The wider application of artificial intelligence (AI) will be major factor in the loss of 14 million jobs in the next five years, according to the World Economic Forum (WEF).
The WEF said the worsening global economy will also contributed to that number of job loss.
AI and economic and social conditions are expected to result in 83 million job losses, with only 69 million jobs created by 2027, said the report, which was published Sunday.
That will result in a net loss of 14 million jobs, which represents 2 percent of current global employment.
The report anticipates that almost a quarter of employees will change jobs, mainly due to the advent of new technologies.
The adoption of technology and higher digital access will also create net job growth but with greater offsets from losses. Slower economic growth, supply shortages and inflation pose the greatest risks to jobs, says the report.
The advent of AI will risk many roles directly as robots replace humans in some instances. There could be some 26 million fewer record-keeping and administrative jobs by 2027, said the WEF.
According to the report, in 2020, employers thought 47 percent of roles would be automated by 2025. Today, they anticipate that number to reach 42 percent by 2027.
CURRENTPH NEWS SERVICE