World Economic Forum just dropped a 296-page report on the Future of Jobs.
I created a TL;DR of my top learnings to save you time.
Challenges:
1. Main factors that are likely to cause job destruction: decrease in economic growth, shortage of supplies, increase in the cost of inputs, and an increase in the cost of living for consumers.
2. The fastest declining roles are administrative roles, with Bank Tellers, Postal Service, Cashiers, Ticket, and Data Entry Clerks - driven by digitalization and automation.
3. 44% of employees' skills will be disrupted in the next five years, with cognitive skills experiencing the most rapid growth in importance.
4. By 2027, 60% of workers will need training, but currently, only half of them have sufficient access to training opportunities.
Opportunities:
1. Over 85% of surveyed organizations see embracing new technologies and expanding digital access as the top transformational trends.
2. Technology adoption will focus on big data, cloud computing, and AI, with over 75% of companies planning to adopt them in the next five years.
3. 86% of surveyed organizations expect to integrate digital platforms and apps, reflecting the digitalization of commerce and trade.
4. The fastest-growing jobs include AI and Machine Learning Specialists at the forefront, followed by Sustainability Specialists, Business Intelligence Analysts, and Information Security Analysts.
5. Top 5 core skills: (1) Analytical thinking; (2) Creative thinking; (3) Resilience, flexibility, and agility; (4) Motivation and self-awareness; (5) Curiosity and lifelong learning.
6. Technologies are anticipated to have a net positive effect on jobs in the next five years, with big data analytics, environmental management, and cybersecurity being the primary growth drivers.
