ADDING and REPLACING Generation Alpha set to be most entrepreneurial yet, as new research reveals expectations for a world of ‘ultimate convenience’
16 Novembro 2023 - 9:21AM
Business Wire
- New research1 reveals Gen Alpha’s expectations for a workforce
that’s worlds apart from what is known today, as over three
quarters (76%) aspire to be their own boss or have a ‘side hustle’,
vs 13% who want to work for others.
- Over three quarters of Gen Alpha (78%) have earned money in the
past year, with almost half (43%) using technology to help them do
so.
- 40% of Gen Alpha think AI, virtual reality and smart assistants
will be integral to their future careers.
- Visa is searching for a ‘Junior Chief Innovation Officer’ as
part of its call for businesses to innovate fast to get ahead of
rising expectations.
Add after last paragraph of release dated November 14, 2023:
*Children applying must be between 8 – 14 years old, live in the UK
(which includes NI), have a parent or legal guardian’s permission
to enter (your parent or legal guardian must also live in the UK
(which includes NI), and have a parent or legal guardian who
consents to the terms of entry. Successful applicants selected via
a random ballot at least 30 days before the event and notified with
more details closer to the time. Enter between 14 November 2023 -
31 January 2024. 30 winners will be selected from the ballot to
attend the Junior Inventors' Day.
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the full release here:
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The updated release reads:
GENERATION ALPHA SET TO BE MOST
ENTREPRENEURIAL YET, AS NEW RESEARCH REVEALS EXPECTATIONS FOR A
WORLD OF ‘ULTIMATE CONVENIENCE’
- New research1 reveals Gen Alpha’s expectations for a workforce
that’s worlds apart from what is known today, as over three
quarters (76%) aspire to be their own boss or have a ‘side hustle’,
vs 13% who want to work for others.
- Over three quarters of Gen Alpha (78%) have earned money in the
past year, with almost half (43%) using technology to help them do
so.
- 40% of Gen Alpha think AI, virtual reality and smart assistants
will be integral to their future careers.
- Visa is searching for a ‘Junior Chief Innovation Officer’ as
part of its call for businesses to innovate fast to get ahead of
rising expectations.
Generation Alpha, born 2010 – 2025, expect a more seamless world
which has the potential to reimagine local communities, affecting
the way towns operate, how governments support them, and the way
their economies are run. To explore these opportunities, Visa will
shortly be inviting the next generation of innovators to put their
ideas to the test in a human-centred design session with Visa’s
brightest minds.
Transforming communities and economies
In just four years, the first members of Generation Alpha will
enter the workforce. Whilst Gen Z have already had a profound
impact on the way businesses operate, the next generation is set to
shake things up even further. Three quarters (76%) of children aged
8-14 aspire to either establish their own business, run a small
enterprise, or pursue a 'side hustle', compared to only 13% who
said they would prefer working for others. This is in stark
contrast to the current make-up of the UK workforce, with just 13%
of the working population working for themselves, and 86% working
for others.2 If these expectations play out as the data suggests,
Generation Alpha has the potential to completely transform how
businesses and communities will operate in the next five to ten
years.
A digital and AI-empowered generation
Generation Alpha are as deeply connected in the online world as
the real one3. Visa’s research demonstrates the impact this is
having on their financial understanding and attitudes towards
earning, with artificial intelligence, digital experiences, and
sustainability emerging as the most important elements.
- More than three quarters (78%) of children have earned money in
the last year, with chores like cleaning the house and cutting the
grass being the largest income generating activity (71%).
- Almost half (43%) of those who have earned money, used
technology to do so. Social media (26%) emerged as the most popular
tool for income generation.
- 40% of Gen A think that AI, virtual reality and smart
assistants will be integral to their future jobs.
- Children are more than three times as likely to learn about
earning money by watching digital content creators than traditional
sources such as books (35% v 10%).
- ‘TikTokers’ and ‘YouTubers’ are leading the way as sources of
inspiration, as social media and content creators emerge as most
influential factors in stimulating ideas (61%), vs more
conventional sources of inspiration such as drawing and writing
(47%), reading (34%), and playing with toys (26%).
