Technological Advances Could kill 5 Million Jobs By 2020

B00Mer

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Sep 6, 2008
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Technological Advances Could kill 5 Million Jobs By 2020



Developments in artificial intelligence, robotics, and biotechnology, would disrupt the business world in a similar way to previous industrial revolutions, the World Economic Forum reports.

“The World Economic Forum said advances in technology, combined with socio-economic demographic changes, could lead to the net loss of 5 million jobs in 15 major economies in 2020. The report said the job loss predictions were “relatively conservative.”

“[A]s many as 7.1 million jobs could be lost through redundancy, automation or disintermediation, with the greatest losses in white-collar office and administrative roles,”the World Economic Forum stated in its ‘The Future of Jobs’ report released Monday.“The loss is predicted to be partially offset by the creation of 2.1 million jobs, mainly in…Computer and Mathematical or Architecture and Engineering.”

This first-of-its-kind report was released on the eve of the group’s economic forum where over 2,500 leaders from business, government and civil society will participate in an annual meeting in Davos, Switzerland. The future of jobs will be the central topic for discussion.

Referring to the transition as the “fourth industrial revolution,” the report said the jobs losses will come about because of developments in artificial intelligence, machine-learning robotics, nanotechnology, 3D printing and genetics and biotechnology. Those developments will lead to widespread disruption not only in business models, but also in labor markets, “with enormous change predicted in the skill sets needed to thrive in the new landscape.”

Two areas of job growth identified through the survey were data analysts, to crunch the torrents of data generated and collected by organizations, and sales representatives skilled in commercializing and explaining a company’s offerings to clients and investors.

Other growth areas were a new type of human resources and organizational development specialists, as well as jobs involving engineering skills in materials, biochemical, nanotech and robotics.” said rt.com



“The biggest job losses were expected to be in healthcare, followed by energy, financial services and investors. Big job creation is anticipated in information and communication technology, professional services and media, and entertainment.

The report said job losses would be felt equally between women (48 percent) and men (52 percent). But as men represented a larger share of the overall job market, women are expected to lose five jobs for every job gained, compared with men losing three jobs for every job gained.

Re-skilling employees was cited as the most popular workforce strategy for how best to deal with the “sweeping changes,” in addition to supporting mobility and job rotation.

Around 65 percent of children starting primary school today will end up working in jobs that don’t yet exist, and their future training is crucial, according to the report. It also noted that the most in-demand occupations or specialties did not exist 10 or even five years go, and that the pace is set to accelerate.

The report was based on a survey of senior executives from 350 companies across nine industries in 15 of the world’s largest economies, representing 65 percent of the global workforce.” rt.com

Technological Advances Could kill 5 Million Jobs By 2020 – Report | UPRISER
 

WLDB

Senate Member
Jun 24, 2011
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Ottawa
Sad but its nothing new. From the beginning of the industrial revolution on this has been the case.
 

gerryh

Time Out
Nov 21, 2004
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what they haven't taken into consideration is the loss of Baby Boomers in the work force. There will be a MAJOR shortage of workers as more and more BB's retire.
 

mentalfloss

Prickly Curmudgeon Smiter
Jun 28, 2010
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And replacing baby boomers with robots would be a substantial improvement.
 

CDNBear

Custom Troll
Sep 24, 2006
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I love cowardly implied insults. The authors of them always cry like a bitch when confronted head on.
 

gerryh

Time Out
Nov 21, 2004
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And replacing baby boomers with robots would be a substantial improvement.


Good luck replacing tradesman with a robot, bubba. There is already a shortage of tradesman, this includes electricians, plumbers, hvac, mechanics, etc.
 

gerryh

Time Out
Nov 21, 2004
25,756
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you left out carpenters you got something against carpenters prick?


you did see the "etc" at the end of the line, didn't you? That would mean I included ALL other trades without having to list ALL of them in the post. I know you're American, and historically have lower comprehension skills than the rest of the western world, but do try to keep up and ask for help when you don't understand something.



That's nice. Now show me a robot that can come in and trouble shoot an existing hvac system that isn't working properly.
 

