According to a ‘Future of Jobs’ report released by the World Economic Forum (WEF), by 2025, machines are projected to overtake humans in workplace task hours in 12 key industry sectors.
Key summary of report:
Technological changes such as high-speed mobile Internet and cloud technology, artificial intelligence, robots and automation will bring a significant shift to existing work tasks.
In 2018, humans performed an average of 71% of total task hours across the 12 industries spanning manufacturing, services and high tech. By 2025, that will drop to just 48%, Machines will perform the remaining 52%.
Globally, almost half of all companies expect automation to cut their full-time workforce in the next four years.
However, if sufficient reskilling is done, new jobs will still lead to a net gain in employment opportunities. In India, 54% of employees in these sectors will need reskilling by 2022. Thus, reskilling and upskilling of employees as an urgent imperative.
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