Today, many organizations and their teams are still mostly homogeneous. Talent is equally distributed; access to opportunities is not yet. Biases (incl. pedigree and credentials) and information asymmetries are largely self-imposed constraints that limit the global reach [of intellectual output] and prevent optimal solutions.

The power of digital knowledge work is that everyone is connected to the network and has an equal opportunity to participate. This sharing economy is not about sharing commoditized resources but rather about sharing the value that is unique to us as human beings.

McKinsey estimates that online talent platforms can ease several labor-market dysfunctions by more effectively connecting individuals with work opportunities. In countries around the world, 30 to 45 percent of the working-age population is unemployed, inactive in the workforce, or working only part-time. In Brazil, China, Germany, India, Japan, the United Kingdom, and the United States, this adds up to 850 million people. As online talent platforms grow in scale, they will become faster and more effective clearinghouses that can inject new momentum and transparency into job markets while drawing new participants.

A global talent pool is increasingly accessible. Hence, a lack of cognitive diversity is no longer excusable and will no longer be rewarded (over time, it will be punished with value destruction). The global penetration with high-speed internet, the availability of free high-quality education, the unbundling of the safety net from a traditional work arrangement, and not least the emergence of cryptocurrencies (39% of the world’s population are unbanked), and in particular stable coins, will further grow the talent pool. The rapid development in machine translation will contribute to overcoming the language barrier and, all else equal, substantially increase the global talent pool for knowledge work.