Category: Automation Impact on Jobs

Automation is coming for more jobs than you may realize

Automation is coming for more jobs than you may realize

With the rise of artificial intelligence, the future of many workers around the globe is in jeopardy.

According to a new study by McKinsey Global Institute , up to 30 percent of global hours worked could be automated within the next 13 years, reported Axios . The report explained that technological advancements usually ended up creating more jobs — but the short-term effects could be damaging for workers.

“All advanced economies have experienced profound sectoral shifts in employment, first out of agriculture and more recently manufacturing,” McKinsey said. “New technologies have spurred the creation of many more jobs than they destroyed.”However, […]

Axios Future of Work

Welcome back. Please invite your friends and colleagues to join the conversation. Tell me anything on your mind, including what you think about what you are reading here and in the daily stream . Just reply to this email, or reach me at steve@axios.com. Let’s start with … 1 big thing: The occupations of the future

Illustration: Lazaro Gamio / Axios

We know that automation is wiping out whole occupations, but are leading experts correct that the unemployed will eventually shift into new professions created by the vibrant economy? And if so, what are some of these new jobs? 21 […]

As Many as 800 Million Jobs Worldwide Could Vanish by 2030 Due to Automation

As Many as 800 Million Jobs Worldwide Could Vanish by 2030 Due to Automation

iStock.com/Zapp2Photo Automation Could Eliminate 73 Million Jobs in the U.S.

A new report by McKinsey & Company warns that as many as 800 million jobs around the world could vanish as a result of automation by 2030. In the U.S., 73 million jobs could be lost over the next 12 years.

The report, which covers 46 nations and more than 800 occupations, suggests that in about 60% of jobs, one third of activities could be automated. “We estimate that between 400 million and 800 million individuals could be displaced by automation and need to find new jobs by 2030 […]

Robots May Put 800 Million People Out Of A Job By 2030

Robots May Put 800 Million People Out Of A Job By 2030

Back in the 1900s, most of America had its workforce on farms and just enough food was produced to feed a far less populous nation. Now, less than 2 percent of Americans work on farms, because technology has revolutionized the sector. Automation has taken over .

The same applies to plenty of sectors these days, particularly when manual labor is involved. Now, a new study has laid this reality bare. According to a study by management consultancy firm McKinsey, up to one-third of the American workforce (73 million people) may lose their jobs to automation by 2030.

In total, up to […]

A New Study Reports That Nearly 40 Million Workers in the U.S. Will Be Displaced By Technology

A New Study Reports That Nearly 40 Million Workers in the U.S. Will Be Displaced By Technology

In the future, everyone will be employed for 15 minutes. The future of employment on this planet is bleak, according to the analysis by McKinsey Global Institute , which predicts that hundreds of millions of workers across the globe will find themselves out of work due to automation, robotics, artificial intelligence, and other technological innovations by 2030.

In a massive report, McKinsey says that upwards of 375 million workers—38.6 million of those in the U.S.—will be displaced from their jobs. The lucky ones will find new employment opportunities. The unlucky? Well, maaaybe someday we’ll live in a world with basic […]

Oh yes, the robots are definitely coming for our jobs

A study from the McKinsey Global Institute claims that between 400 and 800 million people worldwide could have their jobs replaced by automation by the year 2030, Axios reported Wednesday . For American workers, the study predicts somewhere between 48 and 54 million people would have to change jobs, and more than 70 million employees could be displaced completely.

Advanced economies, like the United States and Germany, are likely to see employment declines in jobs that are done in what the study refers to as "predictable settings." Things like office support, customer interaction, assembly line production, driving, and even food […]

Robots vs. jobs: Report says automation will displace up to 375M workers by 2030

Robots vs. jobs: Report says automation will displace up to 375M workers by 2030

A worker keeps watch on a riveting robot inside the mid-body fuselage of a 777 jet. (Boeing Photo) The latest robot report has bad news for laborers and office support staff, good news for techies and healthcare workers. India looks bright, while Japan could face the toughest stretch.

Those are just some of the takeaways from McKinsey Global Institute’s data-packed analysis of the effects of automation on employment between now and 2030. The bottom line? Hundreds of millions of workers around the world will be displaced due to the revolutions in robotics and artificial intelligence.

“Displaced” is the key term: Many […]

McKinsey: Massive Govt Investment Will Be Needed After Automation Wipes Out Jobs

McKinsey: Massive Govt Investment Will Be Needed After Automation Wipes Out Jobs

Humanoid robots work side by side with employees on the assembly line at a factory of Glory Ltd., a manufacturer of automatic change dispensers, in Kazo, north of Tokyo, Japan, in this July 1, 2015 file photo. REUTERS/Issei Kato/Files A new report from the international consulting firm McKinsey and Co. says heavy government investment in job training, education and unemployment assistance will be needed to mitigate automation’s costs to labor.

The international workforce must be more dynamic and flexible in transitioning from increasingly automated industries to emerging and expanding ones, according to the study .

As many as 800 million jobs […]

Robots coming for 800 million jobs worldwide

Robots coming for 800 million jobs worldwide

But McKinsey warns that efforts must be made by policy makers and business leaders to adapt to changes, in particular mid-career job training in the United Kingdom, with "a focus on robust economic growth and large-scale retraining and re-employment of workers in the coming decade", said James Manyika, chairman and director of the McKinsey Global Institute.

To remain viable, workers must embrace retraining in different fields.

Regardless of whether the ascent of robots is less quick, around 400 million workers could still find themselves displaced by automation and would need to find new jobs over the next 13 years, the McKinsey […]

Up to 700 million jobs to be automated by 2030

Consulting firm McKinsey’s latest jobs report found that up to one-third of work activities could be displaced by 2030, with advanced companies mostly like to be the worst affected due to their higher wage rates and economic incentives to automate as a result.

The firm said that up to 375 million workers would have to switch occupational categories and learn new skills to find employment.

Moreover, it warned that all workers will need to adapt in the future, in order to develop higher educational attainment and spend more time on activities requiring social and emotional skills, creativity, high-level cognitive capabilities and […]