Machines will do half of workplace tasks by 2025

‘Fourth Industrial Revolution’ could create 133 million jobs globally

Machines and automated software will be handling fully half of all workplace tasks within seven years, a new report from the World Economic Forum (WEF) forecasts. But the group said technologies such as artificial intelligence, robotics, and precision medicine, could create more jobs than they threaten.

In a study of executives and specialists across 12 industries, published yesterday, the WEF concluded that this so-called “Fourth Industrial Revolution” could create 133 million jobs globally, while 75 million workers may be displaced.

Saadia Zahidi, head of the WEF’s Centre for the New Economy and Society, said companies had “a moral and economic imperative” to invest in retraining and continuing education for their employees.

Previous studies, including an earlier one by the WEF, have generally forecast automation will destroy more jobs than it creates.

The WEF predicted job losses to be heaviest in mining, consumer, and information technology companies, and less within professional services firms.

WAM His Highness Shaikh Mohammad Bin Rashid Al Maktoum, VicePresident and Prime Minister of the UAE and Ruler of Dubai, yesterday attended activities of the UAE Strategy for the Fourth Industrial Revolution. The UAE, he said, will help the world find solutions to improve the quality of peoples’ lives. SEE ALSO P7, 18