Industry 4.0 & Made in China 2025: How will industry jobs evolve and what effects will these strategies have on the workforce?

Abstract

The objective of this thesis it to better understand the concept of Industry 4.0 and how it will change the way we work, live and communicate in the coming future. The German powerhouse of manufacturing is often used as an example.To begin with, this thesis looks back to the first industrial revolution in the 18th century, how it started and the significant changes that followed. From there it takes a look into the Industrial revolutions that followed in similar context. Industry 4.0 is explained as well as some of its main components. The thesis closes with a look at Chinas strategy to implement Industry 4.0 which they have named “Made in China 2025”, as well as with a close look at an international company with a factory in China and their future plans with the strategy. Many questions have been asked in regards to Industry 4.0. What effects will this upcoming industrial revolution have on the world as we know it? Will it change the way we live? Will it create or destroy Jobs? Will it change demand for certain types of skills? These topics will be lightly discussed in this thesis but the main focus will be to answer the following question: “How will industry jobs evolve and what effect will Industry 4.0 have on the workforce?” Many people will lose their jobs, the ones that stay in the workforce will have to be retrained to keep up with new technology and educated people with knowledge and experience in working with robots will be in high demand.