Emerging Technologies to Overhaul Workforce Payment and Roles by 2040

Virgin Media O2 Business published a series of predictions on the future of work, offering a detailed vision of how emerging technologies could reshape the workforce by 2040.  

According to the publication, over a third of employees (36%) are worried about how technological advancements might affect them, and more than one in four (27%) believe they are struggling to adapt to the rapid pace of these changes. This sentiment is particularly felt among deskless workers in transport and storage — where 41% feel the pace of technological advancement is too fast and should be addressed. The data stems from Virgin Media’s Future of Work study, which provides a compelling forecast of the changes that workers and employers can expect in the coming decades.  

The study, which surveyed 2,000 U.K. workers across various sectors, reveals that half of those under the age of 50 are unsure of what their job prospects will look like in 20 years — a figure that rises to 66% for deskless retail workers and 63% for workers in transport and storage.  

Despite these concerns, there’s a notable optimism about the role of technology in the workplace as well. Nearly half, or 46%, of deskless workers believe technology will “play a key role in the future,” with 36% excited by its possibilities and 32% expecting increased productivity with the adoption of emerging technologies. 

Futurist Tracey Follows, who is cited in the study, predicts that by 2040, traditional salaries might be replaced by more innovative payment models — including those based on blockchain and decentralized finance. She also foresees a future where “connected clothing” becomes standard for front-line workers. This kind of clothing responds to environmental conditions like temperature and air quality. 

The study also anticipates a change in safety-focused roles, with 10% of frontline roles expected to be part of the safety sector within a decade. This change is driven by a global focus on worker safety and the need for safe human-machine interaction. 

The study also suggests that connectivity will play a mission-critical factor in the future of work by enabling access to IoT safety devices, AI software, and other necessary technologies required for remote and hybrid teams. The data also reveals the importance of upskilling and preparing employees for a future where these emerging technologies will completely reshape how employees work.