Automation Will Create 30 Cr New Jobs; Women Will Lose More Jobs Than Men!

World Economic Forum in Davos, Switzerland has presented some interesting insights into the future of the workforce, and the dangers of employment in contemporary times.

As per a recent Accenture report, more than 30 crore or 300 million new jobs would be created due to increased automation, thereby signalling a new era of employment.

At the same time, a report predicts that automation will force more women to lose their jobs, compared to men.

This discrimination in losing jobs due to automation is something which was never predicted before.

What led to his prediction?

Accenture: Automation To Increase 10% Global Employment

As per a recent survey by Accenture, it was found that due to increased ‘AI and human-machine collaboration’, global workforce will increase by 10% by 2022 – This means that although automation and AI is taking away jobs right now, a paradigm shift is happening and newer opportunities are opening up, which never existed before.

The report states that as AI and Automation are fusing with human collaboration, revenues of companies can increase by 38% by 2022, which will increase profits of companies to the tune of $4.8 trillion. Hence, on an average for S&P500 firm, this translates to $7.5 billion of revenue and $880 million increase in profit

As per ILO, there are 3 billion employed people (in 2011), globally. Hence, as per Accenture, AI and Automation will directly crease 10% or 300 million new jobs by 2022.

The report by Accenture was prepared after surveying 14,000 workers and 1,200 senior executives across 11 countries, which included India as well.

The only negative aspect of the report is preparation: While 54% of business leaders admitted that increased fusion of human efforts and AI/Automation can increase profits, and jobs, only 3% actually admitted that they are doing something concrete to make it happen.

Women More Prone To Losing Jobs Due to Automation!

Meanwhile, a stunning report titled “Toward a Reskilling Revolution: A Future of Jobs for All,” was released last the WEF, Davos, which states that compared to men, women will lose more jobs due to automation in the current scenarios.

The report observes data and statistics provided by US Bureau of Labor Statistics, and the results are indeed alarming.

As per US Bureau of Labor Statistics, disruptive technologies such as automation will eat away 1.4 million jobs in the US by 2026, and out of that, 57% would be women.

One logic for this claim is that some job sectors or types of jobs are heavily gender-specific, and any form of disruption can wipe away entire workforce. For instance, secretarial and administrative assistant jobs, which are preferred for and by women. Automation in this niche can alone demolish 1.6 lakh jobs in the US.

Sample this: Even after reskilling, men will have 22 job options, whereas women will have only 12.

As per the report, education and awareness are the catalysts, which can empower women, and brace the new reality of employment in the wake of increasing automation and AI.

You can find the report here.