With the advent of the internet and supplementary wireless mobile technology (2g and onwards) a consistent theme of many jobs being outclassed and replaced has sustained.
The latest research from the World Economic Forum forecasts that by 2025, machines will perform more current work tasks than humans, compared to 71 per cent being performed by humans today. (World Economic Forum, 2018)
Strangely enough, some of the most globally scarce factors of high-level technical expertise, capability to innovate, and entrepreneurial talent are devoted to economizing on – reducing the demand for – one of the most globally abundant factors: low to medium skill labour (Pritchett, 2020).
A key example is research into self-driving cars, trucks and other delivery vehicles. With the likes of prominent names such as Amazon, Google and Tesla making significant direct and indirect investments into autonomous vehicles (Endsley, M.R., 2017). The goal? Reduce costs by economizing on the use of human beings to carry out the tasks of driving cars and the other jobs associated with delivering packages.
However, the future is not as bleak as it may seem. A study by financial services company Deloitte has found that technology has created more jobs in the past century, not less. The authors, Ian Stewart, Debapratim De and Alex Cole, pored over census data for England and Wales stretching back to 1871. (Bolton, 2020)
For an avid job searcher in today’s times, it is better to have the necessary qualifications to signal that you are capable of being a fast learner when it comes to technology. Thankfully, online courses exist that provide certifications to do precisely that. Hence, instead of feeling outclassed by the changing job market- it is better to equip yourself with the skills to ‘future proof’ yourself. Furthermore, universities are now updating their list of courses to keep up with the ever so changing market. Hence, the 4th industrial revolution is in full swing- with the onus of proving their professional worth once again in the hands of the general populous.
Al Tareeqah Management Studies
At ATMS, we realise the effects of this and provide dedicated support to our students to ensure they are never subjected to any of the ill effects discussed in this article. This is why we also constantly update the curriculum and teaching methods to align with the best available in the industry. Hence, we believe we provide the best B.B.A., M.B.A. and D.B.A. in the U.A.E
Bolton, D., 2020. Technology Has Created More Jobs Than It Has Destroyed, Economic Study Finds.
Endsley, M.R., 2017. Autonomous driving systems: A preliminary naturalistic study of the Tesla Model S.
Journal of Cognitive Engineering and Decision Making, 11(3), pp.225-238.
Pritchett, L., 2020. The future of jobs is facing one, maybe two, of the biggest price distortions ever. Middle East Development Journal, 12(1), pp.131-156.
World Economic Forum, 2018, ‘The future of jobs report 2018’, World Economic Forum, Geneva, viewed 02 Dec 2020, <http://reports.weforum.org/future-of-jobs-2018>