Nearly 23% of jobs may change worldwide in next five years: Report

A new report by Future of Jobs Report 2023 has revealed that nearly 23 percent of jobs may change in the next five years across the world.

May 5, 2023 18:59 IST

It added that major roles in the creation of jobs in different sectors are driven by digitalisation as well as technology. (Representative image: IE)

A new report by Future of Jobs Report 2023 has revealed that nearly 23 percent of jobs may change in the next five years across the world. This includes a surge of 10.2 percent and a dip of 12.3 percent. Released earlier this week, the report was made based on a survey taken from 803 companies.

As per the reports released by the World Economic Forum recently, employers of various companies feel that around 69 million new jobs will come up and 83 million jobs will be cut during the period. Talking about India, it pointed out the country may see a churn of 22 percent.

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The report further observed that close to 61 percent of companies in India believe that the use of ESG standards is expected to play a critical role in job creation, as also technologies and increasing digital access. It further said that increasing churn in the labour market is expected to help in the creation of jobs in the country.

It added that major roles in the creation of jobs in different sectors are driven by digitalisation as well as technology. In the tech industry, close to 65 percent of respondents expect a surge in job creation in different roles. By 2027, various roles like big data specialists, cybersecurity professionals, and data analysts, among others, are expected to grow by around 30 percent.

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In the next five years, companies are also expected to train workers to use artificial intelligence, even as 42 percent of the surveyed companies will also have big data during the same period. It is expected to be behind analytical thinking (48 percent ) and creative thinking (43 percent) in terms of priority. The report further observed that around 2 million new digital-related roles are expected in the coming years. They include digital marketing and strategy specialists, among others.

It further pointed out that as compared to three years ago, tasks are no more seen as automated. Currently, about 34 percent of the tasks are only automated. The companies which were surveyed for the report have also revised their expectations for more automation.