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WEF Says Machines Will Create More Jobs Than They Destroy, but Warns of Pandemic 'Double-Disruption'


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A worker and a robot in Tesla's factory in Fremont, CA.

According to the World Economic Forum, advances in robotics and artificial intelligence will result in a net increase in jobs over the next five years.

Credit: Monika Auger/The Wall Street Journal

The World Economic Forum predicts robotics and artificial intelligence advancements will result in a net increase in jobs over the next five years.

Although the spread of machines and automation would cause the loss of 85 million jobs by 2025, 97 million new jobs would be created concurrently, for an overall gain of 12 million, according to a new WEF report.

WEF predicts equal division of labor between humans and machines by 2025, which will require a significant amount of reskilling and upskilling from employers, to ensure staff are sufficiently prepared for the future of work.

The organization said the combination of technological adoption and the Covid-19 crisis creates a "double-disruption" for workers, with the former transforming the work environment and the latter leading to lob losses.

From CNBC
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