Posted by: bluesyemre | January 2, 2017

47% of Jobs will disappear in the next 25 years, according to #OxfordUniversity

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The table below ranks occupations according to their probability of computerisation (from least- to most-computerisable). Those occupations used as training data are labelled as either ‘0’ (not computerisable) or ‘1’ (computerisable), respectively. There are 70 such occupations, 10 percent of the total number of occupations.

 

The Trump campaign ran on bringing jobs back to American shores, although mechanization has been the biggest reason for manufacturing jobs’ disappearance. Similar losses have led to populist movements in several other countries. But instead of a pro-job growth future, economists across the board predict further losses as AI, robotics, and other technologies continue to be ushered in. What is up for debate is how quickly this is likely to occur.

Now, an expert at the Wharton School of Business at the University of Pennsylvania is ringing the alarm bells. According to Art Bilger, venture capitalist and board member at the business school, all the developed nations on earth will see job loss rates of up to 47% within the next 25 years, according to a recent Oxford study. “No government is prepared,”The Economist reports. These include blue and white collar jobs. So far, the loss has been restricted to the blue collar variety, particularly in manufacturing.

To combat “structural unemployment” and the terrible blow it is bound to deal the American people, Bilger has formed a nonprofit called Working Nation, whose mission it is to warn the public and to help make plans to safeguard them from this worrisome trend. Not only is the entire concept of employment about to change in a dramatic fashion, the trend is irreversible. The venture capitalist called on corporations, academia, government, and nonprofits to cooperate in modernizing our workforce.

To be clear, mechanization has always cost us jobs. The mechanical loom for instance put weavers out of business. But it’s also created jobs. Mechanics had to keep the machines going, machinists had to make parts for them, and workers had to attend to them, and so on. A lot of times those in one profession could pivot to another. At the beginning of the 20thcentury for instance, automobiles were putting blacksmiths out of business. Who needed horseshoes anymore? But they soon became mechanics. And who was better suited?

computer

The future of employment: how susceptible are jobs to computerisation?

47% Of All Jobs Will Be Automated By 2034, And ‘No Government Is Prepared’ Says Economist

http://bigthink.com/philip-perry/47-of-jobs-in-the-next-25-years-will-disappear-according-to-oxford-university


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