Generation Alpha (Tech native)

• Generation Alpha is expected to reach two billion by 2025.
• Automation and artificial intelligence will result in at least 54 per cent of all employees globally requiring significant reskilling and upskilling by 2022.
• 95% of the 1.4 million American workers expected to be displaced out of their roles in the next decade can be reskilled into new jobs with higher wages at a cost of $34 billion.
• By next year, projections show that 43 percent of the U.S. workforce will participate in the gig economy, with no signs of slowing down.
• The private sector could reskill 25% of U.S. workers in disrupted jobs with an overall investment of $4.7 billion - and still reap a positive cost-benefit balance.
• With rapid technological change driving the onset of the fourth industrial revolution, demand for digital skills training is booming, particularly in Africa, where more than 200 million jobs will require new skillsets by 2030.
• In the US alone, with an overall investment of US$4.7 billion, the private sector could reskill 25% of all workers in disrupted jobs with a positive cost-benefit balance.
• The US private sector could reskill 25 percent of all workers in disrupted jobs at a cost of US$4.7 billion with a positive cost-benefit balance.
• Across all countries and regions, employers expect that significant reskilling will be needed by a large share of the global workforce over the 2018-2022 period.
• The steep rise of the gig economy over the last decade has ushered in a whole new era of job opportunities for Americans.
• Over half the global workforce will require significant reskilling and upskilling in the next few years.
• 50 percent of employers expect that automation will lead to a reduction in their full-time workforces by 2022 - and more than half of the world's workers will require significant reskilling.
• In the US, more than 35 percent of the workforce seems to be participating in the gig economy, and that number is expected to jump to 43 percent by 2020.
• The gig economy - everything from consultants, to drivers, to caregivers - currently represents 34 percent of the American workforce and is expected to grow to 42 percent by 2020.
• The Fourth Industrial Revolution and attendant rapid technological changes are creating opportunities for improved quality of life and increased national competitiveness, but are putting some traditional jobs at risk.
• Jobs markets are unpredictable and even full-time workers cannot surely say that they will have a job in a year, making the gig economy a possible future for all of us.
• In the next few years, companies will need to make critical decisions about what jobs to displace, how to reskill employees, and what new jobs to create.
• In 2019, industry will see a significant uptick in universities ramping up AI programs, as well as businesses reskilling and upskilling their current workforces to remain relevant in competitive markets.
• In practice, the small size of the gig economy revealed this year shows most jobs inside companies will likely remain as they have been for decades: traditional employment relationships.
• To address evolving talent requirements, CFOs expect their participation in the gig economy to grow by 88 percent in the next three years, including increased utilization of outsourced, contingent or gig workers, and higher utilization of shared services or offshore personnel.
• The Fourth Industrial Revolution would be on a much greater scale than the previous three and said the UK will need a skills revolution to avoid unemployment on a mass scale.

Last updated: 02 October 2020