Inventing the future, rather than retrofitting the past

The countries of emerging Europe are better placed than Western Europe to make the most of the automation technologies—including robotics, artificial intelligence, and machine learning—that are transforming industries and the world of work.

It is often said that sometimes, when we think we are inventing the future, in reality we are merely retrofitting the past. This is often the case with technology: we use it to do the same things in a different way rather than completely rethinking existing processes and procedures.

Automation technologies—including robotics, artificial intelligence, and machine learning—are transforming industries and the world of work. While automation streamlines processes and increases efficiency, it can also lead to job displacement and the need for upskilling and reskilling the workforce.

• The end of traditional richness or reach has created an opportunity for CEE’s online businesses to flourish
• Once considered peripheral, CEE has become integral to the EU’s economic wellbeing
• ‘Stay, build, and let the world come to you’

The recent report, The Future of European Competitiveness, authored by former Italian Prime Minister and European Central Bank head, Mario Draghi underlines that Europe is falling behind the US and China.

In order to address this decline, huge investment as well as productivity and competitiveness gains are needed. In this regard, the countries of emerging Europe are better placed than Western Europe—particularly France and Germany. The two largest economies in the European Union have not adapted to the full potential of new technologies and are over-reliant on traditional industries that are struggling against competitors from the US and Asia.

Equipped with the skills needed for today and tomorrow

The demand for skills is evolving rapidly, driven by technological advancements and changing market needs.

Lifelong learning has become essential for staying competitive in the workforce, prompting individuals and organisations to invest in continuous education and skill development. The highly skilled, adaptable and reasonably-priced workforce of emerging Europe is well placed to capitalise here.

Collaboration tools and digital platforms enable seamless communication and collaboration among remote and distributed teams. Virtual meetings, project management software, and collaboration platforms facilitate teamwork and knowledge sharing across geographies.

These have been a catalyst for the development of talent clouds and elastic teams—on demand teams of skilled experts who are available and ready to add value to organisations—which raise efficiencies and productivity for organisations, while reducing costs.

This allows companies from Central and Eastern Europe to scale and compete on a level playing field, while providing more opportunities for talent in the region.

All organisations great and small

There is also a symbiotic role between large and small organisations when it comes to the future of work and organisational structures. The Whale and Plankton Eco-System of Mutual Enforcement, as coined by Rishad Tobaccowala, is a metaphor often used in the context of business ecosystems to describe the symbiotic relationship between large companies (whales) and smaller, innovative start-ups (plankton).

Tech-savvy and streamlined companies from Central and Eastern Europe can excel here.

Whales represent large, well-established companies with substantial resources, a strong market presence, and a broad customer base. These companies typically offer well-known products or services, have extensive distribution networks, and enjoy significant brand recognition. In the ecosystem analogy, whales provide stability, scale, and resources that support the broader system.

On the other hand, plankton symbolise smaller, agile start-ups or innovative firms operating in the same ecosystem. These companies are known for their innovation, flexibility, and potential to disrupt traditional markets. In this metaphor, plankton bring diversity, creativity, and energy to the ecosystem, often becoming a valuable resource for larger companies to leverage.

The concept of mutual reinforcement highlights the symbiotic relationship between whales and plankton, where both benefit from each other’s strengths.

Whales gain access to cutting-edge technologies, products, or business models through partnerships with start-ups, which can enhance their competitiveness and promote growth. Collaborating with innovative companies also helps larger firms remain adaptable and responsive to shifting market conditions.

This represents an opportunity for companies from Central and Eastern Europe: they do not just have to aspire to be the next Microsoft, Google or Apple. Instead they can slot into a larger, complex ecosystem.

In sum, technology, automation and the future of work represent opportunities for companies, entrepreneurs and individuals from emerging Europe. They are well placed to take advantage of these changes to invent their own futures, as well as that of the region, rather than remain wedded to retrofitting the past.

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