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Now a fourth Industrial Revolution, also known as "Industry 4.0," is related to smart innovation. It builds upon the third digital revolution and is driven by a combination of technologies that blur the lines between physical, digital and biological scopes.With the fourth Industrial Revolution, growth is expected to rise exponentially in terms of technical change and socio-economic impact.The 2018 World Economic Forum featured two developments winning the attention of world leaders: the fourth Industrial Revolution and the "reskilling revolution," in terms of what the future will look like and whether we are prepared for it.These transformations, led by technological innovations, changes in demographics, shifts in business models, business value creation and work allocation, call for different skills in the labor market.As jobs become automated, replacing humans with artificial intelligence and robotics, workers need to acquire skills that enable them to face this permanent market change. For businesses, relying only on new workers with the right ready-made skills will no longer be sufficient.
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