Blame it on the youth they say. Indeed, there’s a great assumption that the future of technology falls in the hands of emergent generations. The youth of today will someday represent the majority of consumers, employees and citizens. That’s always the case, but what we don’t yet fully appreciate is just how different young adults think today. We don’t yet understand what it is they value and why. We’ve not yet assimilated how they make decisions and what factors influence their daily activities and journeys.
Generation Y, also referred to as Millennials, and Generation Z represent those individuals born in the late 1970s or the early 1980s to the early 2000s. They follow Generation X, my generation, and they are already a powerful force in the future of the global economy and politics.
70 million people in the U.S. belong to the Millennial Generation aka Millennials today. Millennials also represent 35 percent of the workforce today, and by 2014, they will comprise of almost half of all employed professionals. In a separate study conducted by Millennial Branding, it is expected that by 2025, Generation Y will represent 75 percent of the workforce.
Right behind them is Generation Z. And as they grow up, they too will have a profound impact on society. In fact, they already do. In the United States, Generation Z is said to already control up to $30 billion in spending.
What’s different about these generations than those before them? Gen Y and Z were born with digital in their DNA. While that may seem like a given, it is the very detail that separates them from their parents, teachers, businesses, governments, and any organization other than those already run by Gen Y and Z. As a result, our society splits into two camps, those who “get” these connected generations and those who do not or will not. READ MORE