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The impact of the fourth industrial revolution on education and the labor market
27-34Views:269A significant part of literatures on the present and future of industry and labor market states that in our days the fourth industrial revolution is taking place. In our study, we undertake to explore the impact of digital transformation on education and the labor market, and to examine the changes that have taken place in recent decades in the highest school qualifications of Hungarian people. Our goal is to highlight the connection between the acquired skills and industry 4.0. We have come to the conclusion that, as a result of digital development at extreme speed, the social and economic environment has undergone significant changes. The education of the Hungarian population has been steadily increasing in recent decades, with a drastic reduction in the proportion of uneducated people, while at the same time increasing the proportion of graduates of secondary and tertiary education. This is a very positive trend, because in an accelerated world, future workers need to learn new skills in order to succeed in the labor market. As a result of rapid technological progress, a number of problems that have not been solved in the education system will have to be solved. And in order to benefit the greatest advantage from the fourth industrial revolution that is taking place, industry, education and the labor market need a more coordinated functioning than ever before.
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Future-proof skills - What do you expect to need in the jobs of the future?
36-45Views:192Advances in Artificial Intelligence and robotics have made it possible to automate many high-level cognitive skills, but different jobs and occupations may be affected differently by technological developments. High-skilled occupations are less at risk of automation, as they also require skills and competences that remain important bottlenecks to automation. However, according to OECD 2022 results, the jobs most at risk from automation will not disappear completely, as only 18-27% of the skills and competences required in these occupations are highly automatable. Rather, it is likely that the organisation of work will need to be radically changed and that workers in these jobs will need to retrain as technology replaces workers in many tasks.
In my study, I aim to summarise, based on the literature of recent years, the key skills that will potentially equip workers for the diverse workplace demands of the near future, arising from technological developments.
I conducted a keyword search of the Scopus database for future jobs, workplaces, occupations, skills, abilities and competences. I narrowed down the search results to the period 2021-2023, English language journal articles, economic and business fields and relevant keywords associated with the articles by the authors. In addition to these articles, I also reviewed the reporting materials of other relevant professional organisations (OECD, World Economic Forum) for the period. The geographical, regional and territorial differentiation of the studies was taken into account.
In my findings, I have also discussed the role of universities and other educational institutions in meeting the employability expectations of the Fourth Industrial Revolution in order to ensure that they can provide skills that are as relevant as possible to market expectations. I will highlight the top 69 skills identified in the hospitality industry and their groupings, and the elements of the 4 important skill groups identified for accountancy professionals. I also cover the future-proof skills that entrepreneurs are expected to have. In general, I will describe the appreciation of soft skills based on the academic findings of recent years.
The results collected can also serve as useful information for individual human capital investment decisions, organisational training and even the design of training frameworks for educational institutions.
