Technology is continually evolving at a rapid rate. While this is good news to all, the pros of advanced tech don’t come without cons. The Organization for Economic Co-operations and Development (OECD) released a 2018 report that states machines could automate 14% of current jobs. That means people working those jobs could be unemployed or redeployed in other job functions.
The projection of these figures is growing at an alarming pace. In 2016, studies revealed that robots are expected to replace 5 million jobs by 2020. However, updated reports in late 2017 are now saying that automation is threatening 800 million jobs by 2030. That’s a colossal figure that has a significant impact on a lot of workers in different industries.
Adapting to the New Age of Work
During past industrial revolutions, the way people lived and worked. Businesses across various industries had to either adopt new technologies and systems or cease to exist. Workers had to update their skills or risk being unemployed. The same is true now.
This generation marks the fourth industrial revolution. The rise of artificial intelligence, the Internet of Things, and biotechnology, to name a few, will replace repetitive work. With that in mind, it’s important to think of how your company will hire talent in the future.
What skills will be required to thrive in the workplace for a few years from now? What does your company need to ride the wave of automation? These are great things to ponder.
Yes, jobs may be lost, but new positions will arise to address the needs of the modern world. What’s important is for workers and employees to ensure that their skills stay relevant to industrial innovations and technological improvements.
As early as now, it’s a good idea to launch employee training initiatives for your current team so you can already see the other areas where their talents can shine best. A comprehensive employee training program will not only benefit your company but your employees as well.
Management should also learn to adapt and strengthen the skills required for their jobs. Even though machines excel in systematic and mathematical skills, they won’t be able to replace humans in situations that need motivational, creative, and empathetic roles.
These situations include managing groups of people, spearheading projects, and coming up with novel ideas. Machines will only follow what humans command them to do. This requires a new level of soft skills, people skills, critical thinking, and emotional intelligence, to name a few.
Technology will also quicken the pace of the already fast work environments people are accustomed to, which will require sound judgment and excellent decision-making skills for crucial moments.
New Opportunities to Arise
It’s also important to keep in mind that some jobs that didn’t exist before will now be on the market, and the same changes will also increase the demand for other job functions. Adapting to that change requires the same new skills that the new generation of workers should possess in the coming years.
Some of the most sought-after jobs in the coming years would be data analysts, medical experts, and marketing specialists. Each company would have unique needs that will support the growth of their business however they see fit.
Technology won’t stop advancing, and you may see more jobs being replaced in the future. While this may sound terrifying, it’s encouraged to look at this as a learning opportunity for people to grow in areas that have been previously unexplored.
Disclaimer: This is a guest post.
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