Technology revolution threatens jobs

More than 7 million jobs are at risk in the world’s largest economies in the next five years as technological advances in fields such as robotics and 3D printing transform the world of work, The Guardian reported.

According to a report into the impact of the so-called ”fourth industrial revolution”, women will lose out in the workplace as they are less likely to be working in areas where the adoption of new technology will create jobs.

The report is published by the World Economic Forum ahead of its annual meeting in Davos, which starts on Tuesday and where one of the major themes is the fourth industrial revolution.

The greatest loss of jobs will be white collar and administrative roles although the WEF survey predicts this will partially be offset by the creation of roles in areas such as computing, maths, architecture and engineering.

Heathcare is expected to suffer the highest number of job losses in the next five years, followed jointly by energy and financial services. The industry expected to create the most jobs is information and communication technology, followed by professional services and media, entertainment and information professionals.

The report argued that because women are less likely to be employed in the areas where jobs will be created, they will lose out. It said: “The burden of job losses seems to fall equally on women (48%) and men (52%). However, given that men represent a larger share of the overall job market than women, this even spread translates into a widening of the employment gender gap, with women losing five jobs for every job gained compared with men losing three jobs for every job gained.”

The report was compiled after interviews with human resources professionals in 15 of the world’s largest economies, including Australia, Brazil, China, France, Germany, India, Italy, Japan, Mexico, South Africa, Turkey, the UK and the US. Together, these economies account for 65% of the global workforce.