Blockchain, AI, and the Energy Industry
Another industry that faces imminent disruption is the energy industry. It appears, however, that this industry is already ahead of the curve when it comes to technological integration. “The 4th Industrial Revolution,” as Forbes has dubbed it, has already permeated workflow all throughout the supply chain.
This McKinsey report predicts that, in the coming years, many labor intensive and “predictive” roles will increasingly become automated and be performed by AI-enhanced robots. In addition to this, and in line with many other industries, roles that involve data processing and manipulation will also experience displacement by machines. However, while demand for physical labor and back office jobs is set to decrease, this could be offset by an increase in demand for higher level cognitive skills, emotional skills, and technological skills.
As evidenced in the infographic from the report, industry participants will increasingly need to allocate less human capital towards manual labor and more towards service-oriented jobs such as accountants and software developers. While sourcing external talent may be one way to adapt a company’s workforce, the emerging shift in skills is so pervasive that industry participants will increasingly need to seek out ways to upskill their current workforce.
The AI-powered marketplaces that the Expercoin protocol will provide will serve business executives and their employees alike in navigating this changing landscape. These smart marketplaces, called Republics, will foster specialized learning communities where industry participants can seek out experts, courses, and other resources necessary for upskilling. The adaptable framework will allow business executives to tailor upskilling to meet their vision for their company and workforce.
If you are interested in Expercoin, and its mission to build one of the world’s largest decentralized networks of marketplaces to advance learning and create jobs for the digital economy, click here.
If you would like to hear more about how the financial services industry may react to oncoming technological advancements, you can listen to episodes of Masters of Blockchain here.