Curious Cdn

Hall of Fame Member
Feb 22, 2015
37,070
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Hey! That's the leisure society that the Futurists were telling us about in the 1970s. Machines would do all of the work for us and we would have ... leisure. What none of them picked up on was that "leisure" = "unemployment" = "poverty". It's a damn shame but no one is going to pay us to be leisurly. The future ain't what it used to be.
 

Remington1

Council Member
Jan 30, 2016
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Technological Advances Could kill 5 Million Jobs By 2020



Developments in artificial intelligence, robotics, and biotechnology, would disrupt the business world in a similar way to previous industrial revolutions, the World Economic Forum reports.

“The World Economic Forum said advances in technology, combined with socio-economic demographic changes, could lead to the net loss of 5 million jobs in 15 major economies in 2020. The report said the job loss predictions were “relatively conservative.”

“[A]s many as 7.1 million jobs could be lost through redundancy, automation or disintermediation, with the greatest losses in white-collar office and administrative roles,”the World Economic Forum stated in its ‘The Future of Jobs’ report released Monday.“The loss is predicted to be partially offset by the creation of 2.1 million jobs, mainly in…Computer and Mathematical or Architecture and Engineering.”

This first-of-its-kind report was released on the eve of the group’s economic forum where over 2,500 leaders from business, government and civil society will participate in an annual meeting in Davos, Switzerland. The future of jobs will be the central topic for discussion.

Referring to the transition as the “fourth industrial revolution,” the report said the jobs losses will come about because of developments in artificial intelligence, machine-learning robotics, nanotechnology, 3D printing and genetics and biotechnology. Those developments will lead to widespread disruption not only in business models, but also in labor markets, “with enormous change predicted in the skill sets needed to thrive in the new landscape.”

Two areas of job growth identified through the survey were data analysts, to crunch the torrents of data generated and collected by organizations, and sales representatives skilled in commercializing and explaining a company’s offerings to clients and investors.

Other growth areas were a new type of human resources and organizational development specialists, as well as jobs involving engineering skills in materials, biochemical, nanotech and robotics.” said rt.com



“The biggest job losses were expected to be in healthcare, followed by energy, financial services and investors. Big job creation is anticipated in information and communication technology, professional services and media, and entertainment.

The report said job losses would be felt equally between women (48 percent) and men (52 percent). But as men represented a larger share of the overall job market, women are expected to lose five jobs for every job gained, compared with men losing three jobs for every job gained.

Re-skilling employees was cited as the most popular workforce strategy for how best to deal with the “sweeping changes,” in addition to supporting mobility and job rotation.

Around 65 percent of children starting primary school today will end up working in jobs that don’t yet exist, and their future training is crucial, according to the report. It also noted that the most in-demand occupations or specialties did not exist 10 or even five years go, and that the pace is set to accelerate.

The report was based on a survey of senior executives from 350 companies across nine industries in 15 of the world’s largest economies, representing 65 percent of the global workforce.” rt.com

Technological Advances Could kill 5 Million Jobs By 2020 – Report | UPRISER
When human's are all replaced by robotics technology, that is when classes will balance out. When you don't have a job, you have no money, so you cannot buy all the products that the robots are producing.
 

MHz

Time Out
Mar 16, 2007
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Actually when robots are the workers then the humans become the consumers rather than one class has nothing and the other class has everything. That is the imbalance that exists today and has for several centuries. It would be stupid to think that China going with robots means most of their citizens are flat broke for their whole lifetime, that is the western way and it is as ****ed as it always has been.
 

JLM

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Nov 27, 2008
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Technological Advances Could kill 5 Million Jobs By 2020



Developments in artificial intelligence, robotics, and biotechnology, would disrupt the business world in a similar way to previous industrial revolutions, the World Economic Forum reports.

“The World Economic Forum said advances in technology, combined with socio-economic demographic changes, could lead to the net loss of 5 million jobs in 15 major economies in 2020. The report said the job loss predictions were “relatively conservative.”

“[A]s many as 7.1 million jobs could be lost through redundancy, automation or disintermediation, with the greatest losses in white-collar office and administrative roles,”the World Economic Forum stated in its ‘The Future of Jobs’ report released Monday.“The loss is predicted to be partially offset by the creation of 2.1 million jobs, mainly in…Computer and Mathematical or Architecture and Engineering.”

Technological Advances Could kill 5 Million Jobs By 2020 – Report | UPRISER


More than likely just shorten the work week!