The world is in the midst of the fourth industrial revolution.
As innovations continue to be introduced, the way we go about our daily lives will constantly change, as well. These developments will cause dynamic differences in how we perform personal tasks, interact with others, and most importantly, the way we approach work.
With this trend in mind, people from around the globe will inevitably encounter great socio-economic changes in the years to come.
In our previous blog regarding the future of work, we mentioned skills that you’ll need to develop to thrive in the year 2020. For this infographic, we’ll discuss relevant statistics on how technology may impact your career in the years ahead.
But, before we move on to the data, let’s have a quick refresher on what the fourth industrial revolution means.
Klaus Schwab, the founder of the World Economic Forum, described the fourth industrial revolution as follows:
“A technological revolution that is blurring the lines between the physical, digital, and biological sphere.”
Technology is evolving at a tremendous pace. Similar to how old businesses adopted the steam engine in the first industrial revolution, more organizations of today are also utilizing the latest technological advancements.
Unfortunately, not all countries and governments are able to keep up with the changes this era brings. When compared with previous revolutions, the fourth industrial revolution is disrupting almost every single industry in different countries.
Both established and developing countries will experience the challenges that this revolution brings. As artificial intelligence (AI), robotics, and other innovations take over the jobs of people, complex social and economic changes are bound to follow.
In an economy that’s getting more competitive by the day, improving your skillset is a must to increase your employability. However, relying on your current capabilities alone won’t be enough to stay relevant. To get through this revolution, you need to have a clear understanding of how it will impact your career.
Knowing the trends of today will give you insight on how you should go about your career decisions by 2025 and beyond.
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As companies adopt the latest technologies, it’s expected that they’ll require a smaller workforce to maintain their operations. Even though policies and economic stability may vary from one country to another, both developing and established nations will be affected by the challenges of the fourth industrial revolution.
Source: The Economist
The fourth industrial revolution will seriously impact every organization. However, stability rates among industries and occupations may still depend on specific circumstances. Other than the kinds of tasks a job requires, government policies and other social factors will also play a huge role when it comes to employment.
Source: LinkedIn
Jobs that require physical labor are greatly affected by technology. Machinery and the latest equipment continue to make work more efficient and minimize the number of people necessary to get a job done.
Standing at a vulnerability rate of 65%, the food preparation industry is the most susceptible to automation, followed by construction and cleaning jobs at 59%.
For a more detailed list, visit the source mentioned above.
Source: PwC
With technology slowly taking over the jobs of others, a lot of individuals are understandably feeling anxious about automation doing the same. It’s a fact that technology will change the way we work, but worrying excessively won’t solve anything.
Take action today and focus on developing your own competence. Apply for short courses, attend seminars, and purchase video training sessions that can help you enhance your current skillset.
Source: The Institute for Working Futures
As industries evolve, people will need to improve, as well.
Most jobs are now heavy on technology. Basic knowledge of office software and applications have now become a necessity. Unfortunately, 6 out of 10 adults lack essential information communication technology skills. This shows how crucial personal development is.
Investing in life-long learning will allow you to adapt to the landscape changes the future will bring.
Source: PwC
It’s true that robots may not be able to develop social and cognitive skills that humans possess, but we can never tell what other innovations will come out in the years to come.
Employees that are working under healthcare, customer service, and other related industries may be enjoying a period of stability, but it’s always a good option to stay open to opportunities for learning.
It’s highly possible that robots will eventually develop a better understanding of human interactions. With the emergence of chatbots in the retail and customer service sectors, similar innovations will likely enter and perform tasks in other industries.
Source: OECD
Despite the challenges brought about by the fourth industrial revolution, the rise of global employment rates contradicts the presumption that machines will take over the jobs of people.
Innovations such as AI and robotics may be getting increasingly utilized in the workplace, but the statistic shows that we’re not headed towards a dystopian future. Even though automation can make work more efficient, the increase in global employment rate is a direct indication that robots can never take over the tasks of humans entirely.
As long as you continuously work on improving your skill set, you won’t have to worry about robots stealing your work for years to come.
Source: World Economic Forum
If you’re worried about not having a job in the future, you’ll be relieved to know that most of the jobs today weren’t around 50 years ago.
Similar to how the introduction of mobile apps paved the way for app developers and designers, your job in the future may still not exist today. If you eventually face a need to make a career shift, staying informed on the latest updates and trends across industries will make your transition seamless.
Source: The Institute for Working Futures
Jobs that require technical approaches will eventually be automated. However, occupations that will require emotional intelligence, empathy, and patience will continue to stay relevant. This means healthcare professionals, client success managers, and other service-related occupations will eventually have a boost in employment rates.
With this in mind, make it a point to develop your soft skills. The way you interact with people, the way you manage your time, and the way you handle pressure may end up becoming your main selling point in the future.
Source: World Economic Forum
To perform well in the field of media and entertainment, employees must be able to think outside of the box and consistently come up with fresh and innovative ideas. Even though the information industry requires reporters to be factual, a need for subjective analysis is also imperative for success.
AI boasts impressive capabilities, but since it relies heavily on machine learning and pattern recognition, it will never match human creativity. It may have found its way into different creative industries, but the only thing it’s genuinely useful at is providing recommendations to content creators.
The artistic taste of individuals are limitless, and success in these fields will ultimately depend on how individuals can express their creativity. If you want to increase your marketability further, developing creative skills can help you gain an edge in the recruitment race.
The fourth industrial revolution may seem very intimidating for some individuals, but it actually presents a great number of possibilities. As technology continues to change the world, adapting to these trends will allow you to experience every single benefit that this era will bring.
In a highly competitive economy, preparation will be your key to success.
As high-performing professionals, this revolution is a reminder for you to develop yourself further. You may be enjoying comfort today, but you’ll never know what the future can bring. Investing in personal development courses and skill training are some ways you can enhance your employability today.
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