Preparing for the Industrial Revolution 4.0
“We stand on the brink of a technological revolution that will fundamentally alter the way we live, work, and relate to one another.”
- Klaus Schwab, The Fourth Industrial Revolution.
We’re on the cusp of an industrial revolution. Like the previous three industrial revolutions, the fourth industrial revolution promises to exponentially change the way we work and live. The industrial revolution 4.0 is not just another buzzword. In fact, it’s expected to take digital technology to a completely new level through the Internet of Things (IoT), access to real-time data, and the introduction of cyber-physical systems.
What is Industry 4.0?
Coined by Prof. Schwab, the term “Industry 4.0” is a blend of emerging disruptive technologies such as Robotics, Nanotechnology, Artificial Intelligence, Quantum Computing, Internet of Things, Blockchain and 3D Printing. The fourth industrial revolution (4IR) will be powered by intelligence over high-performance digital networks. At the basic level, the Industrial Revolution 4.0 is expected to unite the digital and physical worlds, offering a systemic shift across many sectors and aspects of human life.
Are You Ready for the Fourth Industrial Revolution?
Equip Yourself with 21st Century Skills
Millions of graduates in the country remain unemployed, while employers are unable to fill up vacant positions due to the mismatch in the candidate’s skills and employer’s needs. As the industrial revolution is set to disrupt the sectors of the global economy and massively impact the job market, graduates need to learn specialized technical skills to future proof their career and stay ahead of the competition. The introduction of automation will see many routine jobs disappear while new categories of jobs are expected to emerge soon. There are many courses on Design Thinking, Machine Learning and Big Data Analytics, which can help students prepare for opportunities offered by Industrial Revolution 4.0 as this will evolve over a period.
Get Soft Skills Training
The future of work is likely to herald a range of jobs. While technical skills are extremely important, soft skills have also become imperative for the future of work. Since they are unlikely to be automated, these skills are expected to become more desirable in the future. Also, since soft skills are difficult to teach, employers will be looking for candidates who already have these skills. Some soft skills that are predicted to be essential for the future workforce include communications skills, problem-solving abilities, collaboration, risk-taking abilities, people management, emotional intelligence, creativity, and critical thinking.
Be Job Ready
Foundational workplace readiness skills such as resume making, basic math, time management, professionalism, etiquettes, attendance, etc. are crucial to not just ensure individuals’ entry into the workforce but also necessary for them to maintain employment. These skills allow employees to think and make intelligent decisions. The workplace readiness training helps the workers perform their job duties and provide them the confidence and proficiency to pursue advancement opportunities.
Employers too need to brace themselves for the technological revolution as less complex work gets automated and the need for specialized skills and complex jobs increase. Most CIOs and leaders are today grappling with how to upskill their current workforce to take on new work responsibilities made possible by Internet 4.0 and to recruit new employees with the right skills. Retraining programmes that promote lifelong learning can help bridge this gap and help employers prepare their organizations for the changes to come.
Tell us how you and your organization have been preparing for industry 4.0 disruption?