World Economic Forum A.I. on Future of Jobs Report

The Future of Work is getting concerning. A Machine Economy is emerging instead.

See you around? Maybe?

Hey Guys,

Many of you reading this are software engineers, data scientists, data engineers and Cloud tech workers. The future of work is starting to concern me a bit more as I curate A.I. news and think about the “studies” coming out.

Over 300,000 tech workers gone in the first half of 2023. Facing an uncertain global economy and slowing revenue growth, technology companies have picked up the pace of layoffs in 2023, with total staff cuts now greater than all tech company job losses last year. However, educational companies are reporting they are likely to be disrupted by ChatGPT as well.

IBM says it might (read: will likely soon) around 7,800 humans with A.I. Why are we praising that which might disrupt us? Are we masochists or something?

Findings from the World Economic Forum, which on Sunday published a report based on surveys of more than 800 companies, have some potential implications we can discuss.

The World Economic Forum

🤖 Nearly one in four jobs are set to change over the next five years as a result of trends including artificial intelligence, digitization, the green energy transition and supply chain-reshoring, according to a new report from the World Economic Form.

The report, which is based on a survey of over 800 employers, also said global job markets are set for a "new era of turbulence" as clerical work declines and employment growth shifts to areas such as big data analytics, management technologies and cybersecurity.

• Employers expect to create 69 million new jobs by 2027 and eliminate 83 million positions, with a net loss of 14 million jobs, it said.

• Up to 26 million jobs in record-keeping and administrative positions will be eliminated as roughly 75% of surveyed companies said they expect to adopt AI technologies over the next five years.

• Slower economic growth, supply shortages and inflation remain a bigger threat to jobs than AI for now, the report said.

I will be cover this topic in a future post on A.I. Supremacy (fresh layout).

If you are curious to read the report, here it is:

So why does this headline concern me and why should it maybe concern you?

Nearly 25% of jobs are set to be disrupted in the next five years — and A.I. could play a key role: World Economic Forum

It’s the way in which the WEC obtained the data of these projections that’s salient.