It is estimated that 65% of the children who enter primary school this year will end up working in jobs that do not yet exist. The effects of the fourth industrial revolution are already beginning to be felt.
Between 2015 and 2020, the world will lose between 5 and 7 million jobs due to the rise of digital technology, according to The Future of Jobs , prepared by the World Economic Forum (WEF, for its acronym in English).
Such transformation, affirms the WEF, will come from technological advances such as artificial intelligence, machine learning, 3D printing, nanotechnology and biotechnology, which combined with intelligent systems – from houses to entire connected cities – pose a radical change that the body calls the fourth industrial revolution.
But it is not all bad news. The WEF expects another 2 million jobs will be created in fields related to computing, mathematics, architecture and engineering.
The agency affirms that in many industries and countries “most of the occupations with the highest demand did not exist 10 or even 5 years ago”; in fact, “it is estimated that 65% of the children who enter primary school this year will end up working in jobs that do not yet exist.”
To conduct the study, which seeks to understand the future impact of key disruptions on employment levels, the skills required to perform a job, and recruitment patterns in different industries and countries, the WEF asked specialists and managers from more than 130 global companies how they imagine the industry will change by 2020 to conduct the study.
Thus, the report calculates which will be the areas with the most jobs and which will see a reduction in the number of available places:
Jobs with a positive outlook between 2015 and 2020:
- Business and financial operations: +492,000
- Managerial positions: +416,000
- Computing and math: +405,000
- Architecture and engineering: +399,000
- Sales: +303,000
- Education and training: +66,000
Jobs with a negative outlook between 2015 and 2020:
- Office and administrative: -4.7 million
- Manufacturing and production: -1.6 million
- Construction and extraction, -497,000
- Arts, design, entertainment for sports and media: -151,000
- Legal: -109,000
- Installation and maintenance: -40,000
The recruiting revolution
The impact of technological, demographic, and social disruptions will transform the employment landscape, but also skill requirements, imposing challenges in recruiting, training, and managing talent.
“On average, by 2020 more than a third of the basic skills of most occupations will be made up of skills that are not considered crucial today (…) In essence, technical skills will have to be complemented by others of a marked social and collaborative, ”says the report.
Countries and companies must act immediately to contribute to the talent revolution, says the WEF, not only to prevent high unemployment rates and a reduction in their consumer base, respectively, but to fully exploit the potential of the fourth industrial Revolution.
The agency suggests taking the following actions immediately:
- Reinventing the HR function: The department becomes increasingly strategic, so it must use analytics tools to identify talent trends and talent gaps.
- Using analytics: Data forecasting and metric planning are central to organizations, and data analytics is the tool to achieve this.
- Talent diversity: As job profiles become more specific, narrowing the gender gap and racial integration become more relevant.
- Boosting job flexibility and online talent platforms: Physical and organizational boundaries are beginning to blur, so companies already manage their talent differently, and even collaborate remotely with freelancers.
And others for the long term:
- Rethinking the educational system: It is the 21st century; the distinction between science and humanities limits the potential of talent. Businesses must work closely with governments and schools to reimagine what modern education should look like.
- Encourage lifelong learning: Adapting the education system will not be enough. Talent must continue to learn throughout its life.
- Collaboration between industries and between the public and private sectors: Collaboration, not competition, will be the mark of the century. Multisectoral partnerships and collaborations that allow each party to take advantage of the experience of the others will be essential.