The rapid advancement of technology and the adoption of green energy are expected to bring about significant changes in the global job landscape over the next five years. According to the World Economic Forum’s Future of Jobs Report 2023, nearly a quarter of jobs, or 23%, are expected to undergo changes, with a growth rate of 10.2% and a decline rate of 12.3%.
How Artificial Intelligence Reshaping the Global Job Landscape
Employers are anticipating the creation of 69 million new jobs, while approximately 83 million jobs could be eliminated, resulting in the potential disappearance of 2% of current global employment or 14 million jobs. While macro trends such as green energy transition, ESG standards, and localisation of supply chains are expected to drive job growth, high inflation, slower economic growth, and supply shortages pose a significant threat to the global job ecosystem.
Jobs at Risk
The report identifies jobs that are at risk of being eliminated due to automation, sensor technologies, and online services. Jobs such as bank tellers, postal service clerks, cashier and ticket office clerks, and data entry staff are each expected to decline by more than a third in the coming five years. Data clerks are predicted to suffer the worst absolute job losses, with an expected 8 million job losses within five years, followed by administrative and executive secretaries, and accounting, bookkeeping, and patrol clerks.
Demand for New Jobs
However, the focus on technology and digitisation will also lead to job creation in new fields. Over 75% of the 803 companies surveyed have expressed their intentions to integrate big data, cloud computing, and AI technologies into their operations within the next five years. Autonomous and electric vehicle specialists, AI and machine learning specialists, environmental protection professionals, sustainability specialists, fintech engineers, and various analyst roles, including business, information, security, and data, are expected to see significant job growth rates of more than 30%.
To the surprise of many, the WEF Future of Jobs Report 2023 suggests that a significant number of non-technical jobs are projected to experience the highest growth rates in terms of job opportunities created. Heavy truck and bus drivers, vocational education teachers, and mechanics and machinery repairers as the occupations that will see the fastest absolute growth rates, with each set to gain around 2 million new jobs between 2023-2027.
Conclusion
In conclusion, the rapid advancement of technology and the adoption of green energy are expected to bring about significant changes in the global job landscape over the next five years. While some jobs are at risk of being eliminated, new jobs will be created in various fields. As the job market evolves, it is important for workers to keep up with the latest developments and acquire new skills to remain competitive.
