Wednesday, October 21, 2020

Half of the Labor Force Will Be Replaced By Robots By 2025

 Half of all work tasks will be handled by machines by 2025, according to forecasts in a report released by the World Economic Forum (WEF).

WEF informed that one-third of the world's work is now machine-operated while humans do the rest but by 2025, that number will change.

The organization says the robot revolution will create 97 million jobs worldwide but will also 'eliminate' manpower in large numbers and will put some communities at risk.

Add WEF, routine work or manuals in the field of administration as well as data processing are most at risk of being threatened by automation technology.

The latest report involves a survey of the world's 300 largest companies, some of which have 8 million employees worldwide.

More than 50% of employers surveyed said they hoped to accelerate automation for some roles in the company while another 43% tended to lay off employees due to technology.

According to the WEF, the pandemic effect has accelerated the process of adopting new technologies as firms try to reduce costs and adopt new working methods.

WEF Managing Director Saadia Zahidi signaled that these issues added to the issues of inequality that existed in the labor market and had affected the performance of the employment sector since the 2007-2008 global financial crisis.

"The issue also triggers another scenario of harassment that exists for workers in difficult situations now," he said.

The role of work that requires human skills such as giving advice, making decisions, finding reasons, communicating and interacting will be in high demand.

But the WEF says millions of routine or manual jobs will be replaced with technology, thus affecting less skilled workers and receiving lower wages.