A 2017 study conducted by Gartner, a research and advisory company, stated that by 2020 about 1,8 million jobs would be wiped out due to AI growth.
According to the prediction of Thomas Frey by 2022 over one billion jobs will be lost to robots. In the next decade this number will hit 2 billion.
However, in Frey’s opinion prediction isn’t that dreary as it seems. He points out that such trend will give a host of new jobs, such as product designers, engineers, experts in cutting-edge industries as robotics and 3D printing.
In other words, it is not elimination of jobs, rather that the jobs will be different in the future.
The future of work is overt.
Everyone sees the growing demand for technological skills so it is little surprise that pursuing higher education in IT sphere or working at fancy tech companies is in vogue today. But traditional education is outliving day by day. Such majors as STEM, Goggle analytics, neuromarketing aren’t taught at Universities.
As the founder of Upwork freelance platform Stephane Kasreil stated at comments for Axios:
Which is why some economists say that the half life of a skill is now five years and trending down (meaning, for such skills, knowing them in five years will only be half as valuable as knowing them today)
Experts assume that such situation may cause “skill gap”.
Currently short educational courses are prevailing among workers, consequently creating unprecedented group of employees. The CEO of IBM Ginny Rometty has called them “new collars”. Those who maintain advanced technical skills which are beneficial for high-growth jobs, especially for digital economics comprise this group. Bulk of them hasn’t received formal education as “ these technologies are moving faster in time than their skills are going to change”.
Expressly for those people IBM has organized innovative educational model known as P-Tech: vocational schools and apprenticeship programs.
The education lasts 6 years. During this time lapse, students are not only mastering in-demand knowledge but simultaneously have chance of paid internship in partner companies. After graduation, they may go to the further education to acquire doctoral degree or get hired in various organizations.
At this moment, there are about 100 P-Tech schools established in 13 countries. More than 500 business partners are helping teachers to develop work-relevant curricula and mentor students.
Photo: Barack Obama and Education Secretary Arne Duncan talk with students while visiting a classroom at the Pathways in Technology Early College High School (P-TECH) in Brooklyn, NY, Oct. 25, 2013. (Official White House Photo by Pete Souza)
Over the last few years, seven states of USA decided to expand the model. The California legislature set aside 10 million $ for new P-Tech schools. North Caroline and Minnesota are currently dissecting this decision. Congress’ reauthorization of the Perkins Act in July seems destined to give another boost to the P-Tech model’s momentum.
Ryan Crozier said that such career-focused models bring together businesses and schools to better prepare students by the help of interdisciplinary projects and courses:
Everywhere we go, business leaders are concerned about the skills gap and what business can really do to step up and contribute
Having participated in the World Economic Forum in Davos, Switzerland Rometty confirmed:
We as a company are passionate that if we don’t fix this issue, to bridge this skill right now, at the rate it’s moving, you will have unrest.And so people have to have a route in.
She believes that every organization must ponder over this issue and change the paradigm of hiring otherwise business will face “skill crisis”. Finding experts at labor market will be difficult as most of workers will not be able satisfy the requirements.
In the Financial Times’ panel “Business Leadership in the Fourth Industrial Revolution,” moderated by the FT’s Roula Khalaf Rometty emphasized the importance of not letting the workers behind:
There is a large part of society that does not feel that this is going to be good for their future.We have a really serious duty about this.