Daily Management Review

Experts: New technologies will displace 85 million jobs by 2025


In five years' time, the work between man and technology will be equally divided, says the World Economic Forum report. 43% of employers are for job cuts due to automation.

Automation can reduce 85 million jobs in 15 sectors of the economy by 2025 as a result of technological advances. This follows from the World Economic Forum (WEF) report published on 20 October. However, experts believe that the 'robot revolution' will create 97 million new jobs. In general, in the future, unlike in previous years, the emergence of new jobs will be slower than the disappearance of existing jobs, the document says.       

According to WEF experts, by 2025, work will be distributed equally between people and machines. At the same time, automation will affect such activities as data entry and processing, accounting and a number of administrative tasks. 

According to a survey conducted by WEF experts, 43% of business representatives said that they intend to reduce their jobs due to the introduction of new technologies. 41 per cent of employers plan to expand the network of contractors to perform certain types of work, while 34 per cent plan to attract new labour force to integrate new technologies.

"The acceleration of automation and the impact of the coronavirus pandemic recession has exacerbated the existing imbalance in the labour markets and reversed the decline in unemployment achieved after the 2007-2008 global economic crisis," said WEF Managing Director Saadia Zahidi.

source: wef.org