• Mon. Apr 22nd, 2024

14 Million Jobs Could Disappear In 5 Years: Is Yours Safe?

Bynewsmagzines

May 1, 2023
14 Million Jobs Could Disappear In 5 Years: Is Yours Safe?

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The job market is rapidly changing, and with the widespread use of AI and other technology, certain roles may be nonexistent in the near future.

A new report by the World Economic Forum surveyed over 800 companies and found that nearly 14 million jobs — or 2% of current employment — could disappear by 2027. Roles most at risk of disappearing are in administrative and record-keeping positions such as data entry and bookkeeping, as those roles will likely be replaced by automation, the report noted.

Technology will likely be the most prominent factor in both eliminating and creating jobs within the next five years, the report noted. More than 85% of companies surveyed said the adoption of new technology is the biggest driver of transformation within their organizations, and more than 75% said they are looking to adopt big data, cloud computing, and artificial intelligence within the next five years.

Related: ‘I Am Very Bullish on AI’: Apple CEO Tim Cook Says the Company Uses AI ‘Across All Products’

While the widespread incorporation of AI may threaten certain positions relating to record-keeping, creative and analytical thinking are among the most important skills for workers in 2023 and beyond.

The report found that analytical thinking was the most crucial skill for employees, followed by creative thinking — others that were among the high ranks were resilience, self-awareness, and curiosity. The data signals that cognitive skills have a growing importance in an increasingly technology-driven workplace.

The growing demand for analytical and creative thinking skills is most prevalent in the electronics, chemical, and advanced materials industries, as well as in nongovernmental and membership organizations, the study found.

Furthermore, analytical thinking is positioned to account for 10% of training initiatives by companies in the next five years.

Related: How the Best Entrepreneurs Combine Analytical and Emotional Instincts

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