The technological revolution that we are in now is called industry 4.0 which is changing the entire world in an unprecedented and unfathomable way and there is no going back from here. From the viewpoint of an optimist, industry 4.0 will create many more jobs that are yet to be seen in the market. However, this revolution is somewhat walking a different path. Automation will most likely accommodate the ones that are more adept to change. In pre-historic age, we had seen survival of the fittest, in industry 4.0, we will see the survival of the ones who adapt. As a result, future worker need to be highly adaptable from both technical skills and soft skills as they will start working for multiple organizations by operating from one place which could be their home.
This is all good from job market, competency standpoint. What about people aspect?
The hectic schedules of the current day jobs are so stressful for working professionals that their stressful work schedule is leading to work life imbalance and is severely impacting personal and family lives. Should this continue, we will see unhealthy, unhappy and unfulfilling lives.
All these circumstances will lead to a condition where most will be willing to work when they want, on what they want and where they want to. Welcome to the era of gig economy. The nature of work is changing at a fast pace. The business experts and economists are constantly studying and researching the trends of the job market and how it will shape up by 2050.
According to the statistics and the trends, the careers as we know them today will die, but work will exist, although a stark change is bound to happen to the nature of work people will be pursuing. Robotic Process Automation aka RPA will have a large impact on the transformation of work nature. The gig economy will flourish. People want flexibility and choice of work on regular basis without needing to change companies, gig economy makes this possible. Organizations on the hand also benefit from this as they will want to retain the key IP in-house and push the remaining work to gig workforce.
Some statistical insights from previous years:
According to the statistical data, the US now has more than 56.7 million freelance workers. The statistical data also reveals that 38% of the independent workers are Millennial, 35% are Boomers and 27% are Gen X. Some of the gig workers agreed that they earn more money than a full-time job and the other majority of gig workers find this work culture to be more secure for them. The gig workers choose self-employment for more flexibility and to be their own boss. Some even said that working independently improved their health. However, working in this scenario has some demerits as well and those are finding suitable work every time, predicting the income from this work, etc. Sometimes, the volume of work is too much, while in other times finding an assignment takes a long time. In the U.S. alone, the growth of freelance works is 2 times faster than the traditional workforce. In the period of 2014 to 2017 only, the number of freelance workers by choice increased from 10% to 63%. Having a diverse portfolio is more secure than having one, according to most of the freelancers. The belief of lifetime job or job till retirement might be outdated in the coming days. Sharpening the existing skills and updating with new skills will be the first and primary criteria for getting jobs for that moment.
Some experts shared their views as the chances of employers seeking specialized professionals for a given time-period to complete a certain task, rather than regular employees for full-time. The technologically advanced systems also enhance the chances of fewer job opportunities due to the impact of automated machines.
What is AIDOOS? All these trends and findings of the job market lead to the introduction of a new and innovative platform like AIDOOS. The purpose of this platform is to provide a way for each individual to perform as per their ability and make the maximum out of opportunities available in the market. It brings all the subject matter experts of different specializations onto the platform and enables them with continuous flow of work. Subject Matter Experts do not need to spend time on searching for work and bid for work. The platform is designed to distribute work among SME’s as it flows in.
Benefits for Organizations: Currently organizations spend around 70% of their IT budget on maintaining the software. This is due to the structure of current IT maintenance which involves multiple organizational hierarchies at consulting firms and non-value add work. This is where AIDOOS, an on-demand software development platform comes in. The platform removes the need of hiring developers, vendors or freelancers. It also removes the non-value add layers and non-value add work. The idea of getting work done is to get the work pushed onto platform and rest is taken care by the platform. By doing so, organizations get to pay only for the work done. Organizations can also scale up or scale down their work like what they do with cloud of infrastructure. In this work process, the dependency and limitations of the institutions on the workforce are minimized as it is distributed to the Subject Matter Experts across the globe. The saved IT spend can be utilized for transformation projects.
Benefits for Subject Matter Experts: The registered subject matter expert has the access to all the IT development and enhancement work uploaded by organizations across the globe. They can pick and choose the task matching their skills, expertise and the time required to complete the task. Once the task is completed, deliver the assignments and the organization will pay for the completed assignment. Subject Matter Experts get to work on interesting and challenging work coming from organizations across the globe without the need of changing jobs. Their turnaround time is faster and their scope to earn is very high as they can take the assignments on the same functional or technical domain.
All that organizations and SMEs need to do to get started is to Sign up on the platform.
Concluding thoughts: The insights on the topic through statistical data and lot of research have revealed the fact that jobs will exist, but the nature of the works will be different. The means of earning money are changing and people are getting attracted towards the gig economy, freelancing and assignment-based jobs. So, it is obvious, in the near future, the existing jobs will get transformed into an entirely new form. The concept that robots will do everything and in doing so, the need for huge workforce working for an organization will be a thing of past. People need to upgrade their skills as well as change their thought process towards as the market moves towards gig economy. They should focus on specialization and create a brand for themselves.
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