Jobs of the future: Digitization and globalization remain defining factors of the labor market. Demographic change is also having a drastic impact.
Will unemployment rise and income inequality and poverty increase in the future - or will the jobs of the future be created at the same time? In early 2016, the White House made headlines with predictions about the future of the world of work: President Obama announces that the world of work will change dramatically in the coming decades.
It is expected that over 80% of jobs paying up to $20 per hour will be replaced by robots in the medium and long term. Increasing automation poses an enormous challenge for the U.S. government and politicians in other countries and already requires a rethink.
The labor market - constantly in flux
Industrialization, emancipation and technological progress: social developments are shaping the labor market and continuously challenging employees. However, the current labor market revolution differs decisively from earlier upheavals: with increasing automation, physical jobs have generally been replaced by mental ones. This could now change, because robots are now more and more able to also mimic the functioning of the human brain and thus also perform mental tasks.
For example, financial startups are already using chatbots as bank advisors, or doctors are seeking diagnostic advice from Watson, the robot developed by IBM. When it comes to jobs of the future, experts agree above all that flexibility and a willingness to learn are key not only in trading at exness withdrawal time. While jobs with lower pay are acutely threatened for unskilled workers, academics have much better prospects. Expertise, knowledge and adaptability may not be a job guarantee, but the chances of being able to adjust to new conditions are better.
Rising numbers of graduates are not unsettling either: over 70% of academics are rather or very confident about their career prospects. Against this backdrop, politicians in developed countries stress the need to increase investment in education.
Digitization and globalization
Leading to the latest major upheaval in the job market are two developments that are reinforcing and accelerating each other: Digitalization and globalization. Increasing international networking, ubiquitous use of the Internet and other technological achievements such as the smartphone have revolutionized consumption and, at the same time, the world of work.
Digital media and e-commerce are putting print media and retail under pressure and threatening jobs. At the same time, start-ups are being founded and IT companies such as Facebook and Google are developing into powerful global corporations, creating new employment opportunities. Experts unanimously report that the changes cannot be stopped: For example, self-driving cars could soon be used in logistics and make many workers redundant. Last but not least, digitization brings advantages for the occupational group that made it possible: Computer scientists, software developers and IT specialists are in demand in every industry - and are likely to remain so.