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BW Businessworld

Robots Could Take Up 800 million Jobs By 2030: Mckinsey Report

A new report by Mckinsey has found out that as many as 800 million workers could lose their jobs and replaced due to automation by 2030

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Machine Learning and Artificial Intelligence are raking up the ranks quickly, and machines could well take up quite a few jobs quickly. A new report by Mckinsey has found out that as many as 800 million workers could lose their jobs and replaced due to automation by 2030.

With the advent of software that can respond to customer’s inquiries and robots that can provide services within a flip of a second, mid-level workers will need to upgrade themselves to save their jobs.  

In a study early this year, McKinsey found that about half of all work activities globally have the technological potential to be automated, but the latest report provides a better assessment based on economic, social and technical factors.

Globally, 800 million workers could be displaced and as many as 375 million may need to learn new skills for new occupational categories. Advanced economies such as the U.S. that have higher wages are more vulnerable to the adoption of labour-saving technology.

Also read: 93 Percent Indians Optimistic About Meeting Bots At Their Workplace: Cisco Survey

The consulting company said on Wednesday that both developed and emerging countries will be impacted. Machine operators, fast-food workers and back-office employees include those which will be most affected if automation gathers much pace through the workplace.

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 Global Institute study found.

However, there is some good news for those who might be displaced. There will be jobs for them after the transition, although in many cases they will need to learn new skills to get o with the work. Many such jobs will include health-care providers for aging populations, technology specialists and even gardeners, according to the report.