Since the industrial revolution in the 19th century, technologies have been changing, growing and adapting at an ever-increasing rate. We currently live in a period called “the Fourth Industrial Revolution” by some, in which advances in AI and automation are revolutionizing and disrupting well-established roles and professions at an unprecedented pace. How unprecedented?
The World Economic Forum’s 2018 Future of Jobs Report predicted that by 2022, 75 million jobs across 20 major economies will be displaced by emerging technologies. This doesn’t mean people are being pushed out of the job market, though. The same report predicts that 133 million new roles are expected to be created by these very same technological advances. That’s good news for people in the workforce, but these new jobs and requirements still require relevant training.
But new types of jobs aren’t the only factor to take into consideration. In his book, A Whole New Mind, Daniel Pink identifies two more forces in addition to automation as key drivers in today’s economy that make up- and reskilling so mission critical: Abundance, and Asia.
In order to stand out from the rest of the competition, both domestically and internationally, companies need to differentiate themselves and make their value proposition shine brighter than others. To do so, having an agile, diverse and creative workforce that is continuously learning, adapting, acquiring and perfecting new skills is absolutely essential.
On top of all this, we are now undergoing the greatest financial crisis of our times – a fact which requires companies to think fast, and react even faster in order to survive. This makes upskilling and reskilling indispensable practices in any organization.