How can we avoid a future of technology advancement leading to rising inequality, mass unemployment, and talent shortages? How do we move toward technology advancement leading to an age of good work, good jobs, and improved quality of life for all?
What does the business world think?
The World Economic Forum surveyed executives at over 300 of the largest companies in the world. Here is what they expect.
When asked to list their top concerns for determining where to locate, 74% of companies listed the availability of skilled local talent, and 64% report cost of labor. All other concerns were of significantly lower importance.
Companies expect employees to adopt a mindset of agile learning, to take control of their own learning.
Based on the 15 million employees in the companies surveyed, 7.5% of those jobs will be eliminated in the next 4 years, while there will be a 12% increase based on new jobs (a net 4.5% increase). Half of the companies expect to employ a smaller workforce in four years, and those new jobs will require additional skills that current workers are not likely to currently possess.
By 2022, 54% of all employees will require significant re- and upskilling of at least 6 months. Two-thirds of companies expect this retraining primarily to be the responsibility of the employees themselves except for high-value employees, expecting that they can either find people, automate or augment existing work, or use temporary services instead of reskilling the bulk of their employees.
Workers with in-demand skills that can help companies augment (increase productivity through person-machine interfaces) tasks could see an increase in their value.
Roles that are expected to increase:
- Data Analysts and Scientists
- AI and Machine Learning Specialists
- General and Operations Managers
- Big Data Specialists
- Digital Transformation Specialists
- Sales and Marketing Professionals
- New Technology Specialists
- Organizational Development Specialists
- Software and Applications Developers and
- Analysts
- Information Technology Services
- Process Automation Specialists
- Innovation Professionals
- Information Security Analysts
- Ecommerce and Social Media Specialists
- User Experience and Human-Machine
- Interaction Designers
- Training and Development Specialists
- Robotics Specialists and Engineers
- People and Culture Specialists
- Client Information and Customer Service
- Workers
- Service and Solutions Designers
- Digital Marketing and Strategy Specialists
Roles that are expected to decrease:
- Data Entry Clerks
- Accounting, Bookkeeping and Payroll Clerks
- Administrative and Executive Secretaries
- Assembly and Factory Workers
- Client Information and Customer Service Workers
- Business Services and Administration Managers
- Accountants and Auditors
- Material-Recording and Stock-Keeping Clerks
- General and Operations Managers
- Postal Service Clerks
- Financial Analysts
- Cashiers and Ticket Clerks
- Mechanics and Machinery Repairers
- Telemarketers
- Electronics and Telecommunications Installers and Repairers
- Bank Tellers and Related Clerks
- Car, Van and Motorcycle Drivers
- Sales and Purchasing Agents and Brokers
- Door-To-Door Sales Workers, News and Street Vendors, and Related Workers
- Statistical, Finance and Insurance Clerks
- Lawyers
