Beware of bots: Automation could wipe out almost half of all jobs in 20 yrs

Automation, robots and globalisation are rapidly changing the workplace and governments must act fast and decisively to counter the effects or face a worsening of social and economic tensions, the OECD warned.

Almost half of all jobs could be wiped out or radically altered in the next two decades due to automation, the Paris-based group said in a report on Tuesday. According to OECD Labor Director Stefano Scarpetta, the pace of change will be “startling.”

Safety nets and training systems built up over decades to protect workers are struggling to keep up with the “megatrends” changing the nature of work, the OECD said.

While some workers will benefit as technology opens new markets and increases productivity, young, low-skilled, part-time and gig-economy workers are vulnerable.

“Deep and rapid structural changes are on the horizon, bringing with them major new opportunities but also greater uncertainty among those who are not well equipped to grasp them,” Scarpetta said. Read Complete Article