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WEF predicts machines will perform half of work tasks by 2025

(Image credit: Image Credit: Alex KNight / Unsplash)

Robots might cause you to lose your current job, but they will also probably carve you out a different one, according to a new report from the World Economic Forum.

The report claims that around 85 million jobs will be lost to robots and other automated machines within the next five years. At the same time, 97 million new jobs will be created, in 15 different industries and 26 economies.

However, this shift may involve a period of turbulence and will require heavy upskilling and reskilling among the workforce.

Discussing the report, Guy Ryder, Director-General of the International Labor Organization (ILO), said there will need to be a “massive investment in people, workplaces and jobs” in growth industries.

With people needing upskilling and reskilling, governments and companies must “invest in social protection – the most effective lubricant of change” if they want workers to accept and embrace changes without “falling through the cracks” in the process.

New laws and regulations to protect the workers will also be made necessary, and the Covid-19 pandemic, coupled with the rise of remote working, has only accelerated this shift.

Some people fear automation, machine learning and artificial intelligence will soon make humans replaceable. Others, however, embrace the new technology, believing it will hoover up mundane and repetitive tasks, leaving human workers to add value in a more creative capacity.