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How The Fourth Industrial Revolution Is Impacting The Future of Work

With every industrial revolution comes refining shifts to social, economic, environmental and political systems that truly alter the course of humanity.

Technologies like artificial intelligence (AI), nanotechnology, quantum computing, synthetic biology and robotics will all drastically supersede any digital progress made in the past 60 years and create realities that we previously thought to be unthinkable.

According to McKinsey, up to 375 million workers may need to changetheiroccupational category by 2030, and digital work could contribute $2.7 trillion to global GDP by 2025.

Faced with the scale of the unstoppable shifts in workforce demands, we must address the challenges associated with workforce transformation, starting by taking an in-depth look at its impact on the world of work.

Technological:For most global industries (e.g., logistics, financial, manufacturing, aerospace, etc.), advancements in AI, robotics, 3D printing and the internet of things will put a great deal of pressure on companies to automate in order to remain competitive in a global landscape.

Employers are focusing on the skills required to achieve their business objectives and remain competitive and agile, which requires them to ensure their employees the necessary training to fill these skills gaps.

The Fourth Industrial Revolution will provide us with an opportunity to learn and teach new skills, build new jobs requiring unique skills combinations that don’t exist today, explore talent that we didn’t know about and, in doing so, grow our businesses and create a new generation of workers that are highly skilled in more diverse areas.

governments need to utilize advanced technologies to generate real-time and predictive insights on the labor market in order to develop sound policies, programming and budgets;

Education and the Fourth Industrial Revolution

Policy briefings from across the global political spectrum as well as organisations including OECD, McKinsey, Bank of England and MIT have been able to identify the breadth of jobs that are likely to be threatened by technological advance noting, for example, that “rapid progress in AI indicates a much broader range of jobs than previously thought could be carried out by machines” (OECD, Future of Work, 2013).

Whilst economists, futurists and other experts have been good at predicting the demise of jobs they haven’t been great at pointing to the new jobs that will emerge, whether people will be equipped to do them and whether they’ll produce adequate income.

There are three key areas where humans beat machines that are key to future job creation: It’s beyond doubt that education is at the heart of preparing present and future generations to thrive.

This won’t be easy given the perverse financial incentives of an education model rooted in the late 19th century, driven by an antiquated text book and measurement industry that regards teaching as delivery rather than design.

Toffler wasn’t suggesting that reading and writing would become unimportant, he was emphasising that in times of rapid change in an uncertain future the most valuable skill would be learning how to learn rather than simply reciting a set of facts and procedures.

How Mercedes Is Preparing For The 4th Industrial Revolution: Big Data, Machine Learning And Drones

In an era of great uncertainty and disruption for automotive manufacturers, Mercedes and its parent company Daimler are jumping in full throttle as leaders of the 4th Industrial Revolution.

Passenger drones: Dubai may have drawn the line in the sand to say they wanted to be the first in the world to make a flying taxi service available and has a goal to have 25% of passenger transportation through autonomous vehicles by 2030, but Volocopter, backed by Daimler, is making their vision come true.

The maiden flight took Dubai Crown Prince Sheikh Hamdan bin Mohammed on a five-minute, 200-meter journey, but they ultimately want to be able to offer rides up to 30 minutes on the unmanned flying vehicles.

Mercedes is Off to the Races with Machine Learning Literally, Mercedes teams won 51 of 59 car races between 2014 and 2016 using big data and machine learning to conduct simulations and glean insights about the best conditions and adjustments needed to compete on the race track.

Digitalization of Factories, Sales, Customer Experience at Daimler Daimler appears to be fully committed to the 4th Industrial Revolution when you look at the digitalization of its factories, sales and customer experience efforts—all made possible through the technology of big data and machine learning.

Digitalization of factories allows Daimler to have real-time knowledge of supplies, efficiently respond and adjust to the customization required for each vehicle as demanded by today’s consumer and helps Daimler be flexible, efficient, quick and smart in its production of cars.

Because production is connected, the customer gets to joyfully anticipate their new car and follow it from contract to creation along the production route with a new tool called Joyful Anticipation.

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