WEF report warns AI could lead to widespread layoffs, job shifts by 2030
Date
1/13/2025 6:49:01 AM
(MENAFN) The World Economic Forum (WEF) Future of Jobs report, which was released on Wednesday, cautions that the implementation of artificial intelligence might have a severe impact on the global labor market and lead to widespread layoffs in multinational corporations.
According to the report, which polled hundreds of major corporations throughout the globe, 41 percent of organizations intend to reduce their workforce by 2030 in reaction to AI's growing capabilities. Furthermore, in order to improve human-machine collaboration, 77 percent of businesses plan to retrain and upskill their current employees between 2025 and 2030.
According to the estimate, 92 million jobs will be lost and 170 million new ones will be created by the end of the decade. According to the WEF, there will likely be a considerable need for expertise in cybersecurity, big data, and artificial intelligence.
“Trends such as generative AI and rapid technological shifts are upending industries and labor markets, creating both unprecedented opportunities and profound risks,” Till Leopold, the chief of Work, Wages and Job Creation at the WEF, stated.
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