The adoption of new technologies and automation will likely lead to job losses in some areas, history has shown us that these changes can also create new opportunities and industries that ultimately lead to job growth.

WEF — which hosts a gathering of global leaders in Davos, Switzerland, every year — found that 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.

It is true that as technology continues to advance, many jobs may become automated, leading to job loss in certain industries. However, the emergence of new technologies and industries is also creating new job opportunities. As the report suggests, emerging areas such as big data analytics, management technologies, and cybersecurity are expected to see significant job growth in the coming years.

It is important for workers to stay up-to-date with the latest trends and technologies in their respective industries in order to remain competitive in the job market. Additionally, education and training programs can help workers develop new skills and adapt to the changing job market.

While the impact of technology on the job market is a valid concern, it is also important to recognize that technology has the potential to increase efficiency, reduce costs, and improve the overall quality of products and services. It is important to strike a balance between technological progress and job security, while also ensuring that workers have the necessary skills and support to thrive in the new economy.

As machines take over routine tasks, employees will need to develop new skills that can’t be easily automated, such as critical thinking, creativity, and problem-solving.

What do you think are the most important skills for employees to develop in order to stay relevant in this new era of work?

How can companies support their employees in developing these skills?