Framed against the background of disruption through technological advances and continued evolution of the business landscape, one of the key concerns for workers will be continued employment opportunities in the Fourth Industrial Revolution (Industry 4.0) paradigm and for companies it is the ability to source for the appropriate skills sets required to meet their requirements. Labour-augmenting and labour-displacing technology in particular is at the heart of transforming business models and the ensuing human capital needs for companies both large and small. IPS August 2019 ENewsletter Report on Workshop on Human Capital Needs in Industry 4.0
This workshop aims to surface the challenges that both employers and educators who develop the skillsets of workers have to overcome to meet the challenges of human capital development. With current discussions on Industry 4.0 focussing on the potential displacement of workers via labour-displacing technology, the conversation on augmenting workers with technology, redesigning the job scope and working environment is muted.
We intend to create better synergy between education institutes, industry and workers to make sure that workers will be prepared for the new work paradigm, be gainfully employed and achieve greater job satisfaction in the Industry 4.0 paradigm. Through candid, in-depth discussions, this workshop will inspire a convergence of targets to reduce the mismatches in terms of demand and supply of human capital needs. Key questions to be considered include the impact of Industry 4.0’s coming on workers and the role of education and industry in preparing workers for the new work environment in terms of skillsets and job design.
Following the event, we will be publishing a report and two policy briefs (more if possible) to be disseminated to the relevant government agencies and other relevant stakeholders. Through these deliverables, we will utilise the valuable discussion and convert them into implementable policies to ensure Singapore’s place at the forefront of Industry 4.0.
The discussion will be conducted strictly under Chatham House Rule.