Indian job market to see 22% churn in 5 yrs; AI, machine learning among top roles: WEF – The Hindu
The Indian job market is estimated to witness 22% churn over the next five years, with top emerging roles coming from AI, machine learning and data segments, a new study showed on May 1.
Globally, the job market churn is estimated at 23%, with 69 million new jobs expected to be created and 83 million eliminated by 2027, the World Economic Forum said in its latest Future of Jobs report.
Also Read | Explained | Will artificial intelligence lead to job displacements?
"Almost a quarter of jobs (23%) are expected to change in the next five years through growth of 10.2% and decline of 12.3% (globally)," the WEF said.
According to the estimates of the 803 companies surveyed for the report, employers anticipate 69 million new jobs to be created and 83 million eliminated among the 673 million jobs corresponding to the dataset, a net decrease of 14 million jobs, or 2% of current employment.
Regarding India, it said 61% of companies think broader applications of ESG (environment, social and governance) standards will drive job growth, followed by increased adoption of new technologies (59%) and broadening digital access (55%).
Also Read | Indias AI penetration factor at 3.09, highest among all G20, OECD countries: Nasscom
Top roles for industry transformation in India would be AI (artificial intelligence) and machine learning specialists, and data analysts and scientists, it added.
The report also found that manufacturing and oil and gas sectors have the highest level of green skill intensity globally, with India, the U.S. and Finland featuring at the top of the list for the oil and gas sector.
Also, more populous economies such as India and China were more positive than the global average when compared with countries' viewpoints on talent availability while hiring.
On the other hand, India figured among the seven countries where job growth was slower for social jobs than non-social jobs.
In India, 97% of respondents said that the preferred source of funding for training was 'funded by organisation' as against the global average of 87%.
The WEF said that macro trends, including the green transition, ESG standards and localisation of supply chains are the leading drivers of job growth globally, with economic challenges, including high inflation, slower economic growth and supply shortages, posing the greatest threat.
Advancing technology adoption and increasing digitisation will cause significant labour market churn, with an overall net positive in job creation, it added.
Also Read | AI boom is dream and nightmare for workers in India, global South
"For people around the world, the past three years have been filled with upheaval and uncertainty for their lives and livelihoods, with COVID-19, geopolitical and economic shifts, and the rapid advancement of AI and other technologies now risks adding more uncertainty, said Saadia Zahidi, Managing Director, World Economic Forum.
"The good news is that there is a clear way forward to ensure resilience. Governments and businesses must invest in supporting the shift to the jobs of the future through the education, reskilling and social support structures that can ensure individuals are at the heart of the future of work," she added.
The survey covered 803 companies collectively employing more than 11.3 million workers in 27 industry clusters and 45 economies from all world regions.
The WEF said technology continues to pose both challenges and opportunities to labour markets, but employers expect most technologies to contribute positively to job creation.
The fastest-growing roles are being driven by technology and digitalisation. Big data ranks at the top among technologies seen to create jobs. The employment of data analysts and scientists, big data specialists, AI machine learning specialists and cybersecurity professionals is expected to grow on average by 30 per cent by 2027.
At the same time, the fastest declining roles are also being driven by technology and digitalisation, with clerical or secretarial roles, including bank tellers, cashiers and data entry clerks expected to decline fastest.
Also, while expectations of the displacement of physical and manual work by machines have decreased, reasoning, communicating and coordinating all traits with a comparative advantage for humans are expected to be more automatable in future.
Artificial intelligence, a key driver of potential algorithmic displacement, is expected to be adopted by nearly 75% of surveyed companies and is expected to lead to high churn with 50% of organisations expecting it to create job growth and 25% anticipating it to result in job losses.
However, the largest absolute gains in jobs will come from education and agriculture. The report found that jobs in the education industry are expected to grow by about 10%, leading to 3 million additional jobs for vocational education teachers and university and higher education teachers.
Jobs for agricultural professionals, especially agricultural equipment operators, graders and sorters, are expected to see a 15-30% increase, leading to an additional 4 million jobs.
Globally, six in 10 workers will require training before 2027, but only half of the employees are seen to have access to adequate training opportunities today.
At the same time, the report estimates that, on average, 44% of an individual worker's skills will need to be updated.
In response to the cost-of-living crisis, 36% of companies recognise that offering higher wages could help them attract talent. Yet, companies are planning to mix both investment and displacement to make their workforce more productive and cost-effective.
Four in five surveyed companies plan to invest in learning and training on the job as well as automating processes in the next five years.
Read the original:
Indian job market to see 22% churn in 5 yrs; AI, machine learning among top roles: WEF - The Hindu
- Open source machine learning systems are highly vulnerable to security threats - TechRadar - December 22nd, 2024 [December 22nd, 2024]
- After the PS5 Pro's less dramatic changes, PlayStation architect Mark Cerny says the next-gen will focus more on CPUs, memory, and machine-learning -... - December 22nd, 2024 [December 22nd, 2024]
- Accelerating LLM Inference on NVIDIA GPUs with ReDrafter - Apple Machine Learning Research - December 22nd, 2024 [December 22nd, 2024]
- Machine learning for the prediction of mortality in patients with sepsis-associated acute kidney injury: a systematic review and meta-analysis - BMC... - December 22nd, 2024 [December 22nd, 2024]
- Machine learning uncovers three osteosarcoma subtypes for targeted treatment - Medical Xpress - December 22nd, 2024 [December 22nd, 2024]
- From Miniatures to Machine Learning: Crafting the VFX of Alien: Romulus - Animation World Network - December 22nd, 2024 [December 22nd, 2024]
- Identification of hub genes, diagnostic model, and immune infiltration in preeclampsia by integrated bioinformatics analysis and machine learning -... - December 22nd, 2024 [December 22nd, 2024]
- This AI Paper from Microsoft and Novartis Introduces Chimera: A Machine Learning Framework for Accurate and Scalable Retrosynthesis Prediction -... - December 18th, 2024 [December 18th, 2024]
- Benefits and Challenges of Integrating AI and Machine Learning into EHR Systems - Healthcare IