Future of the Technician Workforce Study

The Response to Industry 4.0 Businesses that wish to harness i4.0 technologies must proactively consider a comprehensive strategy that prioritizes investments in human capital and collaborative partnerships. McKinsey & Company summarizes three core actions manufacturers can employ to capture the potential promised by Industry 4.0. x FOCUS ON GATHERING USEFUL DATA TO GAIN NEW INSIGHTS :  Identify the primary value drivers of the business  Examine the impacts on business productivity  Determine which technologies will deliver a return on investment EXAMINE NEW TYPES OF BUSINESS MODELS TO ENSURE COMPETITIVENESS :  Digital “platforms” for exchanging products, services, and information  Pay-by-use and subscription-based services  Licensing of intellectual property  Monetization of data TRANSFORM INTO A DIGITAL ORGANIZATION :  Hire digital talent  Deploy i4.0 technologies and architectures  Address data management and cybersecurity challenges The World Economic Forum (WEF) conducted a survey of 313 global companies across 20 economies to understand how companies are responding to Industry 4.0 in the 2018–2022 period with respect to:  Technology adoption  Impact on workforce growth strategies  Re-skilling needs  Strategies to manage the skills gap  Partnering strategies to manage integration of i4.0  Impact on human-machine collaboration  Emerging in-demand roles The following figures depict those key survey results from WEF’s Future of Jobs Survey 2018. xi

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