Challenges for the Workforce in the Fourth Industrial Revolution

Abstract

There was a dilemma that accompanied the three previous industrial revolutions, and it came back strongly to the beginning of the fourth: in the new economy, will people be replaced by the machinery or not? It is an issue that we intend to approach in terms of qualitative analysis of previous episodes and assumptions outlined for the fourth industrial revolution. The economic evolutions of the last two centuries have called for a steady increase in the workforce, both numerically and qualitatively. Soon, automatic and robotic learning will change almost all sectors of employment. Starting from these premises, the article aims to respond to the following questions: Will billions of people be laid off in a decade or two?, Is automation, on the long term, going to generate new jobs and prosperity for all? Considering that the volatility of the labor market and individual careers would increase, are people able to cope with them? Fears regarding automation, as this would lead to massive unemployment are present since the XIXth century, and so far have not materialized because for every job lost in favor to machinery it was created at least one new job and in the same time the standard of living has increased. The challenge launched by the 21st century is undoubtedly much greater than the challenge launched in the past by steam engines, railways or electricity. No one can know for sure how the impact of automation on different professions will be in the future, and it is also extremely difficult to estimate the order of transformations because it sometimes depends not only on the political factor but also on the technological developments. Therefore, creating new jobs and the professional reconversion of people to their employment will not be a singular effort.