Getting ready for the ‘Fourth Industrial Revolution’
The disruptive technologies have always shaken the status quo of the job markets. The first power looms was built-in 1785, and by the 1850 there was 260,000 power looms in England, and traditional weavers were out of business and work in no time, despite brutal protests!
Fast forward to 2018, look at “Workopolis List” of new jobs in demand and decline of ten old jobs:
Occupations with the largest projected job declines
1. Farmers, Ranchers, and Other Agricultural Managers
2. Postal Service Mail Sorter, Processors, and Processing Machine Operators
3. Sewing Machine Operators
4. Postal Service Mail Carriers
5. Switchboard Operators, Including Answering Service
6. Postal Service Clerks
7. Cooks (Fast Food)
8. Miscellaneous Agricultural Workers
9. Data Entry Operators
10. Word Processors and Typists
The 20 biggest technologies of fourth industrial revolution: Fourth industrial revolution is also known as the age of ‘cyber physical systems’ a step above the previous ‘information age’ industrial revolution. The main theme behind this revolution is ‘automation’, ‘cloud computing’ and ‘electronics’. Following reports pushed me to research on the new trends:
- ‘Bureau of Labor Statistics’ estimates – that management analysts, accountants and auditors will experience double-digit growth through 2024.
- Intuit report [get PDF here] projects that more than 40% of U.S. workers will be independent contractors by 2020
- Gartner – Top 10 Strategic Technology Trends for 2018
- Forbes The jobs with the brightest future
During first Industrial Revolution intellectual and artistic hostility towards the new industrialization was obvious in the works of artist and poets like ; William Blake, William Wordsworth, Samuel Taylor Coleridge, John Keats, Lord Byron and Percy Bysshe Shelley.
I must Create a System, or be enslav’d by another Man’s. I will not Reason & Compare; my business is to Create.
William Blake’s – Jerusalem The Emanation of the Giant Albion.
Least safe jobs, does AI kills jobs?
What is AI’s edge over humans: Algorithms and robots are better at repetitive tasks and solving problems that involve crunching large, well-organized data sets.
Human edge over AI: AI and algorithms are not good at is dealing with ambiguity and gray areas. Nor do they get “context or nuance”. That is why AI is bad at making judgment calls, but humans are fast and accurate. the ‘Big data’ of tech giants need lots of human beings to sort, organize, cleanse, and prepare the data to be analyzed by the algorithms. There are more opportunities for humans with critical thinking skills even with automation. Robots and AI won’t be fixing your plumbing or building skyscrapers. Future Jobs are STEM (Science, technology, engineering and mathematics) jobs, and hardest hit are unskilled labor job market. Safe jobs bets can be placed on those jobs where there is less automation. By same token, least safe jobs can be potentially automated:
| Least safe jobs | Safe jobs |
| TelemarketerLoan officerCashiersParalegal and legal assistantTaxi driverFast food cook | Reports, CorrespondentsMusicians and artistsSingersLawyersPhysicians, surgeons and health relatedElementary teachers |
- Computer vision engineer
- Machine learning engineer
- Network analyst
- Security analyst
- Cloud engineer
- App developer
- Business intelligence (BI) analyst
- DevOps lead
- Data Base Administrators (DBAs)
- User Support specialists
Look at following compiled list of big innovations:
| Top 20 innovations of fourth industrial Revolution | |||||||
| Autonomous vehicles | Behavioral Science | Human enhancement | Precision medicine | ||||
| Advanced materials | Biotech | IOT- Nano sensors | Renewable energy | ||||
| Artificial Intelligence | Blockchain | Quantum computing | Robotics | ||||
| Augmented Reality | Cyber security | Neuroscience | Next gen battery | ||||
| Big data & analytics | Drones | Nano technology | 3D printing | ||||
| Most in demand Jobs in 2020 | |||||||
| Data Analysts | Physicians and therapists | Sales and marketing specialists | CSR representatives | ||||
| Management Analysts | Software developers | Veterinarians | Product design and creation | ||||
| Teachers | Accountant and auditors | Medical technicians |
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