Pace of Technology Changes, Need for Adaptation, and Demand for Skills

Abstract

Living in the generation when it looks like the technology of the future is already here and the various shifts in technology are having profound effects on the way businesses are done and the entire labour market space, the industrial revolution has necessitated the need for changes in the nature of work and skills that meet the demands of the revolution. Currently a lot of mechanized skilled workers are being replaced with automated technologies enhanced by artificial intelligence. This has prompted the need for skillset repositioning to enable the workforce to adapt to the in-demand hot industry skills. This chapter looked at (1) the impact of advancement in technology on the current workplace, (2) the skill set (upskill and reskill) needs that enhance employee to meet the pace of the current technology advancement, and (3) repositioning of the workforce to be relevant in the face of automation and the accelerated trend of artificial intelligence.