks become automated. A key outcome here is that workers are benefited by systems which take over routine and mundane tasks, allowing humans to focus on problem-solving, creativity and innovative tasks.

Greater efficiency should be accompanied by upskilling and reskilling programmes, which play a vital role in preparing the workforce for new intellectual and social opportunities, resulting in a seamless interaction between humans and digital person-like avatars (DHLAs). At least this is the theory.

Concerns are being raised over job security, workers’ rights, fair compensation and other benefits. The challenge for policymakers is to ensure a balance between workplace flexibility and the fair treatment of workers, a balance already being significantly distorted in favour of owners’ rights.

It is a long-established truth that the future is shaped within a social and political context.

In these circumstances the future of work takes on a different meaning. The focus is on full participation in the labour market. Technology innovation and adaption proceeds in a manner which is more conscious of the quality of work and life of citizens. Instead of a ‘give business the space to operate,’ philosophy, the system strives for full employment as the objective.

To date, these political societal differences remain unbridgeable.

Each is shaping technology advancement in different ways, and in turn the nature of the future of work. And yet, these two philosophies have a common meeting point. With both systems it is the elite that controls transparency and individual rights to their advantage.

Our findings suggest that advances in technology continue to raise serious ethical questions.

Data privacy, algorithmic biases and the impact of AI on employment need regulation and monitoring. Ethical frameworks and guidelines should be developed to ensure that technology is used responsibly, and for the betterment of society as a whole.

If this can be achieved, the future of work holds tremendous potential for positive change. It also presents challenges that require careful navigation. Embracing technological advancements, fostering a flexible and inclusive work environment, and prioritising human-centred skills are both political and societal concerns which are proving crucial to how the future of society is shaped.

Quite clearly, the future of work is a geopolitical concern. Whichever economic system is in play, the agendas of the elite will determine degrees of support for continuous learning, and the nature of education and learning will be shaped by the economic interests of the owners of capital.

Beyond well-meaning words reality will be determined by the discourse between geopolitical interests. The technology argument is simply a smokescreen. The central question is what interests are served and will predominate by the way technology is developed and utilised? The answer to this will underscore the core interests of decision-makers who will shape the future of work.

A version of this story originally appeared in Risk & Compliance magazine.