Learn or leave the market

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The Labor Market Today. Chapter 1.
THE NEW INDUSTRIAL REVOLUTION
The emergence of new technologies always led to the disappearance 
of obsolete jobs and the creation of new, more relevant and advanced 
ones.
The first Industrial Revolution took place as early as the 18th century 
and began with the introduction of mechanical labor in place 
of human labor. This change turned the very concept of labor upside 
down. Automation led to the emergence of new factories and compa-
nies, and to the generation of new jobs. Simplification of the produc-
tion process has made factory work and its products more accessible 
to the public. 
Thus, the Industrial Revolution began with the replacement of simple 
manual labor. Today, thanks to the use of computers, medium 
complex work is also already starting to lose its relevance. For exam-
ple, accounting software eliminates the need for accounting depart-
ments, while laptops, calendars, and digital diaries can help you save 
money on hiring a secretary.
Despite the fact that technology benefits markets, allowing them 
to expand even further, it hurts the employment of the general popu-
lation. Even though it is unlikely that robots at some point will replace 
us all, even today they are performing tasks that were previously 
only trusted to skilled workers. In the future, AI will be able to take 
over most jobs, undertaking the full range of responsibilities. After 
all, finding new ways of increasing productivity is the main priority 
of the labor market. We have to admit that automation always leads 
to higher production.
Today, the number of manufacturing jobs is declining in all economi-
cally developed countries. This can be seen even in China, which used 
to be known as the “workshop of the world”. In the United States, the 
number of workers employed in manufacturing represents only 15 % 
of the total workforce (which is a low figure). Therefore, most coun-
tries are facing a tough choice: if they resist the introduction of new 
technologies, their companies will lose competitiveness in the global 

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 Chapter 1. The Labor Market Today.
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market. That is why new technologies need to be actively introduced, 
and people who are at risk of losing their jobs to automation should 
start looking for a new career.
According to some predictions, the number of jobs in professions 
where algorithms can be applied will be cut down to 30% by 2025. Such 
as the aforementioned accounting. At the same time, the use of robots 
at workplaces will increase from 20 to 50% in different countries. 
On the other hand, creative work will see higher demand and salaries. 
For example, a boom in IT, Big Data, robotics, space engineering, and 
other similar industries can be observed even today.
Now robotics and machine learning have every chance of at least