The 5th Industrial Revolution
While Fourth Industrial Revolution (4th IR) is expected to bring a better life and creating new economic environment, the world may force to evolve into Fifth Industrial Revolution (5th IR) due to the COVID-19 pandemic.
Many countries have been putting a lot of effort in improving industrial productivity by introducing new technologies like Internet of Things, 3D Printing, Blockchain and Distributed Ledger, Artificial Intelligence, Geo Engineering and Robotics Automation, etc. Governments are putting a hope that 4th IR will accelerate the economic growth by eliminating jobs with repetitive tasks whilst creating more productive jobs. However, the revolution is disrupted when COVID-19 is first identified in late 2019.
5th IR, on the other hand, was first discussed in 2019 and experts across the world are scrambling to define exactly what it will be. Nevertheless, 5th IR is expecting to bring back the focus to humanity. Five main focuses that frequently discusses in 5th IR are:
1. Uncaging recruiters
5th IR emphasizes the importance of human intelligence where it enables recruiters to better match profile against vacancies. 5th IR will also release human resource team from the major administrative tasks and allowing them to focus on growth of organization.
2. Puts women at the forefront
As businesses hire unbiasedly, women and girls around the world will be empowered. In fact, we may find more female leaders in nowadays business world.
3. Prevents the repetition of Engels’ pause
Since the first industrial revolution in 70s, employee wages has stagnated although productivity increased. This stagnation was called Engels’ pause. 5th IR is expected to eliminate more repetitive jobs and creating more jobs as related to curiosity, creativity, empathy, and judgment, which has the potential to prevent such stagnation.
4. Change the way we work
Employee and management will no longer required to read the pile of documents or sit through meetings to get current and accurate information. 5th IR will help companies to organize information as relevant to their position, employee and management may make most of the resources to focus on more strategic tasks.
5th IR is doubtfully a gradual process as concern in public health arose due to COVID-19 pandemic. Corporations and employees have adapted flexible working environment and working approach. Humanity solutions and technology are developing rapidly as respond to changes brought by COVID-19 pandemic.