New technology and automation will eliminate millions of jobs, but workers displaced by robots will be “easily” re-employed after retraining – often in higher paying positions. The claim comes in new research released by the World Economic Forum (WEF) as it prepares to kick off its annual conference in Davos, and appears ease worries about a looming employment crisis.
The study follows up on a similar report last year, which predicted that new technology in the workplace will mean the loss of 5 million jobs in 15 leading global economies by 2020. The latest research focused on the impact the “Fourth Industrial Revolution” – digital and traditional technology coming together to deliver efficiencies that will mean more jobs can be automated – will have on employment in the US.
It said that 96pc of the 1.4 million people expected to be displaced by 2026 in the US by new technology will be re-employed in new – usually better – positions.