Future of Work: Evolution of Jobs during Industry 3.0 and 4.0
I. Introduction
Technological progress has always been a double-edged sword, promising prosperity and creating fears of job losses simultaneously. The third and fourth Industrial Revolutions were no different. From the democratization of computing power and connectivity in the Third Industrial Revolution to the Fourth Industrial Revolution’s immersive, ubiquitous technology that blurs the physical and digital spheres, these periods mark significant shifts in how we live and work.
II. The Rise of the Information Age
The democratization of technology began in earnest post the 1970s, with personal computers becoming a common sight in homes and offices. The US led this revolution, with its computer workforce growing from virtually non-existent in the 1970s to around 4.6 million by 2010, according to the US Bureau of Labor Statistics. Similarly, in India, the IT and business process management sector expanded to a whopping $181 billion in 2018–19, demonstrating the global impact of this revolution.
The rise of e-commerce led to a decrease in demand for traditional retail jobs, while the advent of online travel booking sites saw a decline in the need for conventional travel agents. However, the widespread adoption of computing, automation, and the internet led to the emergence of IT support and Digital Marketing as thriving careers. These roles gained massive prominence due to the significant shift in the demand-supply ecosystem caused by the online revolution and the democratization of computing.
III. The Era of Tech Titans
The 70s and 80s marked the birth of tech giants like Microsoft, Apple, and later, Google. Along with Amazon (which launched AWS in 2006), these tech titans have shaped the way software is developed and consumed today. Microsoft’s Visual Studio initiated a revolution, making coding more accessible for developers and paving the way for citizen developers. Google’s groundbreaking work in data analysis led to the rise of performance marketing roles. Apple’s emphasis on intuitive, aesthetically pleasing interfaces led businesses to realize that UX design was not a luxury, but a necessity. This put UX design at the forefront of business strategy, where previously, design was merely about creating a functional and attractive interface.
IV. The Open Source Movement: Democratizing Technology
The open-source movement, a significant outcome of the Third Industrial Revolution, democratized technology, making it accessible to all. Linux and Apache were at the forefront of this movement, enabling individuals and businesses worldwide to leverage the power of technology without incurring substantial costs. This shift from proprietary to open technology led to the creation of millions of high-skilled jobs.
Apache, for instance, powers over 40% of the world’s websites, creating a constant demand for developers proficient in Apache’s software solutions. The Linux Foundation reports that over 75% of enterprises worldwide use Linux, leading to a surge in demand for Linux professionals.
V. The Fourth Industrial Revolution: AI, IoT and Beyond
As we were still grappling with the implications of the internet, the Fourth Industrial Revolution quietly made its entrance. This era was not just about digital technology; it blurred the lines between the physical, digital, and biological spheres.
Automation took a leap forward with the advent of Artificial Intelligence (AI) and Machine Learning (ML), enabling data analysis that would have taken weeks to be completed in mere minutes. Advances in image recognition led to machine vision becoming an integral part of our daily lives.
Cyber-physical systems such as the Internet of Things (IoT), advanced robotics, and 3D printing emerged, revolutionizing industries from manufacturing to healthcare. Global spending on IoT alone is projected to reach $5.1 trillion by 2025.
In the U.S., the number of AI jobs increased by 450% between 2012 and 2017, while India saw a growth of 270% in AI professionals during the same period.
VI. The Digital Space: The Emergence of Influencers and Remote Work
The rise of social media and digital marketing has redefined the relationship between businesses and customers. At the same time, the surge of remote work and digital nomadism illustrates how technology has liberated us from traditional office spaces. According to a study by FlexJobs and Global Workplace Analytics, there has been a 159% increase in remote work in the US over the last 12 years.
The advent of social media platforms ushered in a new era in the job market: the age of influencers. As platforms like Facebook, Instagram, YouTube, and later TikTok, became central to our digital lives, a new type of career began to take shape. Individuals started leveraging these platforms to create personal brands, attract followers, and influence their purchasing decisions. From beauty gurus to fitness trainers, from travel bloggers to culinary wizards, these influencers turned their passions into profitable professions. This phenomenon has drastically redefined the concept of fame and success. In 2020, Instagram, for instance, had over 500,000 active influencers, and the influencer marketing industry was projected to reach $15 billion by 2022.
VII. The Dawn of AI and VR
AI and Virtual Reality (VR) have begun revolutionizing various sectors. AI’s applications range from automating repetitive tasks to predictive analytics, while VR’s immersive experiences have applications in gaming, real estate, healthcare, retail, and many more industries. The demand is steadily growing and supply hasn’t been keeping up. According to a source I have in the industry, the shortage for trained professionals in AR/VR design in India is as high as 89%.
VIII. The Pop Culture Influence
Pop culture often reflects societal trends and anxieties. Sci-Fi, as they say, often precedes scientific reality. Films like “The Terminator” and “The Matrix” depicted AI as an existential threat, reflecting our collective unease about AI’s potential to make human workers redundant.
IX. The Importance of Tech Leadership
In this new era, every company, regardless of their primary industry, needs to be, in some aspect, a technology company. Therefore, it is crucial to have technology leaders who can guide the digital transformation journey and drive innovation. Never before was technology strategy and execution a mandatory ask from business leaders. Today, and continuing from the last 10 years to be honest, companies risk stagnation and obsolescence without adept tech leadership.
X. Conclusion: The Democratization of Technology
The Third and Fourth Industrial Revolutions marks a continued democratization of technology. As technology becomes increasingly accessible, it’s not just about consumer proliferation but also the empowerment of creators. As there are more consumers, the demand for creators grow. Then products and platforms are created to make it easier to create and the cycle continues, with each cycle shorter than the last.
In an ever-evolving job market, adaptation remains crucial. As these revolutions have shown, with every job role made redundant, a plethora of new, hitherto unimaginable roles emerge. The most significant shift these revolutions have brought is that they have turned users into creators, consumers into producers, and passive watchers into active participants. This continuous cycle of innovation and accessibility shows no signs of slowing down as we stand on the brink of the Fifth Industrial Revolution.
In the next article, I plan to analyze the common patterns in the 1st four industrial revolutions and use them to predict the job market in the next few years, especially given how Generative AI is reshaping jobs as we speak.
