The job market has changed with an unseen pace in the recent few years. The rise of internet technologies, AI, Machine Learning, Data Science, are just some of the factors that define the job market in all sorts of ways. There isn’t a part of the world economy that hasn’t felt their disruption.
The term fourth industrial revolution is not anymore just a buzzword only heard at conferences and in the Silicon Valley. Slowly but surely, it is becoming a reality in many developed countries.
Here are some of the main factors that will have the most impact on the job market in 2020.
Top 5 factors that will impact the job market in 2020
#5 AI and ML Startups
The rapid advancement of AI and ML presents an opportunity for many forward thinkers that understand the core of those technologies. The number of AI and ML startups have doubled in the last two years, and according to Bloomberg and the Wall Street Journal, there are more on the way.
They predict that in 2020, we will see the rise of even more of this type of startups. Palantir Technologies, Klarna, and Byju’s are existing AI unicorn startups that are bound for exceptional growth in 2020 as well.
Anyone that works in the field of AI and ML will be a highly valued asset in 2020.
The wages will only hike the demand for suitable professionals most AI companies offer to their employees.
#4 Big Data
Big Data is one of those “not so little factors” that have influenced much of the job market. Its influence is mainly on those in a position of power; CEOs, government officials, investors, and strategy makers.
More and more decision-makers depend on what big data brings as a result. Those with the right skillset and analytical mind will thrive in 2020. Data miners and data scientists will have their hands full in the year that comes.
#3 New Products and Services
Software and other products can’t sell on their own, and you can bet on that. Salespeople have been the decisive core of almost every company and will remain in the fourth industrial revolution as well.
AI and ML can do all sorts of fantastic stuff, but they can’t make their case. Humans can!
We will see many disruptive technologies in 2020, brought by new and existing tech companies, but in any case, they need someone to make a case for them on the market. New products and services won’t sell on their own.
Remember Glengarry Glen Ross? Coffee’s for closers!
Creatives that can push a product to sell will be in high demand by recruiters.
#2 The Rise of the On-Demand Economy
The on-demand economy is taking over the world and is here to stay. That’s how things are done, and there is no way around it. The predictions are that in 2020 on-demand economy will consume more than 9% of all workforce in India.
There is already a workforce shortage for both developers and support people. There is always a need for someone to keep that app or software running. There is also a need of people that can do the groundwork like delivering that pizza, drive that car, or some other service.
#1 Automation in Production
Robots are coming, and they are coming to get your workplace. If you work in a factory lane, you should be concerned. More and more manufacturing corporations are introducing automation in their production. 2020 will be a big year for automation in production.
However, what’s trouble for one, it speaks an opportunity to someone else. Even today, the demand for hardware and automation specialists is very high at job listings like Jobsora.
The point is that if you are looking to break ground in some field and pursue a new career than hardware and automation specialist is something you need to consider. The demand is real, it will grow even more prominent in 2020, and the average wages in this industry are more than decent.
The best part is that you don’t need to have a fancy degree or anything like that. You need the right skill set which you can get from various schools and the determination.
Someone needs to fix those robots when they break down. Then why not you?