Hold on tight

We are now in the midst of what experts call the Fourth Industrial Revolution. A technological revolution that will completely alter the way we work and the way we live forever.

In fact, Klaus Schwab, founder of the World Economic Forum, says that the scale, scope, and complexity of how Artificial Intelligence (AI), robotics, and machines will change our lives will be unlike anything we’ve ever experienced before. While no one knows for sure exactly how robots and machines will change us; look around you and one thing is for sure; things are changing fast.

The Internet of things and process automation is here. Today we can control all kinds of things in our house without actually being there. Like controlling the thermostat, closing the garage door, even turning on our security system, directly from our smartphones.

From smart driverless cars that talk to each other to algorithm software that can calculate employee moods, the machines have come of age. There are 3-D printing machines that create body parts, flying cars on the horizon, and much more. No, this is not science fiction, this is real and it is happening now.

Dramatic changes in the future

But this is elementary compared to the many changes that are yet to occur. And the technology of the future will kill millions of jobs. Jobs you see workers currently doing today. This will put millions of unsuspecting workers on the unemployment line. Life within every organization, as we know it, is about to change rapidly. This Fourth Industrial Revolution will see many casualties as robots and AI enter the workplace at a terrifying rate.

In fact, according to the World Economic Forum, up to 5 million jobs will literally disappear in 2020, and 36 million more will be lost by 2030. That’s 41 million American workers who will be displaced over the next 10 years. Are many workers just not paying attention?

Once these jobs are gone, they won’t come back. Yes, new and better paying jobs will be created, but workers will have to retrain and upgrade their skills before it is too late.

The new open economy of talent

Another thing that will alter the way we work is the changing workplace platform. A survey of leading companies around the world shows that they have already stopped hiring the majority of their workers permanently. In fact, most of these companies already have a 50-50 ratio of permanent workers for what is now called “contract workers.”

Welcome to the new “open talent” economy, where employers hire the best talent (contract workers) as needed. This is a huge sea change that is being felt globally.

Now is the time for organizations to prepare their workforce for these new changes. And now is the time for each worker to reinvent themselves for the new world of work.