© Getty Images Robots are expected to replace millions of jobs

According to the World Economic Forum, robots are set to create 133 million jobs by 2022. The Swiss Think Tank has predicted robots will displace 75 million jobs globally by 2022 but in turn, will provide 133 million jobs throughout the world.

There would be “significant shifts” in the quality, location and format of new roles, according to the WEF report, which suggested that full-time, permanent employment may potentially fall.

The new age A. I. machines will swiftly be replacing positions in accounting firms, factories and post offices, as well as secretarial roles and cashier work. These advances in computing would free up workers for new tasks. But others have warned there is no guarantee lost jobs will be replaced.




At the same time, they will create a niche for new job opportunities like data analysts, software developers and social media specialists. Jobs are based on “distinctly human traits” such as customer service workers and teachers. Workers would need to be retrained to update their skills in order to be in touch with new age technology.

Some companies could choose to use temporary workers, freelancers and specialist contractors, while others may automate many of the tasks.

Machines are expected to perform about 42 per cent of all current tasks in the workplace by 2022, compared to only 29 per cent now, according to firms surveyed by WEF. Humans are expected to work an average of 58 per cent of task hours by 2022, up from the current task hours of 71 per cent.





An analysis from global audit firm PwC also made similar predictions. It said that AI, robotics and other forms of “smart automation” technologies could boost productivity and create better products and services. While some jobs will be displaced or “fundamentally changed in nature,” new jobs will also be created and the long-term net effect should be positive for the economy as a whole.

According to Saadia Zahidi, head of the Centre for the New Economy and Society at the World Economic Forum, “There is both a moral and economic imperative to do so, without proactive approaches, businesses and workers may lose out on the economic potential of the Fourth Industrial Revolution.”
The Fourth Industrial Revolution basically refers to the ways new technologies will alter the way people live, work and relate to one another.
Ultimately, if companies can effectively manage to upgrade the skills of existing workers and splitting tasks between employees and machines, they would create the opportunity for higher productivity growth, the WEF said.

 

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