The Future of Work: 92 Million Jobs at Risk of Being Lost to Automation by 2030

A recent report by the World Economic Forum (WEF) has sent shockwaves around the globe, predicting that 92 million jobs will be lost worldwide by 2030 due to automation. The report, titled "The Future of Jobs," highlights the significant impact of technological advancements, geopolitical tensions, and the green transition on the job market.



According to the report, 41% of employers plan to downsize their workforce by 2030, resulting in the loss of 92 million jobs. The fastest declining roles are those that can be automated, such as ticket clerks, administrative assistants, cashiers, bank tellers, and data entry workers. These jobs are expected to disappear in the next five years, replaced by artificial intelligence (AI) at a fraction of the cost.

However, the report also highlights the creation of new jobs, with 78 million new roles expected to emerge by 2030. This change will offset the job losses, but it also means that workers will need to acquire new skills to remain relevant in the job market.

The WEF report paints a stark picture of the future of work. Imagine a world where 100 people represent the global workforce. Out of these, 41 people are secure in their jobs, including those in physical labor, medical personnel, strategic decision-makers, tech professionals, and green energy experts. However, the remaining 59 workers need training urgently, with 29 requiring upskilling to continue in their current roles, 19 needing to be redeployed to different roles, and 11 facing the prospect of losing their jobs.

This scenario is not hypothetical; it is based on data and trends that are already emerging. The report emphasizes that workers need to acquire new skills to remain relevant in the job market. On average, 39% of skills will become outdated in the next five years, making it essential for workers to upskill and reskill.

Upskilling is not just a buzzword; it is a force for good. According to the WEF, upskilling alone can help create more than 5 million new jobs by 2030, boost global GDP by more than $6 trillion, and future-proof workers. Upskilling creates effective workers who can stay relevant and competitive in a rapidly changing job market.

So, how can workers acquire the skills they need to remain relevant? The report suggests that workers should look at their current role, identify broad industry-wide trends, and then look at the skill gaps that need to be filled. For example, if you work in oil and gas, it may be beneficial to learn more about electric vehicles or green energy. If you work in marketing, spending more time on Instagram and TikTok can help you understand emerging consumer trends.

The future of work is uncertain, but one thing is clear: workers need to be proactive in acquiring new skills to remain relevant. The WEF report serves as a wake-up call, highlighting the need for workers to upskill and reskill to stay ahead of the curve.

 

Food for thoughts:

  • The Rise of Automation: How Will it Impact the Job Market?
  • The Future of Work: What Skills Will Be in Demand in 2030?
  • Upskilling and Reskilling: The Key to Remaining Relevant in the Job Market

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