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  "documentTitle": "Total Enterprise Reinvention",
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  "notes": "This slide outlines the research methodology for two distinct analytical frameworks used in the report.",
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      "text": "Step 2: We analyzed the current distribution of work activities within individual occupations, to understand the time allocated to different tasks. Based on expert input, we estimated the potential of technological innovation to reinvent a specific task, either by automating it or by augmenting it. Using those two elements, we calculated the share of time that would be reinvented by technology, across all occupations.",
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      "text": "Step 1: We classified 2,100 examples of tasks from the O*Net and US Bureau of Labor Statistics. These examples consisted of 330 separate tasks that make up 851 occupations. The classification involved taking the “action” verbs from the task descriptions and assigning those verbs into four subcomponents: sense, comprehend, act and learn. Doing this created a training set. We then used this manual classification to train a machine learning model, which improved the accuracy of classification. The machine learning model gave a score from 0 to 1, which indicates the probability that a given task falls into one of those four groups.",
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      "text": "Step 3: The results from step 2 were combined with the latest US employment data by occupation, to get an estimate of the share of hours worked in 2021 that could potentially be reinvented by technology. Results were also aggregated by job cluster and industry.",
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      "text": "The economic component is based on economic risk ratings, Volatility Index (VIX), Gross Domestic Product (GDP) volatility and inflation volatility. Geopolitics is based on the risk of geopolitical instability. The social component reflects social unrest and non-participation in the labor market. The environmental component reflects the frequency of climate-related disasters and climate-driven risk. The consumer component reflects pessimism at a global level, based on the inverse of the OECD's Consumer Confidence Index. Finally, the technological component is based on an index comprised of 24 indicators, which use the presence of disruptors and performance of incumbents as proxies for the level of disruptive innovation in industries.",
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      "text": "We assessed the potential of technology to enhance how we sense, comprehend, act on and learn from information and data. This involved the following steps:",
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      "text": "We created an overall measure of disruption to assess the level of volatility and change in the external business environment. The index is based on the average of six sub-components, that cover the economic, social, geopolitical, environmental, consumer and technological spheres. Each of the sub-components is based on a set of indexed scores for a range of indicators.",
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