Future Fluency: Mastering Key Skills for What Lies Ahead

The Fourth Industrial Revolution shifts into automation, data exchange, IoT, cyber-physical systems (CPS), cloud computing, and AI. Industries were more dominant in either in making a profit or focusing on charity. Today, more organizations are finding the intersection between making a profit and charity. Sustainability is at this intersection and will define profitability in the future, in the Fifth Industrial Revolution, possibly.

Technological breakthroughs, such as the Web 3.0 or generative AI are driving these shifts and fueling labour-market transformations. Based on data from the World Economic Forum, there can be a 23% change of jobs with a 44% change of workers’ skills in the next 5 years. This occupational disruption drives job transitions between emerging and declining roles. 

As skills evolve, businesses are intensifying training efforts. In 2020, 42% of workers underwent skills gap training, slightly decreasing to 41% in 2023. Recognizing skills gaps as a key barrier to industry transformation, businesses prioritize on-the-job learning to achieve goals. Formulating effective reskilling and upskilling strategies for the next five years is crucial for maximizing business performance. 

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