Gone are the days when people used to admire mechanical factory owners for having an asset – a physical means of deploying employment to masses. If those factory owners would lose a part of their ‘physical investment’, they would lose in terms of wealth. This is 2018 now – an era of data and computer science. Everything has gone virtual and the world has become a global village. The online resources which are available to a millionaire are now also available to a poor boy living in an orphanage.

The fourth industrial revolution encompasses the time followed after 2010, where data and sensors would get the job done. Economists predict that the world industry would start to revolutionize according to certain parameters – IOT and machine learning will be heavily relied upon. Data analytics would be used to maximize productivity cycles. Layman manual jobs will be replaced by machines and robots and searching people would be highly sought after who are accompanied with certain technical skills to control machines. Amazon and Alibaba, are two prime examples of digital transformations. These multi-billion enterprises are employing the use of bots and sensors to enhance their prototyping and product optimization. Irrespective of global location, the holistic supply and demand is kept in-check.

But there is catch. The grass is not greener on the other side. The economists share a view that the most beneficiaries of fourth industrial revolution are the people who provide workers with technical and technological oriented jobs. They fear that the rise of fourth industrial revolution will, on one side create a more distinctive boundary between rich and the poor, and will outcast people from their jobs who are not fluent in technical expertise.

Overall, the shift from simple digitization to data oriented heuristics is forcing companies to change their working methodologies. In times like these, it is safe to say that the future is secured, only for those who are updated with technical skills as well as can predict the tide of newer challenges.

How will the digital future look like, will a robot take your job?