We have seen robots being developed for the past two decades. It starts from the toy robot your child plays to the advanced robotic arm with modern features. Artificial intelligence is also rising in the software world. In a recent study, these two technologies may soon take jobs.
Robots and artificial intelligence is beginning to disrupt the labor market and according to a study from Davos, 5.1 million jobs will be lost in the next five years in 15 leading countries which roughly covers 65% of the world's total workforce.
The number came about after indicating challenges that modern technologies may bring especially to manufacturing, operating and production lines. The rise of robotics and artificial intelligence is said to reduce risk and will affect manufacturing to healthcare industries - especially for businesses that require repetitive tasks that can be replaced by automation.
The study from Davos was produced by the World Economic Forum which is scheduled to meet at the Swiss Alps during this week. The projections initially stated a total loss of 7.1 million jobs but will be offset by 2 million jobs gained.
United Nation's Internal Labor Organization has also forecasted an increase in global unemployment in 2020 of 11 million.
Office and administrative sectors may be affected when smart machines can take over routine tasks. This loss will most likely affect women who are filling office and administrative roles.
The official theme for this year's meeting in Davos is "The Fourth Industrial Revolution" which covers robotics, nanotechnology, biotechnology and 3D printing. The annual meeting is scheduled on January 20 to 23.
The "Future of Jobs" study indicates that the impact will be great in every industry but on the bright side of things, industries will need skilled certain skilled workers which includes data analysts and specialist sales representatives.
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