Newsletter Article
Member Benefit
Published Fri May 05 2023
Nearly 25 percent of jobs worldwide are set for disruption in the next five years due to the digitization and automation of work. That's according to the World Economic Forum, which offered recommendations to offset the worst effects of this trend. The report warns that while the changes will create new job opportunities, they will also result in significant job displacement, particularly in the hospitality, retail, and manufacturing industries. The pandemic has accelerated the shift toward automation and digitization, with many companies turning to technology to maintain their operations and reduce costs. This has generated new digital jobs, but it has also put pressure on workers lacking the necessary digital skills. To avoid massive upheavals in the workforce, governments must prioritize reskilling and upskilling initiatives to ensure workers have the necessary skills to succeed in the changing labor market. It also calls for increased collaboration among governments, businesses, and educational institutions to identify emerging skill needs and develop training programs to address them.
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