Robots will take 75 million jobs by 2022 says WEF

Robots will take 75 million jobs by 2022 says WEF

Robots will take 75 million jobs by 2022 says WEF

Machines now perform 29% of workplace tasks and this is expected to increase to 42% by 2022, meaning an average reduction in task hours of 13% from 71% to 58% for humans.

The report forecasts that, by 2020, machines will perform 42% of all current tasks in the workplace.

Some companies could choose to use temporary workers, freelancers and specialist contractors, while others may automate numerous tasks.

So it'll be farewell to jobs such as office administrator and driver, and hello to new roles such as drone piloting and remote patient health monitoring.

Within four years, machines will displace 75 million jobs globally while creating 133 million new ones, the think tank claims. "Our research suggests that neither businesses nor governments have fully grasped the size of this key challenge of the Fourth Industrial Revolution". Respondents represented more than 15 million employees from 20 developed and emerging economies that collectively represent some 70 percent of the global economy.

Meanwhile, employees should expect "significant shifts" in the quality, location, and format of new roles, meaning that the typical full time, permanent employee will be less dominant. The report said almost half of all companies expect their full-time workforces to shrink by 2022, while almost two in five expect to extend their workforce generally, and over one-quarter expect automation to create new roles in their enterprises.

Technology is disrupting everything, including the way we work.

Germany's powerful DGB trade union association warned against too rapid change in the world of work. Therefore, in the future people will have to retrain and learn new skills.

The latest report echoes another analysis from global consulting firm PwC, which predicted that AI, robotics and other "smart automation" technology will create new jobs and result in a long-term net positive for the economy.

Within seven years more than half of the jobs will be taken by robots.

Mr Haldane said companies would have to expand in innovative ways to create new human jobs, but whether they will manage to is an "open question".

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