According to the World Economic Forum (WEF), the number of jobs that would be at risk of being eliminated because of the advancement of use of machines, robots and algorithms at the workplace would be half of the number of new jobs that such technology would create by the middle of the next decade.
Over the next decade, while rapid technological advances in the workplace will put at risk about 75 million jobs that could be displaced, about 133 million jobs globally could be created, said the WEF,
This prediction by the global agency will help in allying fears of job losses that have are often expressed by a section of people because of the rise of robots and machine learning.
In a phenomenon that was witnessed during the previous periods of economic development such as the Industrial Revolution, ways of working can be disrupted as well as new ways of working can be created by new technology according to the report of the WEF. During the Industrial Revolution, technologies such as steam power and later on electricity aided in the creation of new job profiles and created the middle class.
But the risks posed by automation are also mentioned in the report that was based on a survey of company executives who represented about 15 million workers in 20 different countries.
One cannot assume that technology advancement and adoption would automatically create jobs, said Klaus Schwab, chairman of the WEF, but there would be requirement for making investments in development of new skills among workers through training and education. The report identified the existence of serious challenges for reskilling of workers and at-risk workers need a safety net for protection.
“[This] is a call to action to governments, businesses, educators and individuals alike to take advantage of a rapidly closing window to create a new future of good work for all,” he wrote in the report.
The report highlighted possible stringent results because of inaction. According to the opinion of the company honchos surveyed, over per cent of all of the work that is done currently in their offices can be easily replaced by machines by the year 2025. And among the most at risk would be those who are engaged in white collar job profiles such as those in accounting, data entry and payroll services.
Among the businesses in the UK that were surveyed more than 80 per cent opined that in the next five years or so, they would likely move on to automation. Half of these businesses opined that this move would result in job losses for those who are not able to upgrade their skills to adapt to the use of the new technologies.
(Adapted from TheGuardian.com)
Over the next decade, while rapid technological advances in the workplace will put at risk about 75 million jobs that could be displaced, about 133 million jobs globally could be created, said the WEF,
This prediction by the global agency will help in allying fears of job losses that have are often expressed by a section of people because of the rise of robots and machine learning.
In a phenomenon that was witnessed during the previous periods of economic development such as the Industrial Revolution, ways of working can be disrupted as well as new ways of working can be created by new technology according to the report of the WEF. During the Industrial Revolution, technologies such as steam power and later on electricity aided in the creation of new job profiles and created the middle class.
But the risks posed by automation are also mentioned in the report that was based on a survey of company executives who represented about 15 million workers in 20 different countries.
One cannot assume that technology advancement and adoption would automatically create jobs, said Klaus Schwab, chairman of the WEF, but there would be requirement for making investments in development of new skills among workers through training and education. The report identified the existence of serious challenges for reskilling of workers and at-risk workers need a safety net for protection.
“[This] is a call to action to governments, businesses, educators and individuals alike to take advantage of a rapidly closing window to create a new future of good work for all,” he wrote in the report.
The report highlighted possible stringent results because of inaction. According to the opinion of the company honchos surveyed, over per cent of all of the work that is done currently in their offices can be easily replaced by machines by the year 2025. And among the most at risk would be those who are engaged in white collar job profiles such as those in accounting, data entry and payroll services.
Among the businesses in the UK that were surveyed more than 80 per cent opined that in the next five years or so, they would likely move on to automation. Half of these businesses opined that this move would result in job losses for those who are not able to upgrade their skills to adapt to the use of the new technologies.
(Adapted from TheGuardian.com)
