Effect of the 4th Industrial Revolution on Employability – Case of Albania

Abstract

The labor markets are undergoing significant changes as a result of the fourth industrial revolution’s implementation in every sphere of the economy. One easy image may come to mind when you hear the term “dig­ital economy”: a robot employee, designed to perform specified tasks auto­matically. In any case, digitalizing employability entails more than just ap­plying AI codes; it also entails raising performance standards, emphasizing soft skills among workers, eliminating low – and middle-level roles, and in­creasing demand for highly qualified workers. Albania has made significant strides toward economic digitalization. Nu­merous businesses, especially large ones, are spending money to advance the technologies they work with. Technological developments at the macro­economic and sectoral levels are fundamentally changing the work market and employability in our country, having a significant impact on both em­ployers and employability.