Machine Learning and the Fourth Industrial Revolution

However, the most significant challenges to implementing machine learning are the perceived threat of redundancy or unemployment. In reality, machine learning should be developed to adapt to different purposes in the labour market rather than make it redundant. Machine learning might support the efficiency in the workforce, as labour intensive and monotonous tasks can be done by machines, while humans focus on higher-level qualitative tasks. The World Economic Forum (WEF) reports that despite machine learning and algorithms substituting 75 million jobs by 2022, they will create another 133 million new roles by the same period. Machine learning technologies and algorithms are influencing our everyday lives in numerous ways.