CTSI GM Dusan Milicevic on the Kopaonik Business Forum

The fourth industrial revolution’s influence on a labour market development is potentialy huge, and insufficiently predictable for the time being.

Beside a great expectations and (un)noticed business opportunities that supercomputers, intelligent robots, self-driving vehicles, neuro-technological interventions on a human brain and genetic research bring – the fourth industrial revolution also brings uncertainty in regards to its overall effects.

A need that people from both wordls of science and business present their opinions and inform the public on the possible paths of development has caught sight in our country, because of which our GM Dušan Milićević was invited to present his views as a panelist on the recently organized Kopaonik Business Forum.

“Great changes have already happened in a short period of time. No one can tell with a great certainty how will they effect the labor market and companies in future years. We all need to ’follow’ these changes and succeed in making us the beneficiaries of this revolution, and not vice versa. As an IT company, our goal is to understand these changes and offer tools to other industries, which will serve them in order to become more efficient and profitable” – Milićević said.

Fear of the rise of unemployment, which characterized previous industrial revolutions, exists even today. Like times before, some jobs will disappear while others will appear, especially if we have in mind that technological development brings growth and development of human needs. The employment level is not under threat from a technological progress, while the questions of the changes in a work environment as well as a fading connection between a formal education and dynamic needs of the labor market come into to account.

A number of full-time employed personnel is getting smaller, while a number of people working from remote locations or from their own home is growing. The same goes for a number of consultants that are getting hired on limited time projects. From a technologic standpoint, these changes are happening because of the internet popularization, cloud, Big Data, the IoT. Existing formal education, from elementary schools to universities, is not adapting fast enough, even in the developed countries. Between 11-16% of the employed in the IT sector have a formal education or great experience in programming, java, html, javascript, c++, c#, etc.

Fourth industrial revolution brings fusion of physical, digital and biological world, redefines economic theory and practice and “calls in question what does it mean to be a human”. Further debate, practical examination and scrutiny through business practice, research and development, are an obligation of all socially responsible companies and potential benefits are grave and still incomprehensible – on both micro and macro fields.