There have been several job cuts over the last few months. Even big tech giants like Google, Meta and Twitter laid off their employees for many reasons. The uncertainty in the market still continues. Amid this, a report from World Economic Forum (WEF) has claimed that employers expect to create 69 million new jobs by 2027.
It also said they are expected to eliminate 83 million positions among the 673 million jobs corresponding to the dataset. This will result in a net loss of 14 million jobs, equivalent to 2 per cent of current employment. This is due to the weakening of the economy and companies' adoption of technologies such as artificial intelligence (AI), the new report, Future of Jobs, has revealed. The report is based on surveys of more than 800 companies.
Which jobs are at risk?
Jobs in clerical or secretarial roles, such as bank tellers, cashiers and data entry clerks are expected to decline fastest. The declining roles are also being driven by technology and digitalisation.
In contrast, the employment of data analysts and scientists, big data specialists, AI machine learning specialists and cybersecurity professionals is expected to grow on average by 30 per cent by 2027.
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The Indian job market is estimated to witness 22 per cent churn over the next five years. Globally, the job market churn is estimated at 23 per cent. "Almost a quarter of jobs (23 per cent) are expected to change in the next five years through growth of 10.2 per cent and decline of 12.3 per cent (globally)," the WEF said.
The rush to deploy artificial intelligence, meanwhile, will serve as both a positive and a negative force. Companies will need new workers to help them implement and manage AI tools. Despite the recent AI chatbot tools like ChatGPT and Bard, automation has expanded slowly in the early part of this decade.
(With inputs from agencies)
