Machines will do more tasks than humans by 2025

Economy       Want to survive the robot revolution? You need to start from square one
       	        Priyamvada Grover         17 September 2018

Economy Want to survive the robot revolution? You need to start from square one Priyamvada Grover 17 September 2018

But actually, the rise of the robots won't be that bad, according to a report by the World Economic Forum.

Companies expect a significant shift on the frontier between humans and machines when it comes to existing work tasks between 2018 and 2022. It also estimates that while that trend could displace 75 million jobs globally by 2022, it'll create 133 million new positions.

Almost 50 percent of companies expect that automation will lead to some reduction in their full-time workforce by 2022, based on the job profiles of their employee base today. Its authors say the outlook for job creation has become more positive since the last report in 2016 because businesses have a better sense of the opportunities made possible by technology.

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In terms of labour division, 2025 is set to be the year machines tip the scales.

Robots will handle 52 per cent of current work tasks by 2025, nearly twice as many as now, a World Economic Forum (WEF) study said today.

CNBC reported a statement from a Swiss non-profit organization that said human work is expected to account for an average of 58 percent of total work hours by 2022, down from the current total work hours of 71 percent. A major challenge, however, will be training and re-training employees for that new world of work. "This migration does not represent a great rupture in the jobs market, but a continuation of what has always happened with new technologies that automate tasks, going back to the first industrial revolution; the lowest skills are replaced by higher skills".

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Mr Haldane said companies would have to expand in innovative ways to create new human jobs, but whether they will manage to is an "open question".

So it'll be farewell to jobs such as office administrator and driver, and hello to new roles such as drone piloting and remote patient health monitoring.

"By taking a more holistic approach to the future of work, a man-machine partnership will open up a new realm of possibilities for organisations". Meanwhile, technology enthusiasts among us needn't despair; the amelioration of worldwide computing will see the industry snowball as it requires more specialist workers to deal with data, software and social media.

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