Robots will take 75 million jobs by 2022 says WEF

Robots will soon dominate workplaces says WEF in new report

"People, whether they're workers or consumers, will only accept and tolerate the consequences if technology serves them - and not they it", Reiner Hoffmann told daily Welt in reaction to the WEF report.

Although machines will replace more humans in jobs by 2025, there will still be a net increase of 58 million new jobs brought by the development of artificial intelligence over the next five years, according to a report released by the World Economic Forum now held in Tianjin, The Paper reported.

The report forecasts that, by 2020, machines will perform 42% of all current tasks in the workplace. Consequently, humans will go from performing 71% of total task hours to 58%.

The latest edition of WEF's report focuses on "arriving at a better understanding of new technologies, including automation and algorithms, to create new high-quality jobs and vastly improve the job quality and productivity of the existing work of human employees".

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The report also predicts that advances in machine learning and digital automation will eliminate 75 million jobs by 2025. Businesses are to expand use of contractors for task-specialized work, engage workers in more flexible arrangements, utilize remote staffing, and change up locations to get access to the right talent. Among the roles set to experience increasing demand across all industries are data analysts and scientists, software and applications developers, and e-commerce and social media specialists, all of which are significantly based on or enhanced by technology. "This is the key challenge of our time", said Klaus Schwab, founder and executive chairman of the WEF.

However, many roles will become "increasingly redundant" including repetitive and manual roles in administrative, factory and financial work, the WEF says. "Without proactive approaches, businesses and workers may lose out", she said.

Its report, The Future of Jobs 2018, foresees robots swiftly replacing humans in the accounting, client management, industrial, postal and secretarial sectors.

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