Author | Esther FuldauerTechnology is evolving at the speed of light with evidence of the changes happening in every industry. Companies across the globe are exploring robotics, automation, machine learning, and artificial intelligence to reimagine the way they do business. Many jobs will see how they benefit from new tools, and new skills will be necessary, but at the same time, many jobs will go. The changes taking place in the workforce are unprecedented and the future of work, uncertain.The term "Fourth Industrial Revolution" was first introduced by the founder of the World Economic Forum, Klaus Schwab in 2015 in an article in Foreign Affairs: The Fourth Industrial Revolution. Like the first three other industrial revolutions, the changes will speed up production, but they will also mean significant challenges to people. Other industrial revolutions were nothing like this one, which has no precedent in terms of speed and breadth of change. Can people adapt at the same pace as technology evolves?In the past, we were adding muscle or mechanization; you had physical power which to perform a task faster. If you were doing routine work, you could add some degree of automatization to take out some repetitive tasks. But this time around feels very different as machines can have cognitive skills that seem to replace humans in jobs we thought could only be performed by humans.And the question then arises whether if people will be able to work and earn enough to be able to make a living or not. First jobs to disappear will be those that we perform like machines; new ones will emerge too. The general optimist argument is that the growing demand for new roles will offset the loss of some more conventional jobs. However, even though the gains will be significant, a lot of workers will suffer along the way and will need re-skilling or even a change of career. At the same time, companies will need to find new talent and rapid learners. The McKinsey Global Institute predicts that up to one-third of the American workforce will have to switch to new occupations by 2030.
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