What Does the Future of Jobs Report Say About the Business World in 2025?
Technology forms the future of work. We have come a long way from the technical leap made possible by the internet's development, particularly in the 1990s, to the artificial intelligence that now dominates our agenda. But, as passed each technological milestone, occupations had to be changed. Today, we are witnessing Covid-19's dramatic transformation. Likewise, we can observe that the epidemic has accelerated the pace of technological change.
The World Economic Forum's (WEF) Future of Jobs report highlights the transformation effected by the epidemic and the economic world that awaits us in 2025. The information includes in-depth analyses of 15 sectors and 26 developed and developing countries.
Covid-19 reshapes jobs and skills.
The business world has moved to remote working or a hybrid model as a result of the pandemic. However, we have noticed that many businesses are inexperienced with remote work during this time. The main reason for this was that implementing new functioning models was a time-consuming process. After the pandemic, more than 80% of the executives surveyed said they would increase digitization and establish remote working methods. In working situations where distances rise, and the capacity to adjust swiftly to changing conditions is required, being nimble is essential.
Unemployment was, obviously, one of the most critical concerns during the pandemic. On a global basis, we saw a rapid rise in unemployment in 2020. According to the report, the Covid-19 pandemic and the world's accelerated technological development would overwhelmingly harm the poor, women, and young males.
Machines can perform man's work. But, is it able to take the place of a human?
According to the Future of Jobs report, jobs will be shared equally between machines and humans by 2025. As a result, automation and digitalization technologies are gaining impulse in the workplace. This situation is also significant in terms of business costs. However, in decision-making, communication, and management, machines are not yet able to take over. In this context, it's important to note that emotional intelligence will become more critical.
Eighty-five million jobs are expected to be lost in the next four years as machines displace humans. So, are we going to be unemployed? For the time being, the answer is no. Because technological change is rapid, new career opportunities and professions are emerging. The shift we are witnessing will result in the creation of 97 million new line of work. Data analysts, artificial intelligence and machine learning, and prominent data specialists are among the jobs whose demand is expected to rise in the coming years. Almost all future employment will rely on the capacity to adapt and use new technologies.
According to the report, employees must enhance their skills in a shorter amount of time than prior generations. It is vital to keep up with the pace of change. Because it is estimated that 40% of our basic abilities will need to be updated in the next four years, and 50% of employees across all occupational groupings will need to retrain. Analytical thinking, active learning, complex problem-solving ability, and critical thinking skills will be in high demand in 2025. Creativity, adaptability, and stress tolerance will be necessary as well.
According to the report's executives, cloud computing, big data, and e-commerce will continue to rise rapidly in technological change. Furthermore, organizations that invest in developing their employees' talents will set themselves apart from the opponents.