FUTURE OF JOBS

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.