By 2025, Robots Will Handle More Workplace Tasks Than Humans
22 September, 2018, 13:11 | Author: Lydia Fleming
Respondents predicted a decline of 984,000 jobs and a gain of 1.74 million jobs between now and 2022. Upon conducting the survey which accounted for roughly 70% of the global economy, the WEF estimates that development in automation technologies and AI could displace 75 million jobs by 2022, yet create another 133 million new roles as companies rework the division of labor between humans and machines.
New skill sets for employees will be needed as labour between machines and humans continue to evolve, the report pointed out.
"By 2025, the majority of workplace tasks in existence today will be performed by machines or algorithms". Separately, the rise of robots in manufacturing in Southeast Asia is likely to fuel modern slavery as workers who end up unemployed due to automation face abuses competing for a shrinking pool of low-paid jobs in a "race to the bottom", analysts said recently. By 2022 this average is expected to have shifted to 58 percent task hours performed by humans and 42 percent by machines.
Recent reports have highlighted the impact AI could have on jobs, suggesting millions are at risk.
"The scale of job loss [in the fourth industrial revolution] is likely to be at least as large as that of the first three industrial revolutions", he said. So that doesn't mean companies expect to have fewer jobs. "At the same time a greater number of new jobs will be created", said Saadia Zahidi, a WEF board member. Whilst the future of work will see more organisations adopt technologies such as these, their fundamental role will be to remove repetitive tasks and admin work, making way for employees to focus on more meaningful and creative work.
"By taking a more holistic approach to the future of work, a man-machine partnership will open up a new realm of possibilities for organisations". Businesses are to expand use of contractors for task-specialized work, engage workers in more flexible arrangements, utilize remote staffing, and change up locations to get access to the right talent. It warned there's a significant gap between the skills workers now have and those that may be required for future new roles.
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