#WEF 2016 : 5 Million Jobs On the Line!

The Fourth Industrial Revolution Is Upon Us!

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The Fourth Industrial Revolution, largely comprising of developments in previously disjointed fields such as artificial intelligence and machine-learning, robotics, nanotechnology, 3D printing, and genetics and biotechnology, is already well underway. This Fourth Industrial Revolution (#4IR) is expected to cause widespread disruption not only to business models but also to labour markets over the next five years.

The Prediction

Because of the rapid and continuing advancement in technology,  enormous change is predicted in the skill sets needed to thrive in the new labour landscape. This is the finding of a new report, The Future of Jobs, published today by the World Economic Forum. The report is based on a survey of chief human resources officers and top strategy executives from companies across nine broad industry categories and covering 15 of the world’s largest economies. These are; Australia, Brazil, China, France, Germany, India, Italy, Japan, Mexico, South Africa, Turkey, the United Kingdom and the United States, plus the ASEAN and GCC groups.

These predictions are likely to be relatively conservative and leave no room for complacency. Yet the impact of disruption will vary considerably across industry and gender as well as job type. For example, healthcare is expected to experience the greatest negative impact in terms of jobs in the next five years, followed jointly by energy and financial services and investors. The industry that stands to create the most jobs, perhaps less surprisingly, is information and communication technology, followed by professional services and media, entertainment and information professionals.

What You Can Do

While this startling news has already made headlines around the world, it’s critical that you as an individual you may have a critical look at your current career path, its future prospects and opportunities. While it is largely expected that the ICT industry will experience a jobs boom in the next few years, at the expense of other dying industries, it is prudent for you to ensure that you have highly polished ICT skills, as part of your existing skills set. This does not mean that you now have to be an I.T expert, what will be crucial is having an ability to use technology effectively  as leverage to improve, enhance and perhaps automate (to some extent) some of the work that you currently do. Technology should be seen as an important enabler, and/or useful tool that one can employ time and time again, as opposed to an huge evil force that is taking away all the jobs.

Plan carefully and enroll into the skills training that you need to stay relevant in the coming years, as the Fourth Industrial Revolution unravels, as the WEF Founder rightfully said “The Fourth Industrial Revolution will affect the very essence of the human experience”

 

 

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