AI, robotics and smart technologies will make millions of traditional jobs obsolete, while creating opportunities…
The World Economic Forum has predicted that 14 million jobs will disappear worldwide over the next five years. According to a survey of more than 800 companies, millions of jobs could be lost due to artificial intelligence, automation and robotics. Smart technologies will make many jobs obsolete, the report says, while opening up exciting opportunities in other sectors. Here are the 10 fastest growing occupations and the 10 fastest declining occupations for the next five years, according to the forum jobs future report 2023.
Booming professions
10th: Specialists in digital transformation Workers capable of helping companies succeed in their digital transition will be increasingly sought after.
9th: Farm machinery operators Producing and harvesting food will still require workers to control large machines, at least for the next five years.
8th: Electrical Engineers Skilled electrical engineers who design, create and maintain everything from gadgets to massive infrastructure will remain in high demand.
7th: Robotics Engineers Robots and advanced robotics will replace many jobs once done by humans. The designers and builders of these machines will be highly sought after by companies wishing to reduce labor costs and increase efficiency.
6th: Data Analysts Harnessing and understanding big data is becoming a very lucrative business as the world goes digital and connects to the internet.
5th: Fintech Engineers The continued shift of finance to digital platforms requires fintech engineers.
4th: Information Security Analysts Securing the immense amounts of personal and private data held by businesses and governments has never been more important. Cybersecurity is a public and private imperative.
3rd: Business intelligence analysts Analysts who can leverage data and monetize the opportunities offered by business digitization will be in high demand.
2nd: Sustainability Specialists Jobs for sustainability specialists and environmental protection professionals are expected to increase by 33% and 34% respectively, or approximately 1 million additional jobs.
1st: AI and machine learning specialists Demand for AI and machine learning specialists is expected to increase by 40%, or 1 million jobs, due to the growing use of AI and machine learning in transforming industries .
Professions in decline
10th: Door-to-door vendors, street newspaper vendors and similar workers Once-essential newsstands are expected to decline even more rapidly over the next five years. When was the last time you saw a door-to-door salesman knocking on your door?
9th: Employees of statistics, finance and insurance AI, algorithms and automated systems are already supporting data-driven decisions once handled by humans. This transition should continue and accelerate.
8th: Bureaucrats and civil servants Administrators and bureaucrats working in the halls of government will not be spared from job losses, as automation and systems reduce reliance on humans and seek to make processes more efficient.
7th: Accountants, accounting and payroll employees Traditionally data-driven and data entry jobs are really under threat from the new frontier of automated workplaces.
6th: Inventory management employees Computers, algorithms, and robots have proven to be ultra-efficient in warehouses, taking inventory, moving products, and placing new orders in ways humans cannot.
5th: Administrative and management secretaries Advanced and highly intelligent software has spelled the death knell for many office jobs once considered essential to running a business.
4th: Data Entry Clerks The biggest losses over the next five years are expected to be in administrative jobs, such as data entry clerks.
3rd: Cashiers and counter employees Cashiers, already on the verge of extinction due to automation, are on the verge of extinction.
2nd: Postal Service Employees The postal system has been heavily disrupted by technology and changes in human behavior, so it’s no surprise to see this industry heavily impacted.
1st: Bank tellers It is becoming more and more difficult to find a local bank branch. Banks moved their operations online and reduced the number of frontline workers in their overhead.