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85 mn human jobs likely to be displaced by machines by 2025: WEF Report
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IANS | 21 Oct, 2020
Displacement of around 87 million jobs is expected in the coming years
due to shift from human labour to machines, a report by World Economic
Forum (WEF) has said.
The 'Future of Jobs Report 2020', however,
noted that 97 million new roles may emerge that are more adapted to the
new division of labour between humans, machines, and algorithms.
"Although
the number of jobs destroyed will be surpassed by the number of 'jobs
of tomorrow' created, in contrast to previous years, job creation is
slowing while job destruction accelerates," it said.
Employers
expect that by 2025, increasingly redundant roles will decline from 15.4
per cent of the workforce to 9 per cent, and that emerging professions
will grow from 7.8 per cent to 13.5 per cent of the total employee base
of company respondents, the report said.
"Based on these
figures, we estimate that by 2025, 85 million jobs may be displaced by a
shift in the division of labour between humans and machines, while 97
million new roles may emerge that are more adapted to the new division
of labour between humans, machines, and algorithms," it added.
It
observed that automation, in tandem with the COVID-19 recession, is
creating a 'double-disruption' scenario for workers. In addition to the
current disruption from the pandemic-induced lockdowns and economic
contraction, technological adoption by companies will transform tasks,
jobs and skills by 2025.
Around 43 per cent per cent of
businesses surveyed indicate that they are set to reduce their workforce
due to technology integration, 41 per cent plan to expand their use of
contractors for task-specialised work, and 34 per cent plan to expand
their workforce due to technology integration.
"By 2025, the time
spent on current tasks at work by humans and machines will be equal. A
significant share of companies also expect to make changes to locations,
their value chains, and the size of their workforce due to factors
beyond technology in the next five years," it said.
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