February 23, 2024

14 million jobs worldwide will vanish in the next 5 years

 Recent layoffs in big companies? Like Google, Amazon, META for Facebook, Apple, CISCO and Microsoft? How about other small companies such as SNAP, UBER, IBM, SAP, Dell, Salesforce etc. It is due to Artificial intelligence - AI or ChatGPT, human jobs will be dwindling.

Huge disruptions will rock the global job market over the next five years as the economy weakens and companies boost the adoption of technologies such as artificial intelligence.

That finding comes from the World Economic Forum, a report based on surveys of more than 800 companies. Per the report,employers expect to create 69 million new jobs by 2027 and eliminate 83 million positions. That will result in a net loss of 14 million jobs, equivalent to 2% of current employment. Many factors will feed labor market churn during that period. The shift to renewable energy systems will be a powerful engine for generating jobs, while slower economic growth and high inflation will drive losses. The rush to deploy artificial intelligence, meanwhile, will serve as both a positive and a negative force.

Track Live Layoff:  Tech Layoff Tracker and Startup Layoff Lists