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The Philippines should consider developing industrial transformation maps in key sectors to
enable you to transition to the Fourth Industrial Revolution (4IR) with sufficient investment in skills development, according to a new study from the Asian Development Bank (ADB).
In a statement on Wednesday, the Manila-based multilateral lender said that its “Reaping the Benefits of Industry 4.0 through Skills Development in the Philippines” found that companies in the country showed good progress in implementing readiness 4IR. Of these, he added, at least half have adopted 4IR technologies in their operations.
Among companies in the information technology and business process outsourcing and electronics manufacturing industries, 63 percent and 55 percent, respectively, expect to see productivity improvement of more than 25 percent by 2025 after to adopt these technologies.
The study also revealed that while these technologies would eliminate roughly a quarter of the jobs in these industries, they would be offset by new jobs created from an increase in labor demand.
“To support those most at risk of job displacement, we must seek new approaches to strengthen inclusion and social protection in the context of the 4IR to ensure that no one is left behind in the new economy,” said Kelly Bird, Country Director of ADB Philippines in the statement.
The study said the Philippines should develop vocational and technical education and training programs dedicated to 4IRs, and flexible and modular skills certification programs that recognize skill achievement outside of traditional educational channels.
There is also a need to accelerate the rate at which the country’s education system can incorporate changes in the curriculum to meet the needs of the industry.
For the electronics manufacturing industry, the ADB cited the need to support the transfer of 4IR knowledge from large multinational companies to micro, small and medium-sized companies; address the potentially disproportionate impact of technological disruption on women; and develop a standardized set of 4IR skill requirements and training quality standards.
According to the study, 15 percent of training institutions reported using virtual platforms for training and 26 percent reported using augmented reality and virtual reality tools, compared to 10 percent in Cambodia, 15 percent. percent in Indonesia and 18 percent in Vietnam.
A mismatch was also found in perceptions between training institutions and employers regarding the preparation of graduates for work.
While the majority of surveyed training institutions reported that graduates were adequately prepared for entry-level positions, only 58 percent of IT-BPO and 56 percent of electronics industry employers agreed.
“As 4IR technologies spread rapidly, extensive investments in digital skills will improve the chances of young and old to access higher quality jobs and reduce the risk of job losses,” said the senior education specialist at the ADB, Shanti Jagannathan.
“Now is the time to rethink skills delivery using virtual platforms and mobile technologies, and to develop agile training institutions with courses and credentials that match market needs,” he added.
Companies deploying 4IR technologies are likely to recover faster from outages caused by the pandemic and become more resilient in the future, according to the study.
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