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Future of work

In 2018, World Economic Forum published a report on “The Future of Jobs” that highlighted the need to recognize human capital investment as an asset in order to formulate a winning strategy by businesses for the Fourth Industrial Revolution or industry 4.0. There is no doubt that Artificial Intelligence, Robotics, Big Data, Block-chains and other technological advances stems from Industry 4.0 will create new work opportunities, which will drive the workforce for re-skilling or acquiring new skills.

Technical expertise will be a necessity and workforce needs to adapt to these changing environment soon. Social skills- Emotional intelligence, persuasion and teaching others, will be in high demand across industries. Creativity and critical thinking will be growing as core skill requirements for many industries.

Gig economy (freelance professionals or contract work) will be growing faster which will have an impact on businesses and education sector. Educational institutes will need to incorporate or devise new courses that will train young minds for the new gig economy and businesses will need to create new adaptive models.

Author Dr. Divya Singhal, Associate Professor & Chairperson- Centre for Social Sensitivity and Action at Goa Institute of Management, Sanquelim, Goa- 403505, India 


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