According to the World Economic Forum, their recent “The Future of Jobs Report 2020” indicates the COVID-19 pandemic-induced lockdowns and related global recession of 2020 have created a highly uncertain outlook for the labor market and accelerated the arrival of the future of work in the next five years.
Bob Larson
The adoption of cloud computing, big data, and e-commerce remain high priorities for business leaders, and a significant rise in interest for encryption, robots, and artificial intelligence.
Forty-three percent of businesses surveyed indicate that they are set to reduce their workforce due to technology integration, 41% plan to expand their use of contractors for task-specialized work, and 34% plan to expand their workforce due to technology integration. The report estimates by 2025 that 85 million jobs may be displaced, while 97 million new roles may emerge due to the new division of labor between humans, machines, and algorithms.
On average, companies estimate that around 40% of workers will require reskilling of six months or less and 94% of business leaders report that they expect employees to pick up new skills on the job, a sharp uptake from 65% in 2018. 84% of employers are set to rapidly digitalize working processes, including 44% of their workforce to operate remotely.
Online learning and training are on the rise with a four-fold increase of individuals seeking out opportunities for learning online, a five-fold increase in employer’s provision of online learning, and a nine-fold enrolment increase for learners accessing online learning through government programs.
Regardless of who wins the presidential election this month and the COVID-19 pandemic, the wheels of motion seem to indicate the workforce will need to adapt to the new work environment of robotics, artificial intelligence, and creativity. This is another great use of technology helping our planet.
~ Bob Larson is a technologist and Marketing Director for 50 Plus!