Half of employee work tasks are expected to be automated by 2025.
A new study published by the World Economic Forum (WEF) has revealed that employers aim to have an “equal divide” between work tasks carried out by humans and machines, with 43% of businesses surveyed indicating that they are set to reduce their workforce due to technology integration.
WEF estimates that by 2025, 85 million jobs may be “displaced” by a shift in the division of labour between humans and machines, while 97 million new roles may emerge that are more adapted to the new division of labour between humans, machines and algorithms.
It follows news made public by the Confederation of British Industry (CBI) last week that “nine in ten employees will need to reskill by 2030”, as a result of automation.
At the time the confederation said that upskilling may cost the UK government £13bn to ensure the “futureproof livelihoods and power UK competitiveness”,with Dame Carolyn Fairbairn, CBI director-general, stating “ensuring people can adapt to the changing world of work will be one of the most important missions this country embarks on in the next decade.”
The WEF said: “Automation, in tandem with the COVID-19 recession, is creating a ‘double-disruption’ scenario for workers.
“The window of opportunity to reskill and upskill workers has become shorter in the newly constrained labour market.”