HRD’s Role in Preparing Graduates for Life and Work During the Bioeconomy

Abstract: Humankind across the globe has experienced drastic changes in light of each industrial revolution eras. What we are today and what we will be in the future is a product of major technological and industrial breakthroughs. The 1700s marked the first industrial revolution of our modern time. It was followed by the 2nd, beginning 1870s, then the 3rd in the 1970s, and currently the 4th industrial revolution. The 5th industrial revolution is imminent. According to the World Economic Forum (2020) it is estimated that by 2025, 85 million jobs will be displaced, and people will rely more on machines than humans. Integrating technology in business is crucial for the survival and thriving of organizations. The role of Human Resource Development (HRD) is as vital as ever to help graduates navigate the industrial revolution and the changes that come with it. Lessons from previous industrial revolutions (IR) are useful in helping us understand the present and prepare for the future. The first industrial revolution (IIR) ignited in England in the 1700s. Agriculture, cotton, and iron industries moved to large-scale operations and adopted labor-saving machinery. During IIR, people moved from rural areas to industrial hubs to satisfy their labor needs (Deane, 1979). The 2nd industrial revolution (2IR) was marked by mass production, assembly line, and the use of electricity. Russia and Japan were among the newcomers that joined the revolution. In Japan, the government relied heavily on its human capital. Training and development strategies to learn from the western experience were adopted. The west, on the other hand, moved to a more sophisticated organizational structure. The 2IR with its technological advancements allowed semi-skilled workers to perform complicated tasks efficiently (Sterns, 2020). The third industrial revolution (3IR) experienced a shift to automation and the use of computers for the first time. In addition to Japan and Europe, the post-World War 2 world was able to rebuild fast, and new mid-sized nations and city-states joined the industrial revolution. Globalization was a natural result of the 3IR Markets became closer (Sterns, 2020). The 4th industrial revolution (4IR) is driven by cyber-physical systems and the Internet of Things. More sophisticated computer hardware, software, and the mobility of the internet created new possibilities. Companies are now able to produce more with fewer expenses. The need for workers decreased compared to previous years (Schwab, 2016). The fifth industrial revolution (5IR) is expected to shed light on the world soon (Demir, Döven & Seze, 2019). It will be defined as the bioeconomy with human-robot co-working. According to Birner (2018) bioeconomy refers to “the use of biological knowledge for commercial and industrial purposes” (p. 19). Companies are seeking new talents that can assist them in navigating bioeconomy (Ciriminna et al., 2022). Complex systems are likely to emerge that allow thousands of small entities to interact to solve complex problems. Moreover, the integration of different disciplines will be one of the key features of 5IR (Skobelev & Borovik, 2017). COVID 19 is believed to accelerate our move to 5IR. We already see the integration of artificial intelligence in medical diagnosis and testing (Sarfraz et al., 2021). The workforce was subject to great changes during 4IR. Soft skills have become more important. Employers are now looking for workers that possess skills such as critical thinking, problem-solving, and multitasking (Kazancoglu & Ozkan-Ozen, 2018). Organizations are forced to adopt a learning culture to keep their competitive advantage (Ivaldi et al., 2021). Upskilling and reskilling employees are crucial for employees and organizations to cope with the demands of 4IR (Wahab et al., 2021). HRD is playing and will play a critical role in preparing students and employees for the current and future IRs. Schwab (2016) identified four types of intelligence that are important for the development of individuals in the bioeconomy. First, contextual intelligence refers to the nurturing of the mind and the cognition processes that assist learners in understanding and applying the knowledge learned. Second, emotional intelligence looks at how learners process and integrate their thoughts and feelings and relate to themselves and to others appropriately. Third, inspired intelligence which refers to the soul or spirit and how the learners use their sense of individual and shared purpose, trust, and other virtues to effect change and act towards the common good. The fourth intelligence is physical intelligence. It refers to the body and how the learners cultivate their personal health and well-being and that of those around them to be in a position to apply the energy required for both individual and system transformations.