The Gen-Z babies are post-millennials and belong to the iGeneration. Born by about 1995, some of the first group of such cohorts will be graduating this spring. Looking back, it makes you want to relive the glory days when information technology was merely a fledgling. By 2020, 36% of the global workforce will be occupied by these post-millennials. Each year in January, the World Economic Forum has an annual meet that contemplates possibilities of the future. By the time Gen-Z takes over, there would have been a world of change and yet mainstream culture is still grappling with the iGeneration. It is predicted that the Gen-Z will be catalysts to major societal adaptations comprising of everything and inclusive of the internet, healthcare, infrastructure and even food. Each of these post-millennials would be about 50 years old by the year 2050, by which they would have influenced two megatrends – hyper-connectivity and meteoric urbanization. Physical and digital experiences will be integrated to create a scarcely perceptible human experience.
Rapid urbanization comes with its own set of challenges as pointed out by WEF’s Future of Urban Development and Services project. The Gen-Z, by 2050, would be occupying the biggest demographics in the world and will also parallelly see two-thirds of the world population living in urban areas. Analyzed averages reveal that these 50-years-old individuals would hold one job for at least three years and live in 15 different locations – not disowning the fact that they might have 17 such 3-year jobs. Renting has become trendier than buying leading to these statistics. Cities are waking up to these new urban realities that involve ambient technologies and connectivity in every aspect of construction and living.
With 95% of the Gen-Z living in urban areas and emerging markets, connectivity will be the key to such progress. WEF is now focusing on the Hyperconnected World and Internet For All, which will, by 2020, see 50 billion devices networked and 75% of the total world population with a 4G connection.