Jobs are expected to disappear and on the other hand, whichever jobs remain will require a skill-set that is different from what today’s education system is producing.
The world is changing rapidly and the jobs of tomorrow will require a completely different mindset and skill-set. According to estimates from the OECD, large shares of jobs are at risk to be lost to automation. About 14% of jobs are expected to be lost to automation and about 32% of jobs will change significantly. To further cast this prediction in stone, the World Economic Forum stated that the division of labor (as a share of hours spent) in 2018 stood at around 71:29 (human: machine). This ratio is set to change by 2022 where it is expected to be 48:52. Imagine what the ratio could be in 2030, by the time our children are ready to join the workforce?
The World Economic Forum also published its list of skills required in 2022 which included creativity, originality, initiative, innovation, analytical thinking, and active learning. Some of the skills whose demand is expected to fall are memory, auditory, spatial abilities, reading, writing, math, and manual dexterity. A simple look at the above skills shows that the skills traditionally taught in schools are getting redundant while skills that are not taught in schools will be at a premium. According to estimates, the skills shortage could put over US$450 billion worth of manufacturing GDP at risk by 2028 alone!