Information technology will be a significant driver of job growth in the next few years, according to a new report.
“The Future of Jobs,” published by the World Economic Forum, analyzes the effect of technology on worldwide employment trends, reported TechCrunch.
Cloud-computing technology, mobile Internet, cheaper computing power and large-scale data storage are predicted to be main drivers of employment trends in 2016 and 2017. After 2018, robotics and the Internet of Things are predicted to significantly impact employment.
While these technologies will create jobs, the “speed of change” may overtax the labor force, according to TechCrunch.
The report stated that more than 5.1 million jobs could be lost because of this disruption in the labor market between 2015 and 2020, which most of the jobs lost in office and administration positions, while 2 million jobs could be added in smaller sectors.
According to the report, the world will soon enter a “Fourth Industrial Revolution” driven by an information technology revolution brought on by robotics, advanced hardware and larger-than-ever computing power, reported TechCrunch.
The World Economic Forum asserted that the Fourth Industrial Revolution is evolving at an “exponential rather than linear pace,” and will lead to improvements in efficiency and productivity across global supply chains.