- So far, the rapidly industrializing and urbanizing
world of the 21st century has largely continued
to produce enormous amounts of new opportunities.
Employment, despite growing ranks of illegible workers,
has remained high on average.
But what might the dimensions of a
fourth industrial revolution mean to an individual,
either with their career ahead, or even well into a career?
Many indications are positive.
As some occupations have waned,
others have blossomed.
In some nations, there may be less mining
or manufacturing jobs, but there are many more jobs
in clean energy or health and computer science.
In fact, in some areas, there will be huge shortages
in areas such as nursing, pilots, teachers,
technologists, engineering and more.
So, is there a case for blissful optimism?
Maybe not so fast.
While the following is somewhat speculative,
it's important for us to understand some possible
difficult employment challenges that the
fourth industrial revolution may present.
Being successful in a new or existing career
will largely depend on the type of work that you do.
Many opportunities may be lucrative right now,
but looking ahead, automation may present
a significant threat.
There are a number of studies on the potential
for automation technologies to impact human jobs.
While they often differ in scale and timing,
they align around a common theme.
Many jobs will be replaced by our AI-driven,
digitized, and mechanized robot associates.
One study suggested up to a third of global jobs
could be displaced as soon as 2030.
In the United States, the number could range from
16 to 54 million impacted workers,
and globally over 375 million people
may need to be retrained for other work.
The more the job is left-brained,
predictable, and highly paid, the greater the chance
for replacement by labor-saving technology.
Jobs associated with machine operation,
food preparation, the collection and processing of data,
legal and accounting, are all candidates.
Safer jobs will include those that are
far less repetitive and much more creative.
They include managers, scientists, healthcare providers,
educators, gardeners, plumbers, and eldercare providers.
Looking even further out, the new economy
of the fourth industrial revolution
will create amazing new employment opportunities
that we can't even imagine right now.
It will create a huge need for retraining.
More education will be required for jobs
that have greater technical skill requirements.
Unemployment could skyrocket and a whole new phenomena
of a class of unemployable people may emerge.
These are the people who might be unable to participate
in the new economy, due to limited educational or inability.
For these, we'll need new ideas
and a rethinking of our social safety nets.
The idea of a Universal Basic Income, or UBI,
is gathering momentum as a way to manage inequity
caused by unevenness across the spectrum of society.
It will be provided by government to all citizens,
to ensure that everyone had enough money to live.
Those already earning could collect UBI
but would not see the benefits as their overall
income level would be subject to a UBI tax.
It's a fascinating idea
that should not be quickly dismissed.
There is much to think about here,
and this will form the basis of action for many individuals.
Equipped with this knowledge, the right set of decisions
could enable more of us to be winners
in the fourth industrial revolution.