AI Will Create 58 Million New Jobs By 2022

As technological breakthroughs rapidly shift the frontier between the work tasks performed by humans and those performed by machines and algorithms, global labour markets are likely to undergo major transformations.

Machines and algorithms in the workplace are expected to create 133 million new roles, but cause 75 million jobs to be displaced by 2022 according to a new report from the World Economic Forum (WEF) called The Future of Jobs 2018This means that the growth of artificial intelligence could create 58 million net new jobs in the next few years.

With this net positive job growth, there is expected to be a major shift in quality, location and permanency for the new roles. And companies are expected to expand the use of contractors doing specialised work and utilize remote staffing.
In 2025, machines are expected to perform more current work tasks than humans compared to 71% being performed by humans as of now. Due to this transformation, it will have a major impact on the global workforce.

This report is intended to provide guidance on how to improve the quality of the work being done by humans and how people should become prepared for emerging roles. And it is based on a survey of chief human resources officers and strategy executives from more than 300 global companies across 12 industries and 20 emerging economies. Plus, the report has determined that 54% of employees of large companies would need to up-skill in order to fully harness these growth opportunities. Over half of the companies surveyed said that they plan to train only employees in key roles and only one-third are planning to train at-risk workers.

Nearly 50% of all companies are expecting their full-time workforce to shrink by 2022 due to automation, but 40% are expecting to extend their workforce and more than 25% are expecting automation to create new roles in the enterprise.
"It is critical that business take an active role in supporting their existing workforces through reskilling and upskilling, that individuals take a proactive approach to their own lifelong learning, and that governments create an enabling environment to facilitate this workforce transformation. This is the key challenge of our time," said World Economic Forum founder and executive chairman Klaus Schwab.

Some of the fastest growing job opportunities across all industries include data analysts, software developers and social media specialists. Plus, jobs that require “human skills” like sales and marketing, innovation and customer service are also expected to increase in demand. Some of the jobs that are expected to go away include data entry, payroll and certain accounting functions. The WEF is working across multiple industries to design roadmaps to respond to these new opportunities.

The respondents provided three strategies to cope with these challenges. This includes hiring wholly new permanent staff with skills around new technologies, completely automating certain work tasks and retraining existing employees. And a smaller number of companies are expecting to allocate the work to freelancers and temporary workers.

Workforce expansion will vary across industries says the WEF report. Companies that are projecting a higher amount of job losses tend to be in the mining, consumer and IT industries than companies in professional services. 

Between 2018 and 2022, the aviation and tourism industries are expected to see the highest amount of retraining. Physical tasks are also expected to be significantly replaced by mechanised labor so that humans can focus on more productive tasks.
And the report also pointed out that the demand of roles across certain regions also varies. There is expecting to be a growing demand of financial and investment advisors in East Asia and the Pacific and Western Europe, assembly and factory workers in Latin America and the Caribbean, Middle East and North Africa, South Asia and Sub-Saharan Africa and electrical engineers in North America.

This WEF report seems to reaffirm a previous study from PwC where it was determined that AI, robotics and smart automation technology will bring greater economic benefits. And this could contribute up to $15 trillion to global GDP by 2030.

Forbes

You MIght Also Read: 

Robots Will Invade The Workplace:

Toyota Is Making Humanoid Workers:

 

 

« Smartphones Are Working For Dutch Police
Canada Is Suspicions Of Huawei »

ManageEngine
CyberSecurity Jobsite
Check Point

Directory of Suppliers

Resecurity

Resecurity

Resecurity is a cybersecurity company that delivers a unified platform for endpoint protection, risk management, and cyber threat intelligence.

MIRACL

MIRACL

MIRACL provides the world’s only single step Multi-Factor Authentication (MFA) which can replace passwords on 100% of mobiles, desktops or even Smart TVs.

Directory of Cyber Security Suppliers

Directory of Cyber Security Suppliers

Our Supplier Directory lists 8,000+ specialist cyber security service providers in 128 countries worldwide. IS YOUR ORGANISATION LISTED?

Authentic8

Authentic8

Authentic8 transforms how organizations secure and control the use of the web with Silo, its patented cloud browser.

Jooble

Jooble

Jooble is a job search aggregator operating in 71 countries worldwide. We simplify the job search process by displaying active job ads from major job boards and career sites across the internet.

Rafael

Rafael

Rafael has more than 15 years of proven experience in the cyber arena providing solutions for national security as well as commercial applications.

Synack

Synack

Synack provides a hacker-powered intelligence platform that uncovers security vulnerabilities that often remain undetected by traditional pen testers and scanners.

TrustInSoft

TrustInSoft

TrustInSoft develops solutions that validate mission-critical software and eliminate attack vectors.

Industrial Networking Solutions (INS)

Industrial Networking Solutions (INS)

INS Services specializes in designing, deploying and providing on-going support for critical OT (Operational Technology) and IIoT (Industrial Internet of Things) networks.

Clavis Information Security

Clavis Information Security

Clavis is an Information Security company offering a complete portfolio of solutions from Pentesting and Security Assessments to Managed Security Services and Training.

Infosec Partners

Infosec Partners

Whether you’re looking for complete managed security or an on-call expert advisor, we offer a range of managed security services to complement your internal team or primary outsource partner.

IT Jobs Watch

IT Jobs Watch

IT Jobs Watch provides a concise and accurate map of the prevailing IT job market conditions in the UK.

RapidScale

RapidScale

RapidScale’s managed cloud solutions provide reliable, innovative, and secure services, all complete with white-glove service and full management options.

EVOKE

EVOKE

EVOKE is an award-winning Digital Transformation company that partners with its clients to build digital workplace solutions for organizational challenges.

SoloKeys

SoloKeys

SoloKeys provides the first open-source FIDO2 security key: Protect your online accounts against unauthorized access by using the most secure login method.

Sevco Security

Sevco Security

Sevco Delivers Real-time Asset Intelligence to Identify and Close Unknown Security Gaps.

Halborn

Halborn

Elite blockchain cybersecurity. Award-winning ethical blockchain hackers to secure your stack end-to-end. Far beyond smart contracts.

KingsGuard Solutions

KingsGuard Solutions

KingsGuard Solutions is a San Diego Cybersecurity company that specializes in complex and innovative security solutions for companies throughout Southern California.

Cisilion

Cisilion

Cisilion's mission is simple – to transform and connect business with next-generation IT infrastructure. Our expertise includes enterprise networking, security, data centre & cloud, managed services.

Awareness Software Limited (ASL)

Awareness Software Limited (ASL)

As Hosting Specialists, Awareness Software offer practical and affordable hosting solutions including backup and disaster recovery and a range of cybersecurity services.

Fairly AI

Fairly AI

Fairly AI is on a mission to democratize safe, secure, and compliant AI across the enterprise.