Industrial Revolution 4.0: Transformation of Job Market

Girija Narasimhan (nbgir2004@gmail.com), Reshmy Krishnan (reshmy@muscatcollege.edu.om) and Ashok Krishnan (ashok.krishnan93@gmail.com)
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Girija Narasimhan: University of Technology and Applied Science
Reshmy Krishnan: Muscat College
Ashok Krishnan: Central Queensland University

A chapter in Fourth Industrial Revolution and Business Dynamics, 2021, pp 259-268 from Springer

Abstract: Abstract The fourth industrial revolution is at the beginning, and it alters the fundamental way we work and live. The technologies like Artificial Intelligence, Internet of Things, Robotics, Nanotechnology, 3D printing, Data Science are strengthening one another. The fourth industrial revolution has made an impact in social and economic domains in the form of loss of many current jobs or shifting of nature of work, and in the delivery of public and private services. This paper explores the transformation of the labor market which demands innovative professional skills due to industrial revolutions 4.0. The topics like the origin of IR 4.0, technical revolution, the impact of I.R 4.0 technology, employment crisis due to IR 4.0, the transformation of the job market, and the necessity of emerging skills in the industry were discussed in this paper. An analysis of the impact of digitization in the labor market is done here.

Keywords: Industrial revolution 4.0; Artificial Intelligence; Internet of Things (IoT); Transformation; 3D printing; Digitization (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-16-3250-1_13

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DOI: 10.1007/978-981-16-3250-1_13

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