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The World Economic Forum (WEF) says that job disruption will equate to 22 per cent of the jobs by 2030.
In a report released on Tuesday titled 'Future of Jobs Report 2025' WEF says 170 million new jobs will be created and 92 million jobs will be displaced resulting in a net increase of 78 million jobs by 2030. Based on data from over 1000 companies, the report finds that skill gap is the most significant hurdle for business transformation in these companies. Nearly 40 per cent of skills required for the jobs need to change and 63 per cent of the employers says they are facing proper skillset as the key barrier. The report said out of every 100 workers from the global workforce, 59 are projected to require reskilling or upskilling by 2030, but out of this 11 are unlikely to receive it which suggests that over 120 million workers are at medium-term risk of redundancy. The report analysed that technology skills in Artificial intelligence (AI), big data and cybersecurity are expected to see rapid growth in demand, but human skills, such as creative thinking, resilience, flexibility and agility, will remain critical. Persons having a combination of both skill types will be increasingly crucial in a fast-shifting job market. While advances in AI and renewable energy are reshaping and driving the market, Frontline roles and essential in sectors like care and education will see the highest job growth by 2030. Till Leopold, Head of Work, Wages and Job Creation at the World Economic Forum says "Trends such as generative AI and rapid technological shifts are upending industries and labour markets, creating both unprecedented opportunities and profound risks," Leopold added "The time is now for businesses and governments to work together, invest in skills and build an equitable and resilient global workforce." The report said frontline roles, including farmworkers, delivery drivers and construction workers, will be more in demand and poised to see the largest job growth in absolute terms by 2030. Significant increases are also projected for care jobs, like nursing professionals, and education specialists, such as secondary school teachers, with demographic trends driving growth in demand across essential sectors. Meanwhile, advances in AI, robotics and energy systems, notably in renewable energy and environmental engineering, are expected to increase demand for specialist roles in these fields. However, roles like cashiers and administrative assistants will come under the fastest declining sector but are now joined by roles including graphic designers as generative AI rapidly reshapes the labour market. With half of the employers globally are planning to reorient their businesses to target new opportunities, AI is reshaping their business models. While 77 per cent employers are planning to upskill their workers, 41 per cent are planning to reduce their workforce as AI automates certain tasks The WEF report said urgent and collective action are required across government, businesses and education to bridge skills gaps, invest in reskilling and upskilling initiatives and create accessible pathways into fast-growing jobs and skills that are seeing fast growth in demand The World Economic Forum Annual Meeting 2025, taking place in Davos-Klosters from 20 to 24 January, convenes global leaders under the theme, Collaboration for the Intelligent Age. (ANI)
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