14 million jobs set to vanish worldwide by 2028
A new report from the World Economic Forum (WEF) predicts that the global job market will experience significant disruption over the next five years.
The report surveyed over 800 companies and found that as the economy weakens and companies adopt more technologies, such as artificial intelligence (AI), 83 million positions will be eliminated and 69 million new jobs will be created by 2027.
This will result in a net loss of 14 million jobs, equivalent to 2% of current employment.
The shift to renewable energy systems is expected to generate jobs, but slower economic growth and high inflation will drive losses.
The deployment of AI will also serve as both a positive and a negative force, with the proliferation of AI tools creating new jobs but also replacing humans in some roles.
The WEF predicts there could be 26 million fewer record-keeping and administrative jobs by 2027.