“We
cannot solve a problem by using the same kind of thinking we used when we
created them!”, said Albert Einstein.
An
interesting quote from the genius but is all the more relevant today where
organizations face challenges owing to ‘disruptive innovations’ and
technological advancements. But, a change in mindset by understanding the
new wave will probably create new opportunities and open up new markets in
order to extend their business operations across geographical boundaries
through collaborations. Every organization wants to achieve efficiency, better
productivity, reduction in cost, profitability and increased market share.
Achieving all these is not possible in a digitally-driven global economy today
as the skillsets and competencies required of every human element contributing
to the organizational success starting from top bosses to lower level employees
warrant upscaling and significant improvements. Modern day technology,
inventions and innovations have brought about a lot of transformations thanks
to the 4IR where the world today is witnessing fundamental changes in the way
products are manufactured, transported, delivered and consumed. One should swim
along with the tide before it becomes too late.
4IR, the Key Driver of Change Throws New Challenges but Offers
Innumerable Opportunities on Your Way!
The
term, ‘Fourth Industrial Revolution’ coined by Prof. Klaus Schwab, a former
Professor at Harvard University, Founder & Executive Chairman, World
Economic Forum (WEF) asserts that 4IR will affect the very essence of our human
experience. More specifically, Prof. Klaus argues that this revolution has the
capability to change the way human beings work, consume and the way they think.
This new revolution is blurring the lines between the physical, digital and
biological spheres, he argues. Evidently, the extensive use of Artificial
Intelligence (AI), Autonomous Vehicles, Augmented Reality, Internet of Things
(IoT), Cyber-physical Systems, Cloud Manufacturing, Additive Manufacturing,
Simulations, Big Data, System Integration and a host of other advancements have
thrown up new challenges to the workforce but at the same time opens up new
opportunities, as well. He further cautions that this high-tech
revolution will alter the labour mark with machines replacing human labour
currently present at work as Artificial Intelligence (AI) based business models
which works under high-speed networks and interfaces have accelerated the production
process still with accuracy and efficiency. The result is that machines will
gradually replace human-beings from work places necessitating re-orientation of
skills to be gainfully employed in this age of digital transformation.
Adidas, Amazon, Tesla and Foxconn Experiments have resulted in
‘Smart Factories’
In
2015, Adidas had opened up a heavily automated manufacturing facility called,
Speedfactory, in Ansbach, Germany where a pair of shoes was produced applying
3-D printing, robotic arms and computerized knitting in matter of hours. In the
normal course, these products are manufactured in China, India, Vietnam and
other far-off locations by workers at a relatively lower cost. Although the
factory in Germany is closed now, Adidas has ambitious plans to open up such
factories in USA and other locations in the near future. In the same way,
earlier in May 2019, Amazon has introduced ‘packing robots’ replacing employees
as a part of their automation process. The Wrap Machine, according to Amazon,
has the capability to pack four to six times higher than human labourers. This
new technology, it has been stated, while increasing safety and efficiency,
reduces delivery time and cost in the long run. A little over 30000 robots have
been employed by the company for replacing repetitive jobs which will be
automated in a timely manner. Cambridge Industries Group (CIG), a leading
company in China with 3000 employees is planning to replace two-thirds of its
workforce. This move, according to the company, results in energy efficiency,
as robots can work with needle-precise accuracy in utter darkness. Again, such
initiatives reduce the presence of human elements in an organizational setting.
Tesla’s Giga Factory in Nevada will have 100% automation with a very minimal involvement
of human beings at work. With a little over 1000 Soft Bank Pepper robots
introduced by Nestle are not only selling coffee pods but answer customer
queries, as well. Further, over 60000 employees have been replaced by Foxconn,
the leading Chinese company in its mission to automate repetitive jobs. A
report published from Africa states that a little closer to 6 million jobs are
at risk owing to automation and the 4IR and advises youth to improve their
knowledge according to the emerging trends with appropriate technical skills
and competencies. Waiters in hotels get replaced by robots even in smaller
cities, according to news reports. The concept today is ‘Smart Factories’ but
not ‘Brick & Mortar’ manufacturing lines under the supervision of human beings.
The underlying message is that one should catch up with the changing paradigms
and prepare the system, processes and employees to take the transformations,
head on.
Thinking ‘Outside the Box’ Pays Rich Dividends!
Understandably,
to succeed in digitally-driven economies where involvement of human beings at
work is slowly fading away, the skillsets required are different and every
organization should re-orient themselves and think ‘outside the box’ to enhance
profitability and improve the ‘market share’. Leadership plays a crucial role
at this critical juncture as the risk and opportunities widely differ from each
business and sectors. For instance, five million jobs will be created by the
4IR according to the finding of a new report, ‘The Future of Jobs’, published
by the World Economic Forum.
Right Eco-system, Skill-orientation and Continuous Education
brings about Efficiency!
Establishments
where repetitive jobs are performed need to rethink the way their business
operations and processes are being carried out as robots invade such places
with no rest, no over-time allowance but with greater accuracy in completing
jobs. Warehouse people, production line people, vehicle drivers, call centre
employees, clerical and accounting jobs, white-collar jobs, office and
administrative jobs will be severely affected, argue experts. According to
World Economic Forum (WEF), 7.1 million jobs will be affected in the immediate
future. However, 2.1 million new jobs with high-profile technical skills and
capabilities will be created in the future, it is stated. This necessitates
creating the right eco-system, skill-orientation to the current employees and
future jobseekers as their current skillsets and knowledge are becoming
obsolete and redundant. The report further argues that healthcare, energy,
financial services and investment advisory segments will be affected while
media, entertainment, professional services and communication technologies will
create new employment opportunities in the near future.
Universities and Colleges should Prepare their Graduates
‘Industry-Ready’
In a
nutshell, one should hone the skillsets to thrive and succeed in this new wave
visibly grasping the changing landscape with the advent of technology and
automation. The power of internet and digital transformations have to be
harnessed in a significant manner. Universities, colleges and higher
educational institutions have added responsibilities to ensure that what they
teach in their campuses are clearly aligned with the requirements of the
business world in order to prepare their graduates, ‘industry ready’. As
mentioned earlier, change in our mindset and honing the skillsets according to
the changing landscape is the need of the hour.
Elvis M Okoye ; Head of Content & Digital Strategy : The Panagora Blog
parkedsense.blogpspot.com
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