Study predicts job loss in some industries, but EDB suggests otherwise for some sectors Some iron rice bowls might crack in the future, because robots and artificial intelligence (AI) are starting to replace human labour in certain industries. On 18 Jan, an international study conducted in Davos Switzerland, forecasted the employment growth and losses according to industries with respect to technological advances. The study surveyed industrial executives in 15 economies, which make up 65% of the global workforce. The study, published by the World Economic Foundation, projected 5.1 million nett job losses , with 7.1 million actual loses which are offset by a 2 million job gain in other sectors. According to the executive summary of the study, “given the rapid pace of change, business model disruptions are resulting in a near-simultaneous impact on skill sets for both current and emerging jobs across industries”. To be specific, robots and machine learning will replace specific tasks done by workers, “freeing workers up to focus on new tasks and leading to rapidly changing core skill sets in these occupations”. Here’s the expected numbers for the employment market in the next 5 years: Source But before we begin to worry our heads off, the study also shows […]
8 years ago
