The World Economic Forum's 2018 Future of Jobs report reveals that the Fourth Industrial Revolution is interacting with other socio-economic and demographic factors to create a perfect storm of business model change in all industries, resulting in major disruptions to labour markets. The findings of the research reveal the need for a comprehensive 'augmentation strategy' - an approach where businesses look to utilise the automation of some job tasks to complement and enhance their human workforces' comparative strengths and ultimately to enable and empower employees to extend their full potential. It emphasises that to unlock this positive vision, workers will need to have the appropriate skills enabling them to thrive in the workplace of the future and the ability to continue to retrain throughout their lives. Crafting a sound in-company lifelong learning system, investing in human capital and collaborating with other stakeholders on workforce strategy must be key business imperatives, critical to companies' medium to long-term growth. 

 

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World Economic Forum