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By 2025, 97 million new jobs will be created, according to the World Economic Forum

The World Economic Forum 2020 report on the future of jobs predicts that 50% of workers will need reskilling. For current employees who want to keep their jobs, 40% of their basic skills will change. What will happen to the labor market and what professions will be relevant is reflected in the results of the WEF study.

Machines vs. Humans

The redistribution of current tasks between man and machine is already in full swing. By 2025, companies will share equal scope of work between humans and machines. Algorithms and machines will process and search for information. They will perform administrative tasks and some types of traditional manual labor. Instead, tasks that require management, consulting, decision-making, analysis, communication, and interaction skills will be left to humans.

What comes and what goes with the development of technology?

The total number of disappearing professions will exceed the number of professions of the future. However, unlike in previous years, jobs are shrinking faster than they are being created. Employers expect that by 2025, the share of unsolicited occupations will decrease from 15.4% to 9% (a drop of 6.4%), and the number of new ones will increase from 7.8% to 13.5% ( 5.7% growth) from the total number of employees of the respondent companies.

WEF researchers estimate that the implementation of new technologies and the redistribution of work between humans and machines will eliminate 85 million jobs. Instead, 97 million new roles will appear. They will be more adapted to the new technologies.

There is a growing demand for data analysts, AI and machine learning specialists, robotics engineers, and software developers. Also, specialists in digital transformation are much needed.

At the same time, demand is high for employers for process automation specialists, information security analysts, and Internet of Things specialists. The emergence of these positions indicates the acceleration of the automation process, as well as the growing risks of cybersecurity.

Occupations that will become increasingly unnecessary in the next four years include accountants, secretaries, cashiers, sales agents, warehouse and factory workers, and business service managers.

More and more people are looking for work in radically new to them areas of activity. 50% of people who came to the field of AI and data processing had previously worked in completely different fields. If you take the sales area, this share is 75%. In content creation it’s 72%, while for engineering it’s 67%.

Some professions of the future do not require an exact match of professional skills. These include digital marketers, growth managers, digital professionals, SMM managers, copywriters, and other marketing and content professionals. But the switch in the field of human resources and culture, as well as data and artificial intelligence, requires an almost complete correspondence of skills between the original and the new profession.

What skills are in demand?

Companies are having a hard time implementing new technologies due to a lack of qualified specialists in the local labor market. In the absence of ready-made talent, by 2025, employers are expected to offer reskilling and upskilling to just over 70% of their employees. However, the involvement of employees in these courses trails behind. Only 42% of people will take advantage of reskilling and upskilling opportunities with the support of their employer.

The lack of qualified specialists is more acute in new professions. Difficulties arise when finding data analysis specialists, as well as specialists in artificial intelligence and machine learning, and software developers.

The demand for cross-functional skills is growing. The main ones include critical thinking and analysis, problem-solving, self-management, and in particular, active learning, psychological resilience, stress resilience, and flexibility.

Take your next step to the future career, join Beetroot Academy!

Daria Diadenko