5 Million Jobs Will be Lost to the 4th Industrial Revolution: Are You Ready? [Infographic]

October 9, 2016

Did you know that, as of now, we are at the beginning of the 4th industrial revolution? Marked by rapid advancements in artificial intelligence, genetics, nanotechnology, biotechnology, 3D printing, robotics etc. it has led to massive transformations, not only in the way people live, but also in the way they work or are employed.

The World Economic Forum has been able to predict, with the help of the data they collected from an extensive research on the future of jobs, that nearly 5.1 million jobs will be lost (with a total loss of 7.1 million jobs and a total gain of 2 million jobs) over the period 2015-2020, due to the disruptive changes caused by the technological revolution that is underway.

While advanced software, AI, robots, machines etc. have made everyday tasks at home as well as complex work at work much easier (while proving to be cost-effective at the same time), they have rendered human input obsolete. Most jobs, such as bookkeepers, retail assistants, pharmacists etc. are already being replaced by AI software and robots that can finish the job faster. This trend is expected to intensify over the next two decades, leading to the extinction of most jobs that were exclusively done by humans a decade ago.

The silver lining in this looming job crisis is the necessity of new jobs that will be born out of the need to deal with the inevitable transformation caused by 4th industrial revolution. Over the coming years, a growth in software and IT related jobs can be expected. As the world comes to rely increasingly on alternative energy, jobs in the sector will skyrocket. A sharp rise in the number of entrepreneurs and freelancers can also be expected within the next 5 years. While most office and administrative jobs will die out, a new set of jobs, such as senior managers, data analysts etc. will be generated to support the growth of corporations.

With the formation of new jobs types, the recruiting patterns of companies as well as the skill requirements will alter substantially. Individuals will be expected to have advanced technical skills, critical thinking and negotiation skills etc. Improving these skills will be the only effective way to future-proof oneself against the inevitable change that’s coming.

The below infographic shows how what types of jobs are under threat and what kind of skills you need to survive the 4th industrial revolution.

5 million jobs will be lost to the 4’th industrial revolution, are you ready

The above infographic was made using Creately and the original version can be found at robots taking over human jobs info-graphic.

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