Pandemic speeding up automation; 85 million jobs are on the line: WEF
The Covid-19 pandemic is making companies automate their workforce
faster than expected globally, while firms with operations in India are
accelerating their automation and
digitisation above the global average, a World Economic
Forum (WEF) study showed on Wednesday.
The
year-long study on effects of automation in the
workplace and the outlook for robot revolution found that the ‘future of work’
has arrived early due to Covid-19 and may lead to 85 million jobs getting
displaced in the next five years in medium and large businesses across just 15
industries and 26 economies.
At
the same time, the robot revolution will create 97 million new jobs, but
communities most at risk from disruption will need support from businesses and
governments, the World Economic
Forum said.
These
new jobs would mostly emerge in the care economy, in fourth industrial
revolution technology industries like artificial intelligence, and in content
creation fields.
"Businesses
with operations in India are accelerating automation and
digitisation above the global average. While 58 per cent are accelerating
automation of tasks, compared to 50 per cent globally, as many as 87 per cent
are accelerating digitalisation of work processes, above the global average of
84 per cent," the study showed.
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