As many focus on the future of work, various different perspectives are presented. A common theme is emerging: Jobs will be there, but they will be very different within the next decade. This recent Article draws three conclusions:
- In 10 years time, 50% of jobs will be changed by automation – but only 5% eliminated.
- 9 out of 10 jobs will require digital skills.
- Young, low-skilled and vulnerable people – all need help with up-skilling.
Several critical points are made by the World Economic Forum article:
Over the next 10 years, 1.2 billion employees worldwide will be affected by the adaptation of automation technologies and AI. This is equal to 50% of the world economy and will disrupt US$14.6 trillion in wages.
The future of work will see a shift in demand away from office support positions, machine operators, and other low-skill professions – and towards technology professionals such as computer engineers and information communication technology (ICT) specialists.
Despite concerns about automation, business leaders are not adequately preparing their employees with those necessary skills. While 45% of business leaders communicate about automation initiatives, demonstrating their awareness of the situation, only 15% communicate about up-skilling initiatives.
The lack of up-skilling opportunities disproportionately affects populations who are already vulnerable today, who fill many of the low-skill jobs that will soon be fully automated. Without addressing this need, we are headed towards a future of increasing inequality.
To address the growing role of automation and AI in work, action must be taken. There is a need to grow and support existing up-skilling initiatives for vulnerable populations, and there is an equal need for increased involvement from business leaders and the private sector.
A separate Article from the World Economic Forum had this to say:
By 2022 alone, 75 million jobs will probably be displaced across 20 major economies, while 133 million new ones will spring up in industries that are only just gaining traction. At the same time, it’s estimated that nearly two-thirds of children who started school in 2016 will go on to have jobs that don’t yet exist.
The jobs picture is getting a little clearer – but a significant challenge remains. Core skill sets are changing, pushing the need for immediate action. The article above suggests several critical actions:
- Embrace life-long learning
- Foster inclusivity
- Start early
- Join forces with multiple stakeholders
I’ve explored the topic of Education in multiple posts throughout the years. A topic we must all pay attention to.
Reimagining the Future 
[…] explored the World Economic Forum’s continued focus on Purpose. Having just written about How Different Jobs will be in the next ten years, I read another Article on the need for a Global Reskilling […]
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The reason people go to college and major in a certain subject, is because they believe they will get a job as a result of their degree. A finance or accounting major typically doesn’t choose that as their major because they think it is fun. Rather, students join those fields because they want to make money. However, what students do not realize is that the odds are not stacked in their favor. It was discussed in class that the skills we learn in college today have a six year life span. Meaning that in six years, the jobs we worked so hard to earn will have new and unfamiliar demands. Frank Diana states, “In 10 years time, 50% of jobs will be changed by automation.” Technology is taking over, and every year a new software comes out that revolutionizes an industry. Therefore, the next generation will be learning material in college that we were never exposed to. This presents only one solution.
Life after college can not be lived by simply going through the motions. There has to be a constant pursuit of knowledge in order to keep up with the changing landscape of business. Even though 50% of jobs will be changed in 10 years, only “5% will be eliminated.” The same jobs will still be there, they will just be altered. My Dad went to college 40 years ago, and started working for an accounting firm in 1990. In order to keep his job and continue providing for my family he was forced to teach himself the new skills that arise from year to year. This is the reason my family and I decided that it was in my best interest to major in biology. Unlike the business world, the medical field remains consistent. There will always be sick or injured people that need to be taken care of, so a job after college is more certain. Offering further incentive, my mother works as a nurse at Jersey Shore Medical Center. Every year, the entire nursing staff is required to take an exam, keeping them briefed on all the latest medications and treatments. Its rare to find a field where employers hold themselves accountable for their employees education since, “only 15% (of business leaders) communicate about up-skilling initiatives.” In m case, I paired biology with finance. While they are an unusual pair, the abnormality of it can actually work in my favor. I had a conversation with a family member who is a lawyer and he told me that everybody applies to law school with the same couple majors; pre-law, economics, etc. When law schools look for students, they want someone who sticks out. Since my original goal of becoming a physical therapist fell through, I decided that I could still use a biology major as a compliment. In the competitive world of business, people are constantly searching for what can give them a leg up on the competition.
The world is moving to fast for excuses. “By 2022 alone, 75 million jobs will probably be displaced across 20 major economies, while 133 million new ones will spring up in industries that are only just gaining traction.” Instead of complaining, go take advantage of the growing and expanding market. With technology advancing, so are jobs. There will always be a place in the world for you in you make a place for yourself.
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As of today, we all live in a world of technology. Everyone is trying to have the new technology product out there. For example, when Apple released its new iPhone the iPhone 11 pro, most people went and got it just to be using the technology on the phone. Another example is the Tesla cars they are Electric cars and uses more technology than our regular cars. However, you see them now often on the road because people are trying to get used to the new technology. Technology changes every day and gets better and people try to be up to date and learn every new thing. A lot of businesses or companies trying to adapt to new technology and increase it. For example, Walmart and Shoprite have the self-checkouts that you can scan your produces, pay, and leave without interacting with a cashier. And people are liking this improvement or change in technology. They like to do the self-checkout rather than waiting in a long line. Additionally, there are different ways to pay that involves technology, for example, Apple pay. If people do not have their credit card or if they do not want to get it out, they just could get their phone out and use their Apple pay to pay.
All of there technology is beneficial for all customers and employers for making our life’s easier. However, it could be scary for some employees. According to the article, “By 2022 alone, 75 million jobs will probably be displaced across 20 major economies, while 133 million new ones will spring up in industries that are only just gaining traction”. This shows how many people will be losing their jobs soon, especially that 2022 is not that far. However, the author mentioned that 133 million new jobs will be created, but does employees will adapt quickly enough that it will not affect our economy badly. Companies and industries need to give people time and a chance to learn new specialized skills, gain knowledge, and experience.
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