Industrial Revolution 4.0

The Industrial Revolution 1.0 was the transition to new manufacturing processes and many technological innovations. More and more people had begun to start working in the factories. It changed many of the existing jobs, but also created many other jobs in the factories.

Automation could pose a threat to existing jobs. By the mid-2030s one-third of all jobs could face the risk of being automated, according to a report from PwC. Repetitive jobs could be majorly affected while those that involve creativity could be affected less.

The effects of automation would vary by industry. The autonomous vehicle industry could take away many existing jobs in the future. The health and education industry could be transformed with the advances of AI, AR/VR technology. AI and robots could act as an effective tool that aids their work rather than replacing them.

Automation could lead to a rise in reskilling and the adoption of new technology. According to the WEF report,

“ Seven key professional clusters appear to be emerging in tandem. On the one hand, these reflect the adoption of new technologies — giving rise to greater demand for green economy jobs, roles at the forefront of the data and AI economy, as well as new roles in engineering, cloud computing, and product development. On the other hand, emerging professions also reflect the continuing importance of human interaction in the new economy, giving rise to greater demand for care economy jobs; roles in marketing, sales, and content production; as well as roles at the forefront of people and culture. “

In the future, we may be working hand in hand with technology to solve the problems of tomorrow. Many repetitive jobs may become automated. Many skills may not be as important for the job market as it was before.

With these new changes, we will have to learn to adapt to the future with technology.

References:

Jobs of Tomorrow: Mapping Opportunity in the New Economy

A short history of jobs and automation

Council Post: How Will Automation Affect The Job Market? 15 Coaches Share Their Predictions