Entering the Fourth Industrial Revolution

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Entering the Fourth Industrial Revolution

The world is rapidly changing as we move through the Fourth Industrial Revolution (often called 4IR or Industry 4.0), and with this change comes new knowledge, new skills and new challenges. Challenges for businesses, for entrepreneurs and for innovation.

What is the Fourth Industrial Revolution?

The Fourth Industrial Revolution describes the fusion of the digital, biological and physical worlds, utilizing the advances in areas such as artificial intelligence, robotics, 3D printing, quantum computing and other technologies. It is a force that has been fast shaping modern life. Think virtual assistance systems such as Amazon Alexa, Pokémon roaming around the streets on Pokémon Go and financial technology disruptors such as Monzo.

We Know, That We Don’t Know.

According to a Dell Technologies and Institute for the Future report, 85 percent of jobs in 2030 don’t exist yet. There is an instant demand to ensure that our workforce of the future can thrive in an ever-changing world where what we know, is that we don’t know. We don’t know what is coming next, we don’t know the next big technological advancement, we don’t know the next life-changing product. We have become so used to the integration of 4IR products and services in modern life that we don’t notice when change is happening so easily around us.

Lifelong Education is Paramount.

Education plays a significant role in this and it is paramount that education becomes a lifelong endeavor, and the platform for education must evolve to provide those opportunities. Companies must anticipate the impact of automation and technology on their workforce, but more importantly graduates must be prepared to step into a working environment that will continuously change throughout their studies.

Change must be embraced; it must be welcomed. It should not be about waiting to see what jobs are going to be replaced with automation or artificial intelligence, but how you can embrace change and create demand for new jobs. Through the development of skills such as emotional intelligence, creativity and critical thinking students will become key players in the 4IR landscape.

Core Entrepreneurial Skills.

In the World Economic Forum’s “Future of Jobs” report, it was found that 35 percent of core skills will change between 20 15 and 2020. Now we are in 2020, and we can see that this is becoming more relevant and demanded by employers. Therefore, ensuring that students can develop these key skills alongside their education is extremely important and facilitating their growth during their studies is key.

Whether they want to work in aviation or hospitality, run their own business or work for a large organization, it is important that students are prepared with the necessary entrepreneurial skills to be an innovator, a disruptor or a leader. Through embedding the core entrepreneurial skills into all aspects of their studies they will learn to thrive in a challenging and ever-changing environment and develop the business acumen needed to be resourceful, resilient and curious.

We must prepare students to think differently, act differently and not be afraid to take risks because this is how they will succeed and thrive in the 4IR.

The American University in Switzerland offers students a personalized education experience ensuring graduates are ready to thrive in their chosen career path. We ensure all our students are equipped with the knowledge and skill set needed, regardless of their specialisation. Through our teaching methods, students are prepared to navigate the diverse and every-changing world we live in.

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