More than half of all workplace tasks will be completed by machines by 2025, according to a World Economic Forum (WEF) report, underscoring how rapidly the labor market will change in the near future. The WEF estimates that machines will be responsible for 52% of the division of labor as a share of hours within seven years, marking a significant jump from the current share of 29%.
While about 75 million jobs worldwide will be lost by 2022, that number could be offset by the creation of 133 million new jobs, according to the report. However, this will require widespread training and retraining of employees.
"Our research suggests that neither businesses nor governments have fully grasped the size of this key challenge of the Fourth Industrial Revolution," says WEF board member Saadia Zahidi.
From Associated Press
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