Technological innovations are expected to create millions of jobs. The World Economic Forum's latest Future of Jobs report, which identifies trends in 20 economies across 12 industry sectors, suggests that 75 million jobs may be displaced by machines and algorithms between 2018 and 2022. The positive news is that 133 million new jobs are most likely to be created during the same period.
We are seeing job creation and elimination in various job sectors. The types of jobs that will emerge and be eliminated will depend on the industry and the robotization, digitization and automation that is adopted.
The report also highlights that, in today's market, 71% of total task hours in each industry profiled in the report are performed by humans, compared to 29% performed by machines or algorithms. But the researchers predict that by 2022, the shift will increase with 58% of task hours performed by humans and 42% by machines and algorithms.
By way of example, it is predicted that by 2022, more than half of an organization's data processing and information search tasks, and perhaps even some reasoning, decision-making and administrative tasks, will be performed by machines.
The top 10 emerging jobs are those that require distinctly "human" qualities. For example, jobs for sales professionals are expected to grow in the coming years.
There will also be demand for jobs in technology innovation and roles that include software and application development.
According to the World Economic Forum's Future of Jobs report, the top 10 emerging jobs by 2022 will include:
