Welcome to the 4th Industrial Revolution. Like the First Industrial Revolution’s steam-powered factories, the Second Industrial Revolution’s application of science to mass production and manufacturing, the Third Industrial Revolution’s start into digitization, and the Fourth Industrial Revolution’s technologies, such as artificial intelligence, genome editing, augmented reality, robotics, and 3-D printing, are rapidly changing the way humans create, exchange, and distribute value Simply put, the Fourth Industrial Revolution refers to how technologies like artificial intelligence, autonomous vehicles and the internet of things are merging with humans' physical lives. It is the blurring of boundaries between the physical, digital, and biological worlds. The future is defined as the time after the present. Its arrival is considered inevitable due to the existence of time and the laws of physics. The Future is always approaching. The real question is – are we ready for the change and are we ready to adapt quickly? The future is always coming and most of the time it happens without us even noticing it. Let’s take a brief moment to pause and re-cap what just happened in a very short amount of time. In 1998, Kodak had 170,000 employees and sold 85% of all photo paper worldwide. Within just a few years, their business model disappeared and they went bankrupt. What happened to Kodak will happen in a lot of industries in the next 10 years and, most employers won't see it coming. Did you think in 1998 that 3 years later you would never take pictures on film again? Yet digital cameras were invented in 1975. The first ones only had 10,000 pixels, but followed Moore's law. So as with all exponential technologies, it was a disappointment for a time, before it became way superior and became mainstream in only a few short years. It will now happen again with artificial intelligence, health, autonomous and electric cars, education, 3Dprinting, agriculture and jobs. Let’s pause and reflect on a quick snapshot of what is quickly evolving with the 4th Industrial Revolution:
The reason for this pause and reflection is not only to step back and put things into perspective but as employers - are we ready for this level of change is such a short period of time? How will you begin to retrain existing employees or recruit new one in this new revolution – something we all must think about within our recruitment efforts. There has never been a better time to re-invent talent acquisition. |
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