The World Economic Forum (WEF) has suggested that the rise of machines, robots and algorithms will create double the number of jobs that it will displace.
A new report has said that the rise of new technologies will displace an estimated 75 million jobs but will create a further 133 million jobs globally over the next decade.
Despite the findings, the chairman of the WEF still urged for greater investment in training and education to help employees adapt to the changes.
“[This] is a call to action to governments, businesses, educators and individuals alike to take advantage of a rapidly closing window to create a new future of good work for all,” wrote Klaus Schwab in the report.
“Workforce transformations are no longer an aspect of the distant future. As shown in the five-year outlook of this report, these transformations are a feature of today’s workplaces and people’s current livelihoods and are set to continue in the near term.”
“We hope this report is a call to action to governments, businesses, educators and individuals alike to take advantage of a rapidly closing window to create a new future of good work for all.”
Those employees at highest risk of being displaced are white-collar workers who work in accounting, data entry and payroll services.
Whilst robots are set to create many jobs over the next decade, a study of workers by the Fabian Society and the Community trade union found that over six million employees in the UK are worried their jobs will be replaced by machines.
The online retailer, Shop Direct, said that 2,000 of its employees are at risk of being lost due to automation as the group moves to a new distribution centre.
The Bank of England has warned that up to 15 million jobs across the UK could be under threat from automation.