AUTOMATION AND ITS EFFECT ON LABOURS

AUTOMATION VS LABOUR

BY ADITYA PANDEY 

Nearly 69 per cent of jobs in India are under threat from automation, as the country, with its relatively young workforce, is set to add 160 million new workers over the next 20 years, a new report showed on Monday.

The main priority for the country, set to reach a working population of 1.1 billion by 2040, will be job creation to accommodate new workers entering the workforce, according to Forrester's 'Future Of Jobs Forecast'.

"India's workforce is young, with an average age of 38, and its working population will grow by 160 million over the next 20 years," said Michael O'Grady, principal forecast analyst at Forrester.

In addition, India's labour force participation rate, which measures the share of the working-age population currently working, has dropped to just 41 per cent, he added.

The working populations in the five largest economies in Asia Pacific -- India, China, South Korea, Australia, and Japan -- are more at risk due to physical robot automation than Europe and North America.

By 2040, 63 million jobs are expected to be lost to automation, with more than 247 million jobs expected to be in jeopardy across industries that are more susceptible to automation, such as construction and agriculture, the report noted.

CHALLENGES

BY NAMAN SEXNA

"To prepare for the changes brought on by automation, the five largest economies in APAC will have to radically rethink their workforce strategies," said O'Grady.

"While each economy faces its own challenges, common focus areas such as hiring more female workers can help offset working population declines. In addition, investing in STEM education, technology workforce training, and protecting the rights of freelance workers will become of utmost importance," he noted.

India, China, South Korea, Australia, and Japan will create 28.5 million new jobs in renewable energy, green buildings, smart cities and smart infrastructure, and professional services by 2040.

But even with the creation of new jobs in areas such as the green economy and information and communications technology (ICT) industries, 13.7 million jobs in the region will be lost to automation across wholesale, retail, transport, accommodation, and leisure sectors.

By 2040, China will see its working population decline by 11 per cent, and 7 per cent of jobs will be lost to automation.

"Job growth in the ICT industry will help offset automation job losses, with 3.8 million additional new jobs created by 2040," said the report.

Due to an aging workforce and the country's low birth rate, between 2020 and 2040, Japan's working population will contract by 19 per cent. By 2050, it is forecasted to decline by almost one-third.

Fascinating Stats and Facts on Jobs Lost To Automation

by RAUSHAN MISHRA

• As many as 30% of jobs will be replaced by automation, especially the boring and repetitive ones.
• 1.5 million people in England are at high risk of losing their jobs to automation, according to the Office for National Statistics (ONS).
• We’re at risk of losing 375 million jobs worldwide by 2030.
• 14 to 80 million U.S. jobs are at risk of being automated.
• The Brookings Institution estimated that 36 million workers will lose their jobs because of AI.
• World Economic Forum says machines will create 58 million new jobs.
• Automation will displace 85 million jobs globally by 2025.
• Manufacturing jobs since 1980 have declined by 3%, while production grew by almost 20%.
• The number of jobs lost to automation by 2030 in the US is set to reach 73 million.
• At over 60%, food preparation is one of the jobs at most risk of automation.
• 14 million robots could exist in China, making it the highest country for manufacturing automation.
• 20.7% of power and IT companies have recruited for at least one robotics-related position in January 2022.
• In 2022, there are over 4 million industrial robots globally. 
• The global medical robots market is expected to reach $12.6 billion by 2023.