As many focus on the future of work, various different perspectives are presented. A common theme is emerging: Jobs will be there, but they will be very different within the next decade. This recent Article draws three conclusions:
- In 10 years time, 50% of jobs will be changed by automation – but only 5% eliminated.
- 9 out of 10 jobs will require digital skills.
- Young, low-skilled and vulnerable people – all need help with up-skilling.
Several critical points are made by the World Economic Forum article:
Over the next 10 years, 1.2 billion employees worldwide will be affected by the adaptation of automation technologies and AI. This is equal to 50% of the world economy and will disrupt US$14.6 trillion in wages.
The future of work will see a shift in demand away from office support positions, machine operators, and other low-skill professions – and towards technology professionals such as computer engineers and information communication technology (ICT) specialists.
Despite concerns about automation, business leaders are not adequately preparing their employees with those necessary skills. While 45% of business leaders communicate about automation initiatives, demonstrating their awareness of the situation, only 15% communicate about up-skilling initiatives.
The lack of up-skilling opportunities disproportionately affects populations who are already vulnerable today, who fill many of the low-skill jobs that will soon be fully automated. Without addressing this need, we are headed towards a future of increasing inequality.
To address the growing role of automation and AI in work, action must be taken. There is a need to grow and support existing up-skilling initiatives for vulnerable populations, and there is an equal need for increased involvement from business leaders and the private sector.
A separate Article from the World Economic Forum had this to say:
By 2022 alone, 75 million jobs will probably be displaced across 20 major economies, while 133 million new ones will spring up in industries that are only just gaining traction. At the same time, it’s estimated that nearly two-thirds of children who started school in 2016 will go on to have jobs that don’t yet exist.
The jobs picture is getting a little clearer – but a significant challenge remains. Core skill sets are changing, pushing the need for immediate action. The article above suggests several critical actions:
- Embrace life-long learning
- Foster inclusivity
- Start early
- Join forces with multiple stakeholders
I’ve explored the topic of Education in multiple posts throughout the years. A topic we must all pay attention to.