According to a study revealed by a World Economic Forum (WEF) on Wednesday, it is reported that the corona virus pandemic is making companies automate their workforce faster than expected globally, while firms with operations in India are accelerating their automation and digitisation above the global average. The year-long study on effects of automation in the workplace and the outlook for robot revolution found that the 'future of work' has arrived early because of COVID-19 and may lead to 85 million jobs getting displaced in the next 5 years in medium and large businesses across just 15 industries and 26 economies. At the same time, the robot revolution will generate 97 million new employments, but communities most at risk from disruption will need support from businesses and governments, the World Economic Forum said. These new jobs would mostly come into sight in the care economy, in fourth industrial revolution technology industries like artificial intelligence, and in content creation fields.
The study further showed that ‘Businesses with operations in India are picking up the pace automation and digitisation above the global average. While 58 percent are accelerating automation of tasks, in comparison with 50 percent globally, as many as 87 percent are accelerating digitalisation of work processes, above the global average of 84 percent.
By 2025, employers will split work between humans and machines equally. Roles that leverage human skills will rise in demand. Machines will be mainly focused on information and data processing, administrative tasks and routine manual employments for white and blue-collar positions. The tasks where humans are set to retain their comparative advantage consist of managing, advising, decision-making, reasoning, communicating and interacting. There will be a rise in demand for workers who can fill green-economy jobs, roles at the forefront of the data and artificial intelligence economy, in addition new roles in engineering, cloud computing and product development.
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