World Economic Forum survey shows 14 million worldwide jobs to disappear in 5 years

Per CNN

The World Economic Forum has just released a survey with regard to the future of jobs amid the rise of technologies like artificial intelligence. In a report based on a survey of over 800 companies, the WEF found that 14 million jobs would be lost in the next five years.

Here are the main findings by the WEF and what they expect to happen by 2027.

69 million jobs will be created
83 million jobs will be lost

It was noted that this would equal 2% of current employment and result in a net loss of 14 million jobs. This comes as numerous factors are affecting the industry.

Aside from AI, it was also noted that there was a shift to renewable energy systems.

With the advancement of AI, new job demands are also expected to be on the rise. These include positions for implementing and managing AI tools, scientists, data analysts, cybersecurity experts and machine learning specialists.

It was noted that the expectation for those positions was that they would increase by 30% by 2027. The WEF predicts that there will be 26 million fewer administrative and record-keeping jobs by that year.

Amid the rise of OpenAI's ChatGPT, it was noted that the artificial intelligence tool could replace multiple jobs. Some highlighted positions included software engineers, data analysts, advertising, teachers, graphic designers, and even customer service agents.

It was noted that, especially when it came to coding, ChatGPT was trained with the help of codes from GitHub, which was owned by one of the major investors of the company, Microsoft.

Goldman Sachs shares a wider range of effects that could happen because of ChatGPT. The firm believes that it could replace 300 million full-time jobs.

This reportedly included positions not just in the US but globally. It was specified that this was due to how certain jobs could be automated with the help of AI.

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