The current trend of automation has been branded as Industry 4.0′, a phase that many believe to be the next economic revolution. Michael E Porter of the Harvard Business Review said: What is underway is perhaps the most substantial change in the manufacturing firm since the second industrial revolution, more than a century ago.
The Internet of Things combines the power of machinery and computers, bridging the gap through connectivity. Turning human-operated machine in the manufacturing, production, construction and agriculture industries into an intelligent or smart’ entity. There’s no doubt that robotics and drones plus automated processes are going to change industry forever. But which jobs will be affected the most by the application of IoT machinery? Here are a few of the ways that
1. Jobs in Hybrid Verticals
One of the biggest fears is that IoT will lead to mass unemployment, but many experts believe the effect to be more of a shift in the job landscape. Roles in hybrid verticals (such as IT + energy, IT + healthcare, or IT + agriculture) will become key to driving businesses forward. This could mean that existing workers will need to be re-skilled at their jobs, or it could see the formation of teams that manage a full operation with their combined attributes.
2. Better Wages and Standard of Living
Data from this IoT infographic shows us the potential growth of the economy from automation and development in robotics. By 2030, GE predicts that the Industrial Internet of Things will add more to the world economy than every major country (except the USA and China). The high estimate of the total size of the Industrial Internet of Things in the year 2030 will be 15 trillion US dollars, with the low estimate at 10 trillion US dollars. If we consider the high estimate, that’s twice as much as India‘s contribution, Japan’s contribution or Germany’s contribution to global wealth. As a result, we can benefit from more employment, better income and a better standard of life.
3. Low Skill Jobs Will be Replaced First
It is inevitable that some jobs will be replaced by automation and robots, and the first jobs to go will be low-skill positions. In the same way that the phone industry was affected when switchboard roles were made redundant with the advancement of tech solutions. One report by consulting firm Zinnov even predicts 94,000 job losses by 2021 in India. Although the study also noted that there would be job creation in other areas.
4. Added Safety for Workers
One of the biggest benefits of smart technology combined with machinery is increased safety levels for human workers and engineers. Not only can smart wearables help to protect employees in high-risk industries, but automated systems will be able to monitor and record every fault or discrepancy. An added bonus of constant connectivity and monitoring is the ability to improve workers’ skills and provide triggers for training and education where required.