The future of jobs report 2018

A significant volume of research on the theme of the future of work has emerged since the World Economic Forum published its initial report on the subject, ‘The future of jobs: employment, skills and workforce strategy for the Fourth Industrial Revolution’, early in 2016 . Latest research from the World Economic Forum forecasts that by 2025, machines will perform more current work tasks than humans, compared to 71 per cent being performed by humans today. The rapid evolution of machines and algorithms in the workplace could create 133 million new roles in place of 75 million that will be displaced between now and 2022. Urgent challenges include providing reskilling opportunities, enabling remote work and building safety nets to protect at-risk workers and communities., This report is based on a survey of chief human resources officers and top strategy executives from companies across 12 industries and 20 developed and emerging economies (which collectively account for 70 per cent of global GDP), the report finds that 54 per cent of employees of large companies would need significant re- and up-skilling in order to fully harness the growth opportunities offered by the Fourth Industrial Revolution. At the same time, just over half of the companies surveyed said they planned to reskill only those employees that are in key roles while only one third planned to reskill at-risk workers. This report is an attempt to understand the potential of new technologies to disrupt and create jobs. It also seeks to provide guidance on how to improve the quality and productivity of the current work being done by humans and how to prepare people for emerging roles.