Over the next decade, a new wave of digital technologies is set to reshape how we live and work. While adopting new technologies and automation will most likely lead to job losses in many industries, technological innovations also offer opportunities to create new jobs and roles that previously did not exist.
Now, more than ever entrepreneurs are gaining access to digital tools that could be a game-changer for them. Which is why it’s so important that embrace digital technology as an enabler and take a leading role in driving adoption of new technologies. 3 of the biggest, emerging technologies, namely artificial intelligence (AI), blockchain and the Internet of Things (IoT) are creating incredible opportunities for job creation. Here’s who they’ll change our lives in the months and years to come:
AI and automation
The rise of AI (Artificial Intelligence) and automation is one of the most exciting trends in digital technology at the moment. Intelligent systems are playing a bigger role in our lives, whether by recommending personalised music playlists, answering customer questions via a chatbot, or even helping you to better perform daily household chores.
While you may think automation using AI technology will mean massive job losses, the industry will very likely lead to job creation and an increase in demand for skilled workers. The bigger upside for the human workforce is that, by automating the more mundane, repetitive or back-breaking tasks, more jobs can focus on higher-level skills that involve innovation, creativity, empathy, complex decision processes or teamwork.
Technologists and engineers will, of course, still be needed to develop and maintain AI-based systems and smart automation and many jobs will still be necessary even in fields where automation has been implemented in a significant way.
Machines won’t eliminate the power of the human touch. People in professions like sales, customer support, health care and education will continue to be valued because of their ability to build trust with people, motivate them and help them meet complex objectives. Robots can’t easily replicate empathy and people skills. But, while professionals such as teachers, caregivers and creatives will still have jobs, they will need to “retool” themselves and adjust to a tech-friendly environment.
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IoT (The ‘Internet of Things’)
IoT, or the ‘Internet of Things’ is blowing up. Awkward buzzword aside, this tech trend is set to integrate technological innovations into our lives in ways we never could have imagined. In essence, the “things” so eloquently referenced in the name refers to machines, connected to the internet, embedded with sensors that gather, store and analyse data. The device can then upload that data for further processing, download updated software, and even allow the device to be controlled from afar.
By 2025, the IoT market is expected to grow to around 75 billion connected devices—cars, home appliances and sensors, wearable computers, smart office tools, equipment in smart factories, and more besides. As with AI, this technology will have an increasingly large impact on our daily lives. That’s why it’s critical for business people and entrepreneurs to get involved now.
These intelligent machines are already altering industries like health care, manufacturing, power generation, agriculture and household management. The devices themselves might be small, but they’re gearing up to cause big shifts in how we live and work.
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Blockchain and cryptocurrency go so much further than just Bitcoin. This exciting technology is radically disrupting a number of industries due to the fact that it is a highly efficient and secure means for recording and sharing data and transactions. This is highly significant for business.
Apart from blockchain’s potential role in changing how we transact and how many corporate business processes work, there is also growing excitement about using it to empower entrepreneurs in disenfranchised communities.
In many poorer parts of the world, entrepreneurs are under- or unbanked. They have worse access to financial services which in turn, often means they need to travel long distances when needing to make a payment or remittance, or that they need to store money under their beds. Blockchain could offer tools that solve age old-problems for the financially excluded, such as digital identity management, credit scoring, storing savings and simple, trusted transactions.