August 21, 2018
The Fourth Industrial Revolution will be the most disruptive yet, senior economist predicts
The rise of artificial intelligence and automation will create a Fourth Industrial Revolution that will be be significantly more disruptive than the three previous industrial revolutions, according to the Bank of England’s chief economist. According to Andy Haldane, the transformation caused by automation of cognitive skills had the potential to have a greater impact than Britain’s first industrial revolution, when coal and steam changed the country, the second industrial revolution which brought chemical engineering and the combustion engine, or the widespread use of computers in the 20th and 21st centuries.








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A significant number (37 per cent) of workers (11 million people) in the UK worry their job will change for the worse and 23 per cent (7 million people) are concerned that their current job may no longer be needed, claims a survey into the impact of automation over the next decade. In the survey, carried out to mark the launch of a new Commission on Workers and Technology chaired by Yvette Cooper MP, workers were 73 per cent confident they can adapt to technological change and update their skill if automation affects their job and over half think (53 per cent) are optimistic that technology change will be good for their working lives. 
Fears of robots taking workers’ jobs appear to have lessened over the last year, a new report has suggested. Research from Perkbox and SEMrush examined fears of robots at work according to online searches from January 2015 to June 2018 in the UK and found that in just one year, from 2015 to 2016 the phrase ‘will robots take my job?’ increased from zero to 1,600 average monthly searches. In 2017, the phrase was searched 197,800 times/monthly on average. In 2018 so far, the average has dropped but it remains relatively high regardless (57,833 searches). According to online searches with keyword ‘robots’ and ‘work,’ people are gradually becoming more concerned about what jobs robots will replace first. The phrase ‘what jobs will be replaced by robots? was rarely searched in 2015. However, in 2016-17 the number rose from 200 searches/monthly on average (2016) to 2,400 on average in 2017 (a 1,100 percent increase). 
Traditional job roles are becoming more complex due to digital transformation initiatives a new poll claims, with UK businesses having to wait more than five months, on average, for new joiners to get up to speed in their jobs. In the research by Robert Half of almost 5,000 CFOs in 14 countries, CFOs in the UK report that the key skills for finance professionals are changing. With digital transformation a priority for many organisations, there is now more focus on skills such as data analysis (cited by 43 percent of CFOs), financial analysis (35 percent), and data forecasting (34 percent). Finding the right people with these abilities is made even more challenging by the fact that businesses around the world are struggling to find qualified professionals. Almost all (93 percent) UK businesses find it challenging to attract qualified accounting and finance professionals. Globally, the issue is equally pronounced, with 94 percent of businesses also reporting similar challenges.




A major global report has revealed a lack of confidence in data is limiting corporate success in the emerging era of robotics and automation. The global research launched by Qlik, has revealed an escalating skills gap preventing business decision-makers asking the right questions of data and machines. Despite 
The way to measure an employer’s speed of innovation includes how they find talent, their appraisal process, how employees recommend the organisation they work for to others, and how much employees collaborate, claims a new European study by Cornerstone OnDemand and IDC. “Future Culture: Building a Culture of Innovation in the Age of Digital Transformation” explores the relationship between European organisations’ speed of innovation and talent management, with the research showing that firms with a steady stream of new products and services are more likely to have an ongoing feedback process with employees, rather than an annual performance review, while organisations with a slower rate of innovation often use coaching and mentoring to develop employees.
Almost half (49 percent) of companies are struggling to find skilled workers as digitisation and automation cause significant change in the skills businesses look for in professionals, according to new data from Robert Half UK. As a result, one fifth (21 percent) are now looking to recruit candidates with exceptional soft skills, with a view to developing the desired technical skills on the job. In the Robert Half research, UK business leaders consider an openness to new ideas (28 percent), an openness to change (26 percent) and good communication abilities (19 percent) as key attributes and will prioritise these areas when considering new talent. Digitisation and automation are rapidly evolving the business world. Companies are having to quickly adapt to the changing world of work, and are looking for employees who can keep pace,” says Matt Weston, UK Managing Director at Robert Half.


Companies will need more, not less people, in the near-term to meet the demand stimulated by automation, claims a new report from ManpowerGroup. The report – Robots Need Not Apply: Human Solutions in the Skills, found that 91 percent of employers in the US will maintain or increase headcount in the next two to three years as industries shift to more advanced, automated processes. The report provides a real-time view of the impact of automation on headcount, the functions most affected and the soft skills that are both of greatest value and hardest to find. Frontline and Customer-Facing functions anticipate the most growth as organisations place higher value on customer service and human interaction. Manufacturing and Production functions are close behind. Back-office functions that are routine or add less value to customer interactions are under greatest threat as organisations implement new technology to drive efficiency. In this Skills Revolution the best blend of high-tech and high-touch will be the combination of human strengths with technical and digital know-how: 61 percent of companies say communication skills, written and verbal, are their most valued soft skill followed by customer service, collaboration and problem-solving.
