World of Work

Industry 4.0 and The New World of Work

The operational transformation will require technology to support new ways of thinking about jobs, the way people who do them, and the information they need to do it.

The digitisation of processes and systems is enabling the better collection and analysis of data, and potentially companies will be able to make better decisions faster. But more companies are beginning to realize that the speed at which business and technology change is not just new ways of thinking about technology, but about the change of the nature of the work itself.

Adopting Industry 4.0

Companies will face huge challenges in the adoption of these new technologies. To build and sustain these new technologies to full implementation, they will need to broaden and deepen their knowledge on digital technologies and the related fields —and then develop and implement tailored digital manufacturing strategies.

What does Industry 4.0 mean for the work force?

As mentioned in previous chapters, Industry 4.0 will have a massive impact on the economy and by consequence to the labour market. According to Dirk Hahn (CEO and Strategic Director of Hays in Germany) “it is estimated that as machines increasingly run themselves, we will inevitably see middle-skilled roles disappearing”. He also continues by saying “improvements in technology will likely lead to a ‘hollowing out’ of jobs distribution, whereby some middle-skilled jobs will disappear.” On the other hand, he explains later on, how more jobs will be created in both lower and higher-skilled occupations, ultimately meaning that automation will generate more jobs than it will destroy.

Here you can find an interesting article from the Guardian, by Richard Partington explaining how “Robots in workplace ‘could create double the jobs they destroy”.

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