There are many roads to career-success, but a critical one is the enhancement and development of skills and capabilities – through education, learning, and meaningful work.
The global shift into the future of work is marked by an ever expanding cohort of new technologies, new markets by global markets, which are more interconnected today than ever before. While this technological advancement has definitely led to more and more interconnection and growth, it has also led to jobs becoming redundant, mass job displacement, skills shortages, to name a few.
As per the third edition of the Future of Jobs Report 2020, taking a global overview of the ongoing technological augmentation of work, emerging and disrupted jobs and skills, projected expansion of mass reskilling and upskilling across industries as well as new strategies for effective workforce transitions need to be at scale.
The report also states that over the past decade, a set of ground-breaking, emerging technologies have signalled the start of the Fourth Industrial Revolution. It is believed that by 2025, the capabilities of machines and algorithms will be more broadly employed than in previous years, and the work hours performed by machines will match the time spent working by human beings. The augmentation of work will disrupt the employment prospects of workers across a broad range of industries and geographies. New data from the Future of Jobs Survey suggests that on average 15% of a company’s workforce is at risk of disruption in the horizon up to 2025, and on average 6% of workers are expected to be fully displaced.