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Fourth Industrial Revolution; Would Pakistan be a Potential Winner or Loser?

Around the middle of the twenty first century, world will be facing the fourth industrial revolution that will change the ways we work, live and relate to one another, be the result of advancements in artificial intelligence (AI), genetics, robotics, nanotechnology, biotechnology, computers, algorithms and 3D printing. The Fourth Industrial Revolution is opening up huge growth prospects for the world economy, while at the same time appearing new or worsening existing problems, one of which is unemployment. Automation and digitalization may result a jobless future and this debate is on theoretical as well as on empirical fronts since last decade. This paper is an attempt to explore fundamental transformation of employment patterns as a result of fourth industrial revolution with special reference to Pakistan. The main conclusion of the study reveals that large numbers of jobs are likely to be destroyed in future with advent of computerization at mass level. After brief analysis, this study provides some insights to be considered to combat the challenges and opportunities of fourth industrial revolution for the country.