World Economic Forum: Robots And Artificial Intelligence To Wipe Out 5.1 Million Jobs By 2020

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The human race should be braced for robots taking 5.1 million of our jobs, the World Economic Forum (WEF) has warned.

In a report titled 'The Future of Jobs' it explained how we are on the cusp of the fourth industrial revolution - one that is shaped by the rapid growth of technology.

Describing the trends we should expect, the report states: "more than 5.1 million jobs lost to disruptive labour market changes over the period 2015–2020, with a total loss of 7.1 million jobs—two thirds of which are concentrated in routine white collar office functions, such as Office and Administrative roles—and a total gain of 2 million jobs, in Computer and Mathematical and Architecture and Engineering related fields."

robot jobs 2020 world economic forum davos

While impending doom may not seem that far away, the study does present the problem as an opportunity for employers to equip workers with a more secure skills set.

According to the WEF, in order to out perform our robotic competition, we will need to foster skills around critical thinking and creativity.

world economic forum jobs report

Another worrying development the report predicts, is how the "tech revolution" will exacerbate the gender gap already present in today's work force.

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"Men will face nearly 4 million job losses and 1.4 million gains," while women will face 3 million jobs losses but only 0.55 million gains," the authors write.

These conclusions are based on a survey of more than 13 million female and male employees across nine broad industry sectors in developed and emerging economies.

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