New technologies and the heightening climate crisis are transforming the scene of work at an “unprecedented rate,” as indicated by a new report from the World Economic Forum.
According to the WEF, 69 million new jobs will be created worldwide between now and 2027. However, 83 million roles are expected to be eliminated, resulting in a net loss of 14 million jobs.
The majority of their findings are based on a survey of 803 companies with 11.3 million employees across 45 economies around the world.
Some jobs will see an increase in demand over the next five years due to the rise of generative AI and other intelligent technologies and the push to “go green,” while others run the risk of becoming obsolete.
As more companies use AI to automate processes and better predict customer demand, demand for specialists in AI and machine learning is expected to rise by 40% over the next five years, adding approximately one million jobs to the global economy.
Simultaneously, global efforts to diminish carbon emissions including stricter environmental regulations and the limitation of supply fastens are leading to “a wealth of green jobs” across industries, for example, sustainability specialists and renewable energy engineers.
Since more than three-quarters of the companies surveyed by the WEF stated that they plan to implement “big data” analytics, cloud computing, artificial intelligence, and other emerging technologies in their organizations within the next five years, it should come as no surprise that many of the roles with the fastest growth rates are in the technology sector.
Coca-Cola, for example, is using AI to further develop customer service and ordering and experimenting with different avenues regarding ChatGPT to “enhance marketing capabilities and business operations,” per its latest earnings report.
The WEF’s managing director, Saadia Zahidi, told on Monday at the WEF’s growth summit in Geneva, Switzerland, that education, agriculture, and health—in addition to technology, manufacturing, and retail—could see significant job growth as a result of new technologies.
“In part that is happening not because these are unsafe, low-paid, low-skilled jobs around the world,” she explained. “These are higher skilled, higher value-add jobs enabled by technology in the fields of agriculture, health [and] education.”
The WEF’s report repeats prior discoveries from the Bureau of Labor Statistics, which additionally distinguished jobs in information and renewable energy as some of the fastest-growing occupations in the U.S. over the next decade.
Data scientists and information security analysts made both lists because they are two of the jobs that will grow the fastest between now and 2027 and will be in high demand for a decade.
Both jobs, which regularly require a bachelor’s degree, accompany six-figure salaries: According to the BLS, information security analysts earn an average salary of $112,000 in the United States, while data scientists earn an average salary of $103,500.
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