Is the significance of human capital changing due to the ongoing fourth technological revolution known as Industry 4.0? Can the role of human capital decrease in the perspective of the next 20-30 years due to the development of Information Technology Industry 4.0? How will the labor market change? Will robotics change the labor market by reducing jobs for people? Will new kinds of professions and jobs for people be created?
The current technological revolution, known as Industry 4.0, is determined by the development of the following technologies of advanced information processing: Big Data database technologies, cloud computing, machine learning, Internet of Things, artificial intelligence, Business Intelligence and other advanced data mining technologies. How will the current technological revolution Industry 4.0 change the labor market in the next 20-30 years?
Some analyzes of the prospects for the development of labor markets suggest that due to the development of information technology Industry 4.0 in 2030, 70 percent. professions and workplaces will be new types of professions, specializations, etc. in the scope of work performed by people, whose names we do not know yet.
Will new types of professions and workplaces for people be created in connection with the development of Information Technology Industry 4.0, which will be a kind of buffer for the reduction of other jobs due to progressive robotization, implementation of artificial intelligence, Internet of Things to the processes of production of goods?
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In a fast-changing and increasingly interconnected world that demands more individual and collective contributions than ever before, we may have to bridge the hitherto somewhat artificial divide between human capital and social capital. Synergizing—perhaps even integrating—human capital and social capital summons practical and research insights into how individual-based knowledge, skills, and abilities can be developed both singly and in unison with network-based knowledge, skills, and abilities for the (higher) purpose of creating organizational value. From this perspective, it would therefore appear that significance does not lie so much in a new "definition" of human capital (let alone a reduced role as the query surmises) but, rather, in how its function might be expanded with enhanced learning of complex processes and fructified more effectively in social capital applications, especially regarding creativity and innovation.
In a fast-changing and increasingly interconnected world that demands more individual and collective contributions than ever before, we may have to bridge the hitherto somewhat artificial divide between human capital and social capital. Synergizing—perhaps even integrating—human capital and social capital summons practical and research insights into how individual-based knowledge, skills, and abilities can be developed both singly and in unison with network-based knowledge, skills, and abilities for the (higher) purpose of creating organizational value. From this perspective, it would therefore appear that significance does not lie so much in a new "definition" of human capital (let alone a reduced role as the query surmises) but, rather, in how its function might be expanded with enhanced learning of complex processes and fructified more effectively in social capital applications, especially regarding creativity and innovation.
Higher qualifications with specific professional competencies and 40 key competencies are required to repond unknown future requirements. Teams become much more relevant because of increasing complexity (one individual such as Leonardo da Vinci has not all the required know-how which is distributed in teams with diversity), the people must more intensively focus on innovation & productivity for survival of the organization. Leadership 4.0 will have a more human shift accepting power to be distributed among team members...
New technologies will radically change industry. The adoption of those new technologies will be aided by the public demand for higher minimum wages. Those two forces (the availability of new technology and the rising costs of human involvement) will definitely hasten workforce alterations. The real longer-term question is "What will people do when it only takes 10% of the population to produce 100% of the required goods and services?" Thanks for initiating this Discussion.
This topic have been of interest seeing how technology advancing in the world today. Information technology is gradually becoming powerful resources of an organization ahead of the traditional resources of organization such money, labor(human capital) and materials. Ideally technology is part of material resources, but for the immense contribution to business and business process I have proposed it to be a the fourth resources of an organization. Though technology is making waves, and contributing significantly to industry, I am of the opinion that information technology cannot replace human capital. I am making this assertion because human capital or human resources is the most powerful resources of an organization. The human capital is the only resources that works on the other resources including technology to produce goods and services. Therefore the significance of human capital cannot be replace by any other resources of the organization including technology.
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