Battered by the tide of disruption

Waves of disruptive technologies have fostered creativity, innovation and ease of communication, but they are also a catalyst of potentially massive job losses, with machines set to take over jobs once done by humans. SCB workers walk past the front of the bank's head office on Ratchadaphisek Road. While forecasts of future job losses from artificial intelligence (AI) and automation have mushroomed, tangible damage has already been done to certain industries. In a massive restructuring, US auto giant General Motors has announced it will cut 15% of its 180,000-strong workforce to save US$6 billion and adapt to "changing market conditions". Similarly, Swedish build-it-yourself furniture chain Ikea plans to cut 7,500 positions over the next two years, representing about 5% of the company's global workforce.