Could a robot do your job? Millions of people who didn’t see automation coming will soon find out the painful way. The answer is a resounding yes.
The World Economic Forum’s Future of Jobs study predicts that 5 million jobs will be lost before 2020 as artificial intelligence, robotics, nanotechnology and other socio-economic factors replace the need for human workers.
The good news is that those same technological advances will also create 2.1 million new jobs. But the manual and clerical workers who find themselves out of work are unlikely to have the required skills to compete for the new roles.
Most new jobs will be in more specialized areas such as computing, mathematics, architecture and engineering.
Governments and employers in every sector are being urged to retrain and re-skill workers to avoid a crisis.
“Without urgent and targeted action today, to manage the near-term transition and build a workforce with future-proof skills, governments will have to cope with ever-growing unemployment and inequality, and businesses with a shrinking consumer base,” said Klaus Schwab, Founder and Executive Chairman of the World Economic Forum.
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