Artificial Intelligence will create 58 million new jobs: forum

A new report from the World Economic Forum says half of all workplace tasks will be automated by 2025

The World Economic Forum estimates that machines will be responsible for 52 percent of the division of labor as share of hours within seven years, up from just 29 percent today.

According to the World Economic Forum (WEF), about 133m jobs globally could be created with the help of rapid technological advances in the workplace over the next decade, compared with 75m that could be displaced.

'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'.

The WEF predicts that the rise of robotics will result in machines performing more tasks on the job than humans by 2025. "Our research suggests that neither businesses nor governments have fully grasped the size of this key challenge of the Fourth Industrial Revolution".

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Robots will handle 52 per cent of current work tasks by 2025, nearly twice as many as now, a World Economic Forum (WEF) study said Monday.

Based near Geneva, the WEF surveyed executives representing 15 million employees in 20 economies. In India, 54% of employees in these sectors will need reskilling by 2022, the WEF said in the report released on Monday. A Bank of England study in 2015 produced some of the bleakest figures, forecasting that as many as 80 million jobs in the United States and 15 million in the United Kingdom could be lost by 2035.

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.

Many new jobs may be less secure than in the past, as businesses are increasingly turning to contractors and freelancers, the Swiss foundation said. Previous studies, including an earlier one by the WEF, have generally forecast automation will destroy more jobs than it creates. The risk of slavery tainting supply chains will spiral as workers who lose their jobs due to increased robot manufacturing will be more vulnerable to workplace abuses as they jostle for fewer jobs at lower wages, said Alexandra Channer of Maplecroft.

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