Saturday, 20 October, 2018

Robots 'will create more jobs than they displace'

Robots will soon dominate workplaces says WEF in new report Robots will soon dominate workplaces says WEF in new report
Lori Graves | 22 September, 2018, 13:14

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. However, in terms of overall numbers of new jobs, the outlook is positive.

As a prominent the Switzerland-based WEF has shed some statistical light on the situation, predicting that, while robots will displace in the region of 75 million jobs by 2022, they'll create 133 million new ones. A major challenge, however, will be training and re-training employees for that new world of work. "Without proactive approaches, businesses and workers may lose out on the economic potential of the Fourth Industrial Revolution".

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.

"If this is to be the case, we hope that companies are putting plans into place sooner rather than later for their human members of staff, ensuring they're not going to be without work and money, before implementing these technical replacements". According to the WEF report, almost 50% of all firms expect their full-time workforce to shrink over the next few years.

Germany's powerful DGB trade union association warned against too rapid change in the world of work.

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"They entail hard transitions for millions of workers and the need for proactive investment in developing a new surge of agile learners and skilled talent globally".

According to the report titled "Future Of Jobs", robot adoption rates diverge significantly across sectors, with 37 percent to 23 percent of companies planning this investment, depending on the industry. Drastic job losses due to the growth of automation in the region - a hub for many manufacturing sectors from garments to vehicles - could produce a spike in labour abuses and slavery in global supply chains, said risk consultancy Verisk Maplecroft.

ROBO Global CIO Bill Studebaker on an MIT study suggesting robots will create more jobs than they destroy.

"A lot of these new jobs will be centred around understanding and managing the technology, as the limitations of machine learning means it needs human wisdom to guide it".

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