The Fourth Industrial Revolution: Technology, Training and Preparedness for the Future

The Fourth Industrial Revolution: Technology, Training and Preparedness

As you may have heard, technology is changing more rapidly with time.  How this unprecedented change will happen cannot be predicted in advance. 

“We are entering the era of the Fourth Industrial Revolution,” said the World Economic Forum in a report titled ‘Future of Jobs’. 

Different technologies such as artificial intelligence or AI, machine learning, robotics, nanotechnology, 3D printing, genetics and biotechnology were previously researched separately.  But now while researching any of these technologies other technologies are being used.  In the near future, job seekers will need to become proficient in a variety of technologies, skills that are not yet required for employment. 

The only way to survive in this new industrial revolution is to lead or stay ahead of it.  For this, two things are needed as an institution.  One is to be aware of all the technologies that can bring revolution.  And two, to develop a talent pool in organizations that can leverage these technologies.

Here are 10 of the technologies that are going to change the world economy by 2025.  These technologies will come in different sectors.  So mastering various types of these technologies will be a very difficult task.  Moreover, every advancement in the field of technology is being presented as a big event.

10 technologies have been listed in this article by analyzing the report of the management consulting firm ‘McKinsey Global Institute’ and the opinion of the experts of the software firm ‘Pluralsight’.  Not every one of these technologies will completely change the traditional business practices and social image.  But some of these technologies will certainly change the old status quo.  At the same time it will bring changes in people’s way of working and living. 

1.  Mobile Internet

Currently, various types of computer work can be done with mobile phone technology.  So there will be massive changes in various areas like mobile internet, interface, format, sensors and apps.  By 2025, at least 5 billion people will use the Internet through mobile phones.

2.  Artificial Intelligence or AI

Some technologies like machine learning and user interface are going to be widely used in the future.

Some technologies like understanding human speech and gestures will become more advanced.  If these technologies come in hand, the productivity in various industries will increase a lot and the burden of many knowledge-based jobs will fall off the shoulders of people..

3.  Virtual and Augmented Reality

According to investment banking firm ‘Goldman Sachs’, the virtual and augmented reality technology market will reach $80 billion by 2025.  Virtual and augmented reality will bring major changes in the technology landscape.  It will simultaneously revolutionize the experience of using technology at the consumer and institutional level.

4.  Cloud technology

Over the past decade there has been much speculation about the future of cloud technology.  And this technology will make a big contribution in the future.  Cyber ​​security will continue to improve in the future.

As a result, the use of cloud technology in business organizations of various industries will increase.  In this way, all IT services and web apps will run through cloud technology..

5.  Internet of Things

Currently, more than 14 billion devices are connected to the Internet.  This number is estimated to increase from 50 billion to one trillion within the next decade.

All organizations can then be monitored with the help of these devices.  For this reason, various types of products or devices related to security management will come to the market.  It will also create many new jobs.

6.  Advanced Robotics

The use of artificial intelligence, machine vision, sensors and hydraulics technology will change the way products or services are constructed.  The demand for talent will also increase in the field of construction, operation and management of advanced technology robots.

7.  Biometrics technology

Recently, a survey of security researchers revealed some information.  According to that data, 72 percent of organizations will move away from traditional password systems by 2025.  A new method will be used instead of passwords.  Users will be identified by face shape, voice, eyes, hands or signature.

8.  3D printing

With the help of 3D printing, it will be possible to create products according to various needs.  And it can be done on a much larger scale.

Moreover, the cost of the supply chain will also be reduced through this technology.  This will create a new market of about 230 to 550 billion dollars.

9.  Genomics

In keeping with the increase in the speed of the computer processor, the technology of genetic engineering will also advance at the same pace.  Using DNA sequencing technology and advanced ‘analytics’ technology will increase production in agriculture.

This technology can also reduce our dependence on fossil fuels.  As a result, the average life expectancy of people will increase.

10.  Blockchain

According to a recent report, more than 200 organizations are using blockchain in about 64 different areas.  Its use in simplifying work processes, securing contracts, and commercial transactions will increase.

Quantum computing could make a difference

Beyond these 10 technologies, quantum computing can bring revolutionary changes.  There is still no clear understanding of how this technology will be used and advanced.  Yet the story of quantum computing’s potential is spreading rapidly.  Google’s ‘Quantum AI Laboratory’ predicts that quantum technology will be used on a small scale within the next few years.  With this, businesses will increase revenue, reduce costs and not have to invest heavily in improving infrastructure.

2025 workers should be given more importance on training

Many organizations will benefit from using these technologies.  But at the same time, these technologies will also create major challenges.  McKinsey added several suggestions in their report to address this challenge.

The suggestion is to further train the workforce to meet future needs.

In short, the way work will change in the future will require better education and training programs for workers.

According to the World Economic Forum, technology will affect all organizations.  As a result those institutions will go through various changes.  This will change the skills that workers currently need to get jobs.

If employees are not trained to properly manage and manage business operations in keeping with the changes, there will be a shortage of skilled workers in the future.

Every organization should have ample opportunities for talent development.  Proper planning is required to make the workers more efficient.  And new mindsets will be needed institutionally to meet the demand for skilled workers.

Top 30 Facts About “The Fourth Industrial Revolution: Technology, Training and Preparedness”

Industrial Revolution, Preparation, Training