AI to disrupt labour market in next five years –WEF

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Artificial intelligence, agriculture technologies, digital platforms and apps, e-commerce, etc. have been projected to cause significant labour market disruption, the World Economic Forum “Future of Jobs Report 2023” has revealed.

The recently released report indicated that the disruption will come with substantial proportions of companies forecasting job displacement in their organisations, offset by job growth elsewhere to result in a net positive.

Recent research on generative AI showed it may affect a significant proportion of total worker tasks, adding that it did not distinguish between tasks being augmented and those automated. “Big data analytics, climate change and environmental management technologies, and encryption and cybersecurity are expected to be the biggest drivers of job growth.

The research further showed that regarding robots’ impact on employment, the strongest sectoral picture emerged for the adoption of non-humanoid robots, adding that while 60 per cent of companies operating in information and technology services foresaw job creation in the next five years, 60 per cent of companies operating in the production of consumer goods and the oil and gas industry foresaw job displacement.

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