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New technologies and the mounting climate crisis are changing the business landscape at an “unprecedented rate,” according to a new report from the World Economic Forum.
Between now and 2027, 69 million jobs will be created worldwide — but 83 million jobs are expected to be cut, resulting in a net reduction of 14 million jobs, the World Economic Forum reports.
Their findings are based largely on a survey of 803 companies employing a total of 11.3 million workers in 45 different economies around the world.
The emergence of generative AI and other intelligent technologies as well as the drive to “go green” will cause some jobs to be in high demand over the next five years, and put others at risk of becoming obsolete.
Here are the 10 jobs companies expect to grow the most over the next five years, according to the World Economic Forum report:
- Artificial intelligence and machine learning specialists
- Sustainability specialists
- Business intelligence analysts
- Information security analysts
- Fintech engineers
- Data analysts and scientists
- Robotics engineers
- Electrical Technology Engineers
- Agricultural equipment operators
- Digital transformation specialists
Demand for AI and machine learning professionals is expected to grow by 40%, adding about a million jobs to the global economy over the next five years, as more companies take advantage of AI to automate processes and better anticipate customer demand, among other uses. .
At the same time, global efforts to reduce carbon emissions including stricter environmental regulations and localization of supply chains have created a “wealth of green jobs” across industries, such as sustainability professionals and renewable energy engineers.
Not surprisingly, many of the fastest-growing roles are in the tech sector, with more than three-quarters of companies surveyed by the World Economic Forum saying they plan to adopt “big data” analytics, cloud computing, artificial intelligence and other emerging technologies into organizations within the next five years. coming.
Coca-Cola, for example, uses artificial intelligence to improve customer service, ordering, and the ChatGPT experience in order to “enhance marketing capabilities and business operations,” according to its latest earnings report.
Other industries besides technology, manufacturing and retail could see significant job growth thanks to new technologies, Saadia Zahidi, managing director of the World Economic Forum, told CNBC’s Steve Sedgwick and Jeff Catmore Monday at the World Economic Forum’s Growth Summit in Geneva. , including education, agriculture and health. Switzerland.
“This is happening in part not because these jobs are insecure, low-paying and low-skilled all over the world,” she explained. “These are higher-skilled, higher-value-added jobs offered by technology in the fields of agriculture and health [and] education.”
The WEF report echoes previous findings from the Bureau of Labor Statistics, which also identified jobs in data and renewable energy as some of the fastest-growing occupations in the United States over the next decade.
Information security analysts and data scientists appeared on both lists, as some of the fastest growing professions between now and 2027 and the most in-demand roles over the next decade.
Both jobs, which typically require a bachelor’s degree, come with six-figure salaries: The median salary for information security analysts in the US is $112,000, while the median wage for data scientists is $103,500, per BLS.
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