Robots will create millions more jobs than they displace, claims WEF

Robots will create millions more jobs than they displace, claims WEF

Robots will create millions more jobs than they displace, claims WEF

The World Economic Forum has issued a report stating that over the next decade AI could create nearly double the number of jobs that it will destroy.

Data provided to the think tank by executives from more than than 300 global companies suggest that machines will carry out an average of 42% of tasks by 2022, compared with 29% today.

New skill sets for employees will be needed as labour between machines and humans continue to evolve, the report pointed out.

Machines will do more tasks than humans by 2025: World Economic Forum

The report, released on September 17, forecasts that by 2025, half of all "work tasks" will be done by machines.

In a study of executives and specialists across 12 industries, published on September 17, the WEF concluded that this so-called "Fourth Industrial Revolution" could create 133 million jobs globally, while 75 million workers may be displaced.

Despite net positive job growth, the WEF anticipates a "significant shift in the quality, location, format and permanency of new roles".

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Jobs that require "human skills" such as sales, marketing and customer service should see demand increase meanwhile, along with e-commerce and social media.

The report calls on businesses and government leaders around the world to create a support system for their employees and ensure a smooth transition as the workforce evolves. "This is the key challenge of our time", said Klaus Schwab, founder and executive chairman of the WEF.

However, many roles will become "increasingly redundant" including repetitive and manual roles in administrative, factory and financial work, the WEF says. Machines will perform the remaining 52%. There is both a moral and economic imperative to do so. It said these companies represented more than 15 million employees and their economies represented 70% of global GDP.

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Simon Aldous, Head of EMEA Channels, UK Office Lead, Dropbox has shared his thoughts on why, a man-machine partnership is important for the future of work: "Emerging technologies such as AI, robots and algorithms are set to completely transform the workplace, helping to boost the number of jobs in the next decade".

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