The next revolution is in the field of Education. Unless there is, jobs will be lost to mediocracy and inefficiencies. The current situation being gloomy, lot of time, effort and money is spent on re-skilling of graduates [fresh pass-outs from colleges & universities].
At the existing rate in near future the new normal will make the resources spent in educating valueless and the time spent redundant. We know that a kid expends 15 years on an average schooling & higher education through colleges. At the end of the gamut, the skills that most of them posses are just above reading & writing, reasoning and to some extent technical awareness.
According to research conducted only 20% to 30% of all graduates / pass-outs are employable!!!
Larger companies need to re-school these college pass-outs or wait till someone skills them for 1 year. Other smaller companies settle with internship projects but the turnaround for reskilling is more than a year. Startup will try the graduates for 6 months for free or with little stipend. Even so most of them do not become fully productive for atleast 2 to 3 years for high skilled technologies such as for the current trend of IOT, Analytics, AR/AI or even cloud computing.
So where is the Gap? Are the hiring companies expecting too much out of these fresh graduates? Is the change in technology so rapid that education institutes cannot adopt the technology? Or Are our students not smart enough to learn the employable technology at the schooling age? Or Is it the education system not able to produce employable skilled people who can be productive on day one of their career?