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14 million jobs worldwide will vanish in the next 5 years, new economic report finds | CNN Business

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Huge disruptions will rock the global job market over the next five years as the economy weakens and companies boost adoption of technologies such as artificial intelligence.

That finding comes from the World Economic Forum, which on Sunday published a report based on surveys of more than 800 companies. WEF — which hosts a gathering of global leaders in Davos, Switzerland, every year — found that employers expect to create 69 million new jobs by 2027 and eliminate 83 million positions. That will result in a net loss of 14 million jobs, equivalent to 2% of current employment. Many factors will feed labor market churn during that period.

At the same time, the proliferation of artificial intelligence will put many roles at risk, as robots replace humans in some cases. There could be 26 million fewer record-keeping and administrative jobs by 2027, WEF predicted. Data entry clerks and executive secretaries are expected to see the steepest losses. Despite the recent sensation surrounding tools like ChatGPT, automation has expanded slowly in the early part of this decade.

 

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