The 4th Revolution – how do we get ready?
This article was inspired by Rocky Scopelliti who shared this article on LinkedIn
So what is the 4th revolution?
This type of intelligent, interconnected ecosystem of mobile, cloud computing, analytics, automation, artificial intelligence (AI), the Internet of Things (IoT), 3D printing, autonomous robots, and augmented- and virtual reality (AR/VR) has been dubbed the fourth industrial revolution.
These technologies will add accuracy, efficiency, productivity and personalized customer service to business and industry in unprecedented ways and will lower the cost of doing business.
A 2017 Accenture study estimated the average U.S. company could save $85,000 per employee
A McKinsey Global Institute study estimated that intelligent automation technologies could save employers worldwide a staggering $15 trillion in wages by 2030.
Jobs displaced …
McKinsey concluded, estimated between 400 and 800 million current occupations could be displaced by 2030 – including
- physical labor,
- data collection/processing,
- retail, and accommodation/
- food services
We’ve been here before with the advent of PCs, Mobile and Internet transforming how and where people work.
… Jobs created
The World Economic Forum (WEF) Future of Jobs report in 2018 predicted strong employment growth in emerging sectors like AI, robotics and blockchain – but also in non-tech positions such as customer service, sales, marketing, training and skills development.
McKinsey estimates that between 1980 and 2015, the introduction of the PC displaced 3.5 million jobs in the U.S. — but also created 19.2 million new ones in the #Nexttechrevolution
- elderly care,
- green technology,
- consumer goods and services
Will the 4th Industrial Revolution will create more jobs than it destroys over the coming 10 years ?
McKinsey says yes ….estimating overall creation of 555 to 890 million new jobs by 2030.
… What we need to do
There will need to be significant workplace transformation
McKinsey estimates 75 to 375 million people will have to switch occupations and learn new skills by 2030.
“It is critical that governments , businesses and individuals need to take an active role in reskilling and upskilling.
Individuals need to take a proactive approach to their own lifelong learning
Governments and Enterprises need to create an enabling environment.
Workers need to learn to work alongside machines – which will increase productivity, employment and create abundance
As Heather McGowan says – the key is to teach our children to learn how to learn!
Lifelong learning will be a part of the DNA of every human and machine in the workforce!
– #australia2030 #industry4 #skills #reskilling #jobs #technology #digital #data #artificialintelligence #datascience #stem #science #engineering #humanresources #futureofwork
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