- Gen Alpha are powering the shift towards more environmentally
conscious earning methods, as nearly a quarter of older children
(12-14) are turning to online marketplaces (23%) to help them
generate income.
Innovative minds call on robots and AI for the ‘ultimate
convenience’
The next generation has a clear vision for how technology like
AI will shape their future. When asked to think of innovations that
could make their adult lives easier, robots and machines that
undertake daily tasks like cleaning a room, going to work and
cooking, was the top trend to emerge from Generation Alpha.
Specific examples include:
- “A robot version of me to go to work so I could stay home and
relax and have fun”
- “AI technology that allows me to read people’s minds”
- “A ring that you can ask AI questions, such as the answer to
8x9”
- “Tech that can hear what I am thinking, then make it into an
onscreen image or 3D print out”
- “A bank card registered to my fingerprint”
- “A VR headset that I could wear as a policeman, that tells me
the identity of people I see around me”
- “A phone that does everything you ever need, opening doors,
locking doors, turning things on, so you’d only ever need a
phone”
- “Software that would understand what people really mean when
they say something”
- “A translator in your head that translates any language”
- “Football boots that measure all the stats of a game and dry
themselves”
Mehret Habteab, Senior Vice President of Product and
Solutions at Visa Europe, comments:
“Younger generations will force businesses, governments and
ultimately economies to change how they think and how they will
operate in the future. This change will happen much faster than
most realise. Understanding the expectations for a simpler and more
convenient life is vital for businesses to stay competitive and for
building thriving economies. It’s an exciting time to be doing what
we do, helping our clients and partners navigate these changes and
prepare for this new age of commerce. Only those who adapt quickly
will be successful in meeting the needs of this next
generation.”
Inspiring the next generation of innovators
To recognise the potential for this age group to revolutionise
economies, Visa will be inviting the next generation of innovators
to step into the role of inventor for a day. Collaborating with the
Visa teams who have spearheaded ground-breaking advancements in
payment technology, such as contactless, AI and tokenisation, one
of the group will have a chance to be appointed Visa’s first
‘Junior Chief Innovation Officer’. Applications will open in due
course and those interested in participating will be able to sign
up via Visa’s website.
About the research
Research commissioned by Visa and conducted by Opinium with 550
8-14 year olds. The research was carried out between 15th August
2023 and 22nd August 2023. The data was collected using an online
survey in the UK.
About Visa
Visa (NYSE: V) is a world leader in digital payments,
facilitating transactions between consumers, merchants, financial
institutions and government entities across more than 200 countries
and territories. Our mission is to connect the world through the
most innovative, convenient, reliable and secure payments network,
enabling individuals, businesses and economies to thrive. We
believe that economies that include everyone everywhere, uplift
everyone everywhere and see access as foundational to the future of
money movement. Learn more at Visa.co.uk.
1 Research commissioned by Visa and conducted by Opinium with
550 8-14 year olds. The research was carried out between 15th
August 2023 and 22nd August 2023. The data was collected using an
online survey in the UK 2
https://www.ethnicity-facts-figures.service.gov.uk/work-pay-and-benefits/employment/self-employment/latest#full-page-history
3
https://www.theiet.org/membership/member-news/member-news-2023/member-news-april-to-june-2023/gen-a-spending-more-time-online-than-offline-new-iet-research-reveals/
*Children applying must be between 8 – 14 years old, live in the
UK (which includes NI), have a parent or legal guardian’s
permission to enter (your parent or legal guardian must also live
in the UK (which includes NI), and have a parent or legal guardian
who consents to the terms of entry. Successful applicants selected
via a random ballot at least 30 days before the event and notified
with more details closer to the time. Enter between 14 November
2023 - 31 January 2024. 30 winners will be selected from the ballot
to attend the Junior Inventors' Day.
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version on businesswire.com: https://www.businesswire.com/news/home/20231114570772/en/
For further information, please contact
VisaUltConv@grayling.com
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