Technology could kill 5 million jobs by 2020

Developments in artificial intelligence, robotics, and biotechnology, would disrupt the business world in a similar way to previous industrial revolutions, the World Economic Forum said in a report published Monday.

Administrative and white collar office jobs are most at risk from a “fourth industrial revolution,” the forum said on the eve of its annual meeting in Davos this week.

It found that as many as 7.1 million jobs in the world’s richest countries could be lost through redundancy and automation. Those losses would be partially offset by the creation of 2.1 million new opportunities in sectors such as tech, professional services and media.

Countries will have to invest in transforming their workforce if they want to keep up with the changes and avoid a worse case scenario of “talent shortages, mass unemployment and growing inequality,” said Klaus Schwab, the founder and chairman of the World Economic Forum.

Investing in education and adult learning programs is a good place to start.

You may download the World Economic Forum report on the Future of Jobs here… WEF_Future_of_Jobs

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