The new jobs are expected to be generated in the fields such as artificial intelligence and content creation. (Bloomberg image)
The coronavirus pandemic has led companies in India to adopt automation and digitalisation faster than the global average. While 58 per cent companies in India are accelerating automation of tasks, compared to 50 per cent globally, as many as 87 per cent are accelerating digitalisation of work processes, above the global average of 84 per cent, showed a study by World Economic Forum. The COVID-19 pandemic is making companies automate their workforce faster than expected globally, the report added.
It is also estimated that the new trend may lead to 8.5 crore jobs getting displaced in the next five years in medium and large businesses across just 15 industries and 26 economies while the robot revolution will create 9.7 crore new jobs. However, the communities most at risk from disruption are expected to need support from businesses and governments, the report further said.
The new jobs are expected to be generated in the fields such as artificial intelligence and content creation. In an interesting finding, it is revealed that by 2025, employers will divide work between humans and machines equally. Also, there will be a rise in demand of roles that leverage human skills while machines will be primarily focused on information and data processing, administrative tasks, and routine manual jobs for white and blue-collar positions. However, jobs related to managing, advising, decision-making, reasoning, communicating, and interacting will still be employing humans due to comparative advantage.
Meanwhile, the paradigm shift is expected to change the outlook of the job market. While nearly 43 per cent of businesses surveyed indicate that they are set to reduce their workforce due to technology integration, 41 per cent plan to expand their use of contractors for task-specialized work, and 34 per cent plan to expand their workforce due to technology integration.