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This article has been written by Swati Mujumdar pursuing a Remote freelancing and profile building program from Skill Arbitrage.

This article has been edited and published by Shashwat Kaushik.

Introduction

Automation and technology are continuously evolving. Increased connectivity has led to rapid digitalisation of the economy. There is exponential growth in the technology domain. The nature of work is undergoing a dramatic transformation. The economics of the labour market are evolving due to the wide usage of digitalisation in almost all sectors. The way we work, the skills we need, and the very nature of jobs are undergoing a huge transformation. Let us imagine a world where artificial intelligence handles complex tasks, robots perform routine jobs, and humans focus on creativity, innovation, and problem-solving. This isn’t science fiction; it’s the rapidly approaching future of work. This article delves into the uncertain future, exploring how the nature of work will change, its impact on human life, and how we can prepare ourselves for these exciting but uncertain changes.

How work will change: automation and digitalisation

The future of work indicates how the nature of work, workplace, and requirements of employees will evolve in the near future. There will be a significant change in the availability and nature of jobs. Technology plays a central role in the journey towards the future of work, but some other elements, like how work will be carried out, workplace and the requirements of skilled workers, would also play a major role. It is difficult to predict the exact nature of work as the world of work is changing constantly. In some cases, it could be remote work and virtual meetings. It can be hybrid, i.e., partially remote. Jobs that require on-site work, such as operating machinery, nursing, conducting CT scans, etc., cannot be done remotely.

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Rise of automation

Automation and digital technology in every sphere of business and the workplace are reshaping the nature of work. It will also change the structure of the job market. Manual and repetitive tasks will be automated with the help of artificial intelligence (AI), machine learning (ML) and robotics. Jobs like data entry and administrative work for various manufacturing processes, such as assembly lines, will get automated because of robots and AI. Chatbots handle customer service inquiries. Some aspects may also get automated in the field of surgery. Foxconn, a major electronics company, has replaced assembly workers with robots. This way, the jobs that are currently performed by humans will be replaced by robots, machine learning and AI.

Demand for cognitive skills

Automation will replace repetitive tasks. This will displace many workers who were performing these tasks earlier. Repetitive tasks will disappear, but new jobs will emerge in areas like data analytics, AI and ML development, robot maintenance and so on. This change can enable the human workforce to deal with creative and cognitive work. A larger human workforce will be required to do skilled and intellectual jobs like problem-solving, coding, analysing data, cybersecurity checks, etc. Soft skills like creativity, critical thinking, emotional intelligence, problem-solving ability, etc. are emerging areas. Staying focused on the above skills will be a key to success.

Importance of lifelong learning

It has become necessary for the future workforce to adapt to a lifelong learning approach. An ever-evolving skill set will be required for its existence in the job market. Constantly upgrading skills and being up-to-date with the latest technology will become necessary in the ever-changing job market. Online learning programmes, boot camps, a variety of certifications related to respective fields, and specialised programmes will become crucial for remaining updated with the current business requirements.

Gig economy

Digitalisation offers a variety of opportunities for freelancers. Freelancing and project-based work will become more prevalent. This work model will offer more flexibility for businesses as well as individuals. These opportunities may be in the form of a new market, a new job, higher pay, or a better work-life balance. Businesses can hire experienced freelancers from a global pool. Many online platforms will play major roles in connecting businesses with the best talent. This flexibility offers more choice and freedom when selecting the right workforce. However, workers may face challenges like working in different time zones, job insecurity, lack of benefits, unfair treatment, deterioration of mental health, etc. Especially women, the workforce may get negatively affected.

Impact on humanity and the world

The changing nature of work will have a profound impact on human life and the world. Both positive and negative.

Automation and digitalisation create new opportunities across various sectors. It is reshaping the world of work and business. It can streamline processes, boost productivity, and increase efficiency. AI-powered systems can complete complex tasks accurately and quickly.

The pace of technology adaptation is accelerating in areas like big data, e-commerce, cloud computing and artificial intelligence. There will be a division of labour between humans, machines, and algorithms. Millions of jobs may be displaced because of this division of labour. The skill gap poses a high risk of job displacement for people doing routine jobs. Employment relationships have become blurred. Reskilling is required in many areas to adapt to ever-changing technology. Due to the huge skill gap, there will be a rise in unemployment and financial inequality. The top skills currently required by businesses include skills such as critical thinking and analysis as well as problem-solving and skills in self-management such as active learning, resilience, stress tolerance and flexibility.

Bridging the skill gap by educating the workforce and making them ready as per industry standards is a primary requirement.  The right skills and education will help them get the upper hand in the job market. Growing digital transformation will help people have multiple career options across industries.

There is a challenge in developing strategies to retain displaced workers and re-equip them with the necessary skills to sustain the evolving economy. Labour markets require more advanced skills, but there is a shortage of highly skilled workers. Reskilling and upskilling the workforce is a real challenge for businesses. The educational system will have to adapt quickly to this new change. Governments, businesses, and workers should come together to upskill the existing workforce. More focus is needed on science and technology, the development, and usage of new AI and ML tools, apart from fostering critical thinking, creativity, and adaptability. Virtual learning will be a new trend for acquiring special skills. It will help bridge the skill gap and boost economic growth.

There will be a shift in the present work culture. Remote jobs, or work from anywhere jobs, may offer a better work life balance. The female workforce will benefit from flexible hours. This may lead to their increased participation in economic growth and development. Businesses may engage a trained global workforce to complete crucial and timebound projects. This will foster global collaboration and cultural exchange. However, the constant connectivity and blurring gap between work and personal life could also lead to social isolation, stress, and burnout.

The tech industry is evolving at a fast pace. It is necessary to learn a new skill set and stay on top of the industry. Networking with people who have similar interests will prove highly beneficial. New connections can help open doors for new jobs, including learning the latest skill sets in areas of interest, exploring relevant work opportunities and many more. Building strong relationships can help grow industry awareness and, in turn, businesses.

Technology is a double-edged sword. The rise of automation raises ethical concerns such as biassed AI algorithms, the potential for job displacement, and who has the controls for these technologies. 

Digital employment can increase economic inclusion, but there could be discrimination based on location, ethnicity, religion, and gender. As far as advanced technology is concerned, employment opportunities between men and women differ considerably. Women face more challenges in acquiring skills and transitioning jobs. Generally, women are less represented in the technology sector, where higher technical skills are required. It is necessary to bring women into mainstream technical fields. Training programmes should be launched to upskill women and marginalised social groups.

Conclusion

The future of work is a complex and dynamic landscape shaped by rapid technological advancements. While automation poses challenges like job displacement, it also presents exciting opportunities for increased productivity, innovation, and improved working conditions. The key lies in adapting to this shifting environment. Governments, educational institutions, and individuals all have a role to play in preparing for this future. Governments can invest in skill development programmes and promote lifelong learning initiatives. Educational institutions need to adapt their curricula to focus on the skills needed for the future workforce. Policymakers should keep an all-inclusive approach while designing policies that will take care of backend workers, gig workers, and the female workforce. Policies should cover all individuals who can proactively develop their skill sets and embrace continuous learning to stay relevant. Ultimately, the future of work is not something to be feared, but rather looked at as an opportunity to be embraced and shaped by our collective efforts. By working together, we can ensure that the future of work is one that benefits all of humanity.

References

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