The Fourth Industrial Revolution Explained

The Fourth Industrial Revolution, also known as Industry 4.0, involves the adoption of cyber-physical systems like the Internet of Things and Internet of Systems.

  • Internet of Things. Also known as IoT, the Internet of Things is a network of interconnected smart devices that allow each separate device to interact (i.e. send or receive data) from other devices on the network.
  • Internet of Systems. Business-owned systems that can collect data from IoT networks to make independent decisions about your business’ marketing campaigns, sales, etc.

Simply put, the Fourth Industrial Revolution refers to how technologies like artificial intelligence, autonomous vehicles and the internet of things are merging with humans’ physical lives. Think of voice-activated assistants, facial ID recognition or digital health-care sensors.

For a better understanding – watch the video below:

While many of today’s occupations will still exist in the future, they will indefinitely transform, and in many cases, occupational categories will overlap with one another to form new roles. This is already happening and the rate at which it is occurring is expected to accelerate over time. So, it’s not to say that AI and automation will necessarily replace most jobs, but rather, will require people to adapt and learn how to use this technology to enhance existing processes. These roles will be focused on skills such as monitoring and operating automated and online processes in conjunction with their existing roles and responsibilities.

What is certain is that the new generation will become increasingly diverse and analytical in their way of thinking. They will continuously adopt new skills and be more adaptable to frequent changes in the workplace and in their roles, as new job roles start to come into play and certain skills become obsolete.

According to a World Economic Forum report, The Future of Jobs, here are the 10 skills you will need for the Fourth Industrial Revolution.

  1. Complex Problem Solving
  2. Critical Thinking
  3. Creativity
  4. People Management
  5. Coordinating with Others
  6. Emotional Intelligence
  7. Judgement and Decision Making
  8. Service Orientation
  9. Negotiation
  10. Cognitive Flexibility

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