Robots ‘Will Create More Jobs Than They Displace’

22 September, 2018, 13:11 | Author: Julian Harrison
  • Contrary to a previous report the WEF says 58 million jobs will be created by changing technology. Getty Images

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.

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.

Almost 50 percent of companies expect that automation will lead to some reduction in their full-time workforce by 2022, based on the job profiles of their employee base today.

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

Millions of jobs are likely to be displaced by automation but we have less to fear from robots than some might think, a report from the World Economic Forum has suggested.




CNBC reported a statement from a Swiss non-profit organization that said human work is expected to account for an average of 58 percent of total work hours by 2022, down from the current total work hours of 71 percent.

According to the report, "if the welfare changes (if they are wisely managed) can lead to good employment, good jobs and improved quality of life, but if changes are poorly managed, then there is a risk that the" gap "of skills, greater inequality and wider polarization". The real impact of AI on the employment market over the next few years will be to shift people from one role to another, and to create new roles.

The first industries that will be retraining workers, aviation and tourism. However, in terms of overall numbers of new jobs, the outlook is positive.

"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.

Less than a third of companies expect the introduction of robots and AI to grow their workforce. A major challenge, however, will be training and re-training employees for that new world of work. The end result will give employees more time to do what makes them uniquely human - complex problem solving, critical thinking, and creativity'. 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.

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