Labor market and education in the conditions of fourth industrial revolution

Digital economy: theory and practice

The Modern society is on the verge of the fourth industrial revolution (often called the digital industrial revolution) associated with the introduction of robotics, cyber-physical systems, artificial intelligence, neural networks, cloud, and quantum technologies. Under the influence of informatization, the structure of the world economy is changing: many traditional industries are losing their importance, new industries are rapidly developing, new relations in the production are being generated. The article examines the essence of the fourth industrial revolution, its impact on the future labor market, taking into account the statistics in the world unemployment in recent years. It examines which specialists will be in demand in terms of the informatization of society, in order to prepare educational institutions for these rapidly occurring changes and ensure the employment of future generations. It is described that the fourth industrial revolution will lead to job cuts and an increase in the number of unemployed. On the other hand, the need for highly skilled workers will increase, there will be a demand for workers in specialties that are not yet available. It is concluded that the fourth industrial revolution will affect the labor market in different countries in different ways. Migration will increase, creating a new type of social and economic problems. In 2017 in Petersburg in the Economic Forum, The President of the Russian Federation V.V. Putin said that the digital economy is not a separate industry, in fact, it is the basis for creating qualitatively new models of business, trade, logistics, production, changing the format of education, so better for education 4.0. The fourth industrial revolution means both new opportunities and new challenges for the economy and society. It’s stated what professional profiles and skills will be needed in the fourth industrial revolution: solving complex problems, critical thinking, creativity, etc. Education plays a major role in this. It is necessary to ensure that each person is able to adapt to the application of new technologies through appropriate training. This is especially important for people with disabilities, elderly pre-retirement age.