It's no secret that the world of work is set to change irreversibly as more industries start to implement automation and artificial intelligence. A new study published by the World Economic Forum finds that women are set to be hit the hardest. In the United States, 1.4 million jobs will be vulnerable to disruption by 2026 due to technology and other factors. The report analyzed some 1,000 types of jobs throughout the country, covering 96 percent of total employment. It showed that 57 percent of those whose jobs are at risk are women.
Significant technological advances have reshaped society as we know it. But the World Economic Forum (WEF) warned that while this is pushing us into "the fourth industrial revolution" and is transforming the labour markets beyond all recognition from decades ago, it will lead to a net loss of over 5 million jobs in 15 major developed and emerging economies by 2020. These countries include Australia, China, France, Germany, India, Italy, Japan, the UK, and the US. WEF said in its report, entitled "The Future of Jobs," which was published on Monday, that while skills and jobs displacement will affect every industry and geographical region, these job losses can be offset by employment growth in other areas. WEF estimated that 7.1 million jobs could be lost through redundancy, automation, or disintermediation, while the creation of 2.1 million new jobs, mainly in more specialised areas such as computing, math, architecture, and engineering, could partially offset some of the losses.
Do you want the good news, or the bad news? Let's start with the bad. The World Economic Forum's (WEF) Future of Jobs study predicts that 5 million jobs will be lost before 2020 as artificial intelligence, robotics, nanotechnology and other socio-economic factors replace the need for human workers. The report says this very same technology will create 2.1 million jobs. But very different jobs from the 5 million to be lost.
A new report by the World Economic Forum predicts 75 million jobs will go to robots by 2025. Buzz60's Tony Spitz has the details. A link has been sent to your friend's email address. A link has been posted to your Facebook feed. A new report by the World Economic Forum predicts 75 million jobs will go to robots by 2025.