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Technology will lead millions to unemployment (will new jobs be created?)

A new report by World Economic Forum (WEF) showed that over the next five years, 85 million jobs could be lost, as they will be replaced by technology. However, the same report says there could be a balance, as it is likely to create 97 million new roles. To do this, of course, businesses and Governments need to make extra efforts to upgrade and train their workforce.

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Technology will lead millions to unemployment (will new jobs be created?)

Technology has greatly facilitated and automated it work of the people. For years, experts have been talking about the "Fourth Industrial Revolution." However, in 2020, due to the pandemic COVID-19, there have been changes that have significantly affected the work, earlier than expected.

The pandemic COVID-19 has accelerated him digital transformation of most companies and has brought to the fore remote work and new technology. The WEF studied 300 of the largest Companies of the world, which employ at least eight million people, and found that 80% of decision makers plan to speed up the automation of their work processes.

According to the report, companies in the field of finance, healthcare and transport show new interest in artificial intelligence, while the public sector wants to increase the use of big data, IoT and robotics.

However, due to the current health crisis, many jobs have been disrupted and work automation has been strengthened. Result; Unemployment rates are rising in most countries and people are in a very difficult position.

Technology will lead millions to unemployment (will new jobs be created?)

Recent estimates from International Monetary Fund (IMF) show that nearly $ 11 trillion has been allocated worldwide to help households and businesses to withstand the crisis. The WEF, however, argues that Long-term planning is essential for the unemployed to recover. The skills needed to be able to work again change very quickly as companies begin to adopt new technologies.

CIOs now use AI systems and machines to perform tasks previously performed by humans. For example, The WEF predicts that by 2025, machines will perform up to 65% of the processing and retrieval of information and data, leaving only 35% of the process to humans.

This means that many jobs will be lost in the coming years. According to the WEF, processing workers data, accountants and factory workers are among the occupations most affected by technology.

At the same time, the increase of the so-calledtomorrow's jobsWill compensate for the lack of demand in positions that can be filled by machinery. According to estimates, demand for jobs related to green economy, data, AI and cloud computing will increase (analysts data, machine learning specialists, robotics engineers, programmers, etc.).

The process of moving to new jobs is not easy. Employees will need to develop new skills.

Technology will lead millions to unemployment (will new jobs be created?)

Employees and employers have already begun to address this issue. Many people have started (on their own initiative) to watch online courses, while three-quarters of companies said they were looking ways to provide opportunities to redefine and upgrade their staff.

Despite the optimism for the emergence of new jobs, the WEF stressed that a lot of work needs to be done in the new context of the global recession to avoid the great loss of old jobs. "This year we see that while the creation of new technology-related jobs is expected to offset the loss of current jobs over the next five years, the economic contraction is slowing down the growth of tomorrow's jobs.". There is a new need to take precautionary measures to facilitate the transition of employees to more sustainable jobs", The report states.

Without precautionary measures by the private and public sectors, there will be a big problem.

Source: ZDNet

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