The Fourth Industrial Revolution and the Internet of Things

History has always been a great indicator of past behaviour as well as of future trends. However, when you think of what future jobs may look like, you do not certainly expect to find a plausible response in the past. Technologies and scientific advancements in general make it almost impossible to predict what you will be required to know in order to get—or maintain—your job in the next six months, let alone in the next couple of years. Whilst disruption seems such a new concept nowadays, we will learn that disruptive innovations have always been part of our story. The authors look at the major industrial revolutions known to humans and discuss patterns to help us prepare for the forthcoming future.

The Future of Modern Jobs

Throughout this book, the authors have discussed the implications of the rise of artificial intelligence, Industry 4.0, the internet of things, and new business models that do not have any known precedents. While discussing the skills needed to survive in the modern economy, they have yet to address the issue of what will become of our jobs. Will our children dream of the same jobs we dreamed once before? Will they require the same studies we had to follow to reach our actual positions? Will our jobs still exist by the time we reach the pension, or will we need to reinvent everything that we know of? The authors do not have an answer to these questions; what they can do is only make educated guesses about what is about to come and be ready for it. In this last chapter, the authors see what experts think our future will look like and give their educated opinion in what to invest in our lifelong learning journey to be on top of this unprecedented disruption of the economy.

Artificial Intelligence in Practice

In this chapter, the authors discuss machine learning techniques and artificial intelligence applications, their role in business, and present a practical application of it. They try to highlight how important machine learning can be in data-driven organisations, where the cost and/or the advantages to implement such tools are far greater than having a human—or a team of humans—doing it.

Computing, Data Science and Other Skills For Managers

Managers are required to have different skills and mindset in order to be successful nowadays. Business schools around the world contributed to the standardisation of knowledge and practices in the managerial environment, with MBA programmes being a must in every leader's curriculum. However, times are changing rapidly, and traditional knowledge around accounting or strategy models and tools need to be updated to consider the innovation brought in by technology. Concepts related to data, such as data science and big data, have intrigued a huge number of people around the world. Numbers are said to be an extensive source of knowledge, invaluable to those who want to improve processes, experiences, and efficiency in general. In this chapter, the authors discuss the new skills managers should learn to try have a better understanding of the subjects, fields, or abilities recruiters are looking for. Thus, we should still read this required expertise in conjunction with other soft skills linked to emotional intelligence and leadership techniques.

AI and Other Technologies in Business

In the previous chapters, the authors discussed a switch from a traditional business model towards the modern digital business model, which seems to follow a specific pattern, as highlighted by strategist Tom Goodwin. In this economy, knowledge and data have an important role that can be compared to that of technology itself. Among other things, the authors discuss how companies need to overcome Polanyi's paradox as well as the so-called curse of knowledge—or status quo bias—according to which they might not understand how to innovate themselves because of it. In particular, some organisations might be so proficient and knowledgeable that they risk not seeing what is coming and preparing themselves for the disruption in their sector. The authors also discuss the use of AI and other technologies in business and how to use them efficiently.

The Power of Digital Transformation

In the previous chapter, the authors discussed the four industrial revolutions that are part of our economic history. Although each one of them had different innovations as driver, we can conclude that change—and the ability to sustain it—is what makes them successful. In this perspective, managers and leaders in general are required to embrace change and pursue it in the way they perceive strategy, goals, and innovative contribution. In this chapter, they discuss how to define digital transformation, the theories behind it, and more specifically, the kind of skills required to successfully master a digital transformation project. They also have the chance to interview a renowned professional in the field of digital transformation and see what experts suggest.