It’s the new term that’s been dominating industry talks and circulating across various media. But what is the 4th Industrial revolution and what will it mean for the job-sphere?
What is the 4th Industrial Revolution?
The 4th Industrial revolution refers to the current & developing environment in which new technologies and trends are changing the way people live and work. Developments like the Internet of Things (IoT), Virtual Reality (VR), artificial intelligence (AI) and robotics are all to play a part in the changes that are being wrought.
What does this mean for jobs?
The prospect of a future in which robots and computer systems can perform many human tasks is one which is concerning to many- but this new era may also bring in many exciting new developments for employees.
These new technological developments – like AI and automation- will require people to adapt to them and learn how to enhance the existing processes with the new technology. Jobs that require a high level of physical work or repetitive tasks are more at risk of being affected. Industries reliant on human characteristics are harder to replace and will be less affected, as skills like creativity and empathy are harder to replicate through machines. These skills and several others are likely to become more in demand and more appreciated.
The most significant change will likely be the birth of new areas of work, particularly related to the creation and designing of automated and online processes. Industries likely to see significant growth in the future include AI, robotics, nanotechnology, 3D printing, biotechnology, autonomous transport, genomics and more.
For those worried about their long-term job prospects, it is valuable to remain aware of the skills that are in-demand and the skills that will be needed in future. These skills can offer a significant advantage to jobseekers or workers looking to integrate with the technological advancements.
The top 10 skills needed to flourish during the 4th Industrial Revolution
According to the World Economic Forum, there are 10 critical skills that can help workers remain in-demand during the changes brought by the 4th industrial revolution. They are:
- Complex problem solving
- Critical thinking
- People Management
- Coordinating with Others
- Emotional Intelligence
- Judgement and decision making
- Service Orientation
- Cognitive flexibility
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