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Robots Expected to Replace More than 5 Million Workers

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Robot

Credit: Paul Keller, flickr.com
CC BY 2.0

by Jill Ward, Bloomberg

Over five million jobs will be lost by 2020 as a result of developments in genetics, artificial intelligence, robotics and other technological change, according to World Economic Forum research.

About 7 million jobs will be lost and 2 million gained as a result of technological change in 15 major developed and emerging economies, WEF founder Klaus Schwab and managing board member Richard Samans said in “The Future of Jobs.” The findings are taken from a survey of 15 economies covering about 1.9 billion workers, or about 65 percent of the world’s total workforce.

The blurred lines between physical, digital and biological spheres amount to a Fourth Industrial Revolution, according to the WEF, which will address the idea as the idea at its annual meeting of policy makers, academics and economists in Davos, Switzerland.

More …

© 2016 Bloomberg L. P.

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