WEF Report says Robots to displace 5.1 Million Human Jobs by 2020

You may have seen or heard of how modern-day robots are making thing easy for us. But in the process, have you ever realized that these machines are endangering our jobs? Today, the biggest question is: How’s our future with robots and how these automatons will threaten mankind in the coming time?

A survey of 15 economies around the globe by the World Economic Forum (WEF) suggested that robots and artificial intelligence (AI) will seize about 5.1 millions human jobs in next five years. The WEF’s report on the world’s 65% workforce has provided telltale sign of AI taking a lead over mankind by 2020.

The report, which surveyed about 1.9 billion workers globally, suggested that humans will lose approximately 7 million jobs to robot, while around 2 millions could be gained, thanks to technological change in developed nations.

“As entire industries adjust, most occupations are undergoing a fundamental transformation. While some jobs are threatened by redundancy and others grow rapidly, existing jobs are also going through a change in the skill sets required to do them”, the report explained.

Although humans will experience job loss in every industry, major effects would be observed in data processing and administrative jobs, as per the report. More than two-third jobs in these sectors would be at risk by 2020, it added. A report by Business Insider suggests that robot may displace humans from nine sectors: lawyers, astronauts, drivers, pharmacists, soldiers, store clerks, rescuers, babysitters and reporters.

That report also stated that robots will likely be performing 45 percent of manufacturing tasks by 2025, compared to just 10 percent today.

The WEF report also warned that robots will perform about 45% manufacturing tasks in next one decade, compared to just 10% today.