The 5.0 era marks a new phase of the Industrial Revolution. In this era, technology is reshaping how we live and work, profoundly impacting the labor market 5.0. New jobs are emerging while old ones are disappearing.
In this article, we will explore the changes that the job market will face in the 5.0 era, as well as the skills and knowledge that workers will need to succeed in the future.
The 5.0 era is a concept proposed by the Japanese government in 2016, describing a future society where humans and machines collaborate to solve issues and enhance quality of life. It builds upon the foundation of the 4.0 Industrial Revolution but places greater emphasis on human-machine cooperation, aiming to create a more sustainable and happier society.
The 5.0 era holds immense potential, but it also presents challenges. To succeed, preparation and wise investments are necessary. We need to develop new technologies while changing our mindset and work approaches to adapt to this new era. By doing so, the 5.0 era can become a brighter time for everyone.
The 5.0 era will deeply impact our lives, including:
The labor market in the 5.0 era will undergo substantial changes. Not only will some professions be completely replaced by machines, but new ones will also emerge. As technology reshapes how we work, workers will need to acquire new skills to meet market demands.
The labor market 5.0 will prioritize placing humans at the center. Unlike the 4.0 era, 5.0 will shift focus from "what humans can do with technology" to "what technology can do for humans." Additionally, it will prioritize challenges that have a societal and human impact.
The five key focal points of labor market 5.0 include:
According to the World Economic Forum's report on the 5.0 labor market, around 23% of jobs will face disruption. Over the next five years, there will be at least 14 million fewer jobs. An estimated 83 million roles will vanish, while only 69 million new jobs will emerge.
The largest losses are anticipated in administrative roles, security, traditional factory and commerce positions. Some characteristics of roles expected to disappear in the 5.0 era include:
Several new professions will emerge in the 5.0 era with the following characteristics:
In the stages of the 3.0 and 4.0 industrial revolutions, robots and artificial intelligence emerged to replace certain human positions in factories to enhance productivity. This has revealed that not only in the present day but also in the distant past, humans and machines have been competing in various job roles.
However, in reality, while robots are more stable and perform tasks with higher accuracy than humans, they cannot surpass human flexibility, adaptability, and critical thinking. According to a recent report from Harvard Business Review, about 20% to 80% of jobs could potentially be automated, but there is no job that can be fully automated. This implies that even with potential future developments, robots will not entirely replace humans.
Therefore, in the 5.0 era, humans will be responsible for jobs that involve value addition, creative thinking, skills, and innovation. They will also manage robot systems in production lines. Robots will assist humans in the overall digital transformation.
The goal of Industry 4.0 is to connect machines, processes, and systems to maximize factory performance. In contrast, Industry 5.0 will focus on developing a production mindset where each factory not only maximizes productivity but also achieves high efficiency. To achieve this, there needs to be interaction between humans and machines.
In the near future, workers in factories will need to provide high value addition to products. This also requires them to possess specialized knowledge, skills, and creativity. Tasks that are mundane, repetitive, or hazardous will no longer be exclusive to humans. Robots and Cobots will perform these tasks better.
Clearly, humans and various types of machines will be connected to meet the increasing complexity in production and adaptability through continuously optimized manufacturing processes.
To succeed in the 5.0 era, workers need to equip themselves with new skills and knowledge. Skills and critical thinking are essential across various industries in the 5.0 era. They not only help you meet the changing demands of the job market but also are things that machines cannot replace.
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