By 2025, Robots Will Handle More Workplace Tasks Than Humans

Economy       Want to survive the robot revolution? You need to start from square one
       
       	        Priyamvada Grover         17 September 2018

More machines completing more so-called work tasks means humans can do even more, and that more jobs will be created, according to a new future of jobs study from the World Economic Forum.

Globally, nearly half of all companies expect automation to cut their full-time workforce in the next four years; however, new jobs will still lead to a net gain in employment opportunities if sufficient reskilling is done. 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. By 2022, this average is expected to shift to 58 per cent task hours performed by humans, 42 per cent by machines. "At the same time a greater number of new jobs will be created", said Saadia Zahidi, a WEF board member. "This migration does not represent a great rupture in the jobs market, but a continuation of what has always happened with new technologies that automate tasks, going back to the first industrial revolution; the lowest skills are replaced by higher skills".

"A lot of these new jobs will be centred around understanding and managing the technology, as the limitations of machine learning means it needs human wisdom to guide it".

"People, whether they're workers or consumers, will only accept and tolerate the consequences if technology serves them - and not they it", Reiner Hoffmann told daily Welt in reaction to the WEF report.

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However, many roles will become "increasingly redundant" including repetitive and manual roles in administrative, factory and financial work, the WEF says.

In its latest analysis, the WEF said the effects of automation may vary substantially across industries, and predicted job losses to be heaviest in mining, consumer and IT companies, and less within professional services firms.

"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".

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