It has been reported that nearly 200,000 jobs could be created in the manufacturing industry over the course of the next 10 years as a part of the âfourth industrial revolutionâ. This advancement has been heard of for some time, as industries start to make the most of robotics and AI in order to reduce the need for manual labour, leading to a revolutionary change in the industry. These changes have been met in places with doubt and uncertainty, with specific concern about a loss of jobs to robots and electronic solutions.
However, a new report that has been released by a group of some of the countryâs leading companies has highlighted the benefits that are being offered by robotics, 3D printing, virtual reality and artificial intelligence. The report has suggested that a new emphasis be placed on to encouraging digital technology as well as the skills that are needed for jobs in the future. If the boost in skilled jobs associated to digital manufacturing occurs, there could be around 175,000 manufacturing jobs created.
Encouraging the fourth industrial revolution could also lead to the manufacturing industry receiving a boost of around £455 billion over the course of the next 10 years. With the potential for the sector to grow by 3%each year. The Chief Executive of Siemens UK and Ireland, and the Chair of this report group, Professor Juergen Maier has said that both the business and the academic community have created a vision that would require a significantly higher level of ambition from Britain in order for them to be a world leader in this fourth industrial revolution.
The proposalâs that have been set by the countryâs leading companies should help businesses to understand and put into place the latest technology that can help to nurture more homegrown research and development as well as the creation of new industries and, along with them, more highly skilled and well paid jobs.