You may have heard we stand in the midst of the fourth Industrial Revolution, where our physical and digital worlds collide and integrate together like never before. In fact, according to a report by the World Economic Forum (WEF), an international organization of economic & governmental leaders, almost two-thirds of the students entering primary school in 2016 will engage in a job that does not exist yet. Almost 45% of the jobs that people do today can (and likely will) be automated. Amidst groundbreaking advances like cloud computing, artificial intelligence, and robotics, the job market is undergoing rapid changes. In our previous blog, The Future of Jobs As Per WEF, we discussed trends like these that will impact the workforce.
Top 5 Skills of the Future as per WEF:
The future of work will look drastically different from what we’re seeing today— and so will the skills needed to succeed in the working world. Let’s take a look at the skills of the future that the WEF deems essential to stay relevant in the job market. These skills are not just limited to technical (or hard) skills. Soft skills are equally, if not more, essential as work becomes more collaborative. To learn more about the top soft skills, read our article here.
Creativity: Creativity will be a defining asset in years to come, as automation and robots become the new normal. Companies value out of the box ideas and creative ability in their employees. When deciding what new ideas to bring to the table, creativity is a must. Human creativity holds the potential to unlock many great things.
AI and Machine Learning: Unsurprisingly, AI and Machine Learning are some of the drivers of the Fourth Industrial Revolution. We are already witnessing the effects of AI and ML on our everyday lives. The automation of repetitive tasks, event prediction using historical data, and user-personalized experiences on sites like Netflix and Amazon are just tiny glimpses of where this technology can take us. Organizations from various domains like education, health, and e-commerce need AI and ML experts to improve their processes.
Data Analysis: We are living in the age of data and are surrounded by it. Data analysis is all about collecting meaningful data, drawing useful inferences from it, and using the results to drive decisions. Just like AI and ML, data analysis fits in almost every sector. Critical thinking goes well with data analysis skills as it helps in forming effective policies and decisions for the company. Check out our quiz on critical thinking ability here.
Sales and Marketing: This skill seems quite different from the more technical skills we’ve listed above, but actually sales and marketing is becoming more data and metrics- driven than ever before. The WEF says both skills will show record growth in the number of opportunities in years to come. This is primarily because sales and marketing cannot be completely automated. The way these jobs are carried out might change—fields like digital marketing are showing huge potential. To discover more about marketing, read our blog here.
Emotional Intelligence: Another soft skill which will be high in demand is emotional intelligence. Emotional intelligence is newly featured in top 6 skills list for 2020. In fact, according to a study by Career Builder Survey, 59% of employers would not hire someone who has a high IQ but low EQ (emotional intelligence quotient), and 75% said they are more likely to promote the high EI worker. Emotional intelligence is a collective term and comprises of many different traits, like self-management, self-awareness, social awareness, and relationship management. As workplaces are becoming more collaborative, employees with high EI will succeed since they are empathetic to their fellow workers.
As we now know, the major skills needed inthe fourth industrial revolution are mainly related to technology and better soft skills. As new jobs flourish and irrelevant ones vanish, there is a clear need to reskill with time.