Monday, 22 October, 2018

Machines will do more tasks than humans by 2025: WEF

Robots 'will create more jobs than they displace' 18/09/2018 15:59 Robots 'will create more jobs than they displace'
Sherri Watson | 20 September, 2018, 17:35

And the march to robots increasing their hold on human activities is continuing in the real world-a World Economic Forum report has said by 2025, machines will handle 52 per cent of current work tasks, displacing nearly 75 million people from the workplace.

Despite fears that advancing technology will have a negative impact on employment in the next decade, it is predicted 133 million new roles will be made, compared to 75 million jobs that will disappear. So that doesn't mean companies expect to have fewer jobs.

The reports also suggested that companies, governments, and employees need to cooperate to tackle human skill shortages and separate tasks done by humans and machines.

At present, the tasks that the machine can accomplish accounts for 29% of the current work, but by 2022, it is expected that the machine can accomplish as much as 42% of the tasks. Its authors say the outlook for job creation has become more positive since the last report in 2016 because businesses have a better sense of the opportunities made possible by technology.

The report states that while 75mn jobs could be displaced by 2022, 133mn new roles are set to emerge. For example, automating a business process like parsing a legal contract requires somebody to set up and coach the technology until it can do its tasks on its own. Whilst the future of work will see more organisations adopt technologies such as these, their fundamental role will be to remove repetitive tasks and admin work, making way for employees to focus on more meaningful and creative work.

The research was published today in "The Future of Jobs 2018'". The end result will give employees more time to do what makes them uniquely human - complex problem solving, critical thinking, and creativity'. "Without proactive approaches, businesses and workers may lose out on the economic potential of the Fourth Industrial Revolution", said Saadia Zahidi, head of the Centre for New Economy and Society at the WEF.