Robots to take jobs in 4th Industrial Revolution (FREE REPORT)

5.1 million jobs to be lost over next five years as robots take over work in offices, factories & hospitals says new free report from World Economic Forum (WEF).

TECHNOLOGY

Millions of jobs will go worldwide as robots rise

Women likely to be the biggest losers
19/01/2016
REUTERS

DAVOS - Disruptive labour market changes, including the rise of robots and artificial intelligence (AI), will result in a net loss of 5.1 million jobs over the next five years in 15 leading countries, according to an analysis published in Davos Monday (get Future of Jobs report for free here).

The projection by the World Economic Forum (WEF), which is holding its annual meeting in the Swiss ski resort of Davos this week...

FOURTH INDUSTRIAL REVOLUTION

The WEF has made "The Fourth Industrial Revolution" - a topic covering robotics, nanotechnology, 3D printing and biotechnology - the official theme of this year's Davos meeting, which runs from Jan 20 to 23.

The Future of Jobs report concluded that jobs would be displaced in every industry, although the impact would vary considerably, with the biggest negative losses likely to be in healthcare, reflecting the rise of telemedicine (the use of computers and the internet to provide health services from a distance, to people who live in remote rural areas, for example), followed by energy and financial services.

At the same time, however, there will be a growing demand for certain skilled workers, including data analysts and specialist sales representatives (sales reps).

Women will be the biggest losers as many of their jobs are often concentrated in low growth or declining areas of work such as sales, office and administrative roles, according to the report.

HUMAN TASKS AUTOMATED

The assessment highlights the challenges posed by modern technologies that are automating and making redundant multiple human tasks, from manufacturing to healthcare.

With the International Labour Organisation (ILO), part of the United Nations (UN), already forecasting an increase in global unemployment of 11 million by 2020, the size of the additional job losses is sobering.

OFFICE & ADMINISTRATIVE WORK FIRST TO GO

Two-thirds of the projected losses are expected to fall in the office and administrative sectors as smart machines take over more routine tasks...

YOUNG PEOPLE NOT SATISFIED WITH EDUCATION

Meanwhile, four out of 10 young people believe machines will be able to do their jobs within a decade.

Nearly half of young workers surveyed in Western countries said their education did not prepare them to do their jobs.

The skills gap is especially pronounced in Europe...

Almost 80% globally said they had to learn new skills not taught them in school and that rapid technology - the threat of being overtaken by robots or smart systems - required constant learning of fresh skills to compensate...

...technologies "have evolved far faster than what was thought possible even 10 years ago...

DEVELOPING MARKETS MORE OPTIMISTIC THAN DEVELOPED

Globally, while almost two-thirds of those queried said they felt positive about their job prospects, those in developing country markets Brazil, China, India and South Africa were far more optimistic than their peers in developed country markets. 

While in India, 60% said they think they have the skills needed for their careers, just a quarter were similarly optimistic in France, the survey found...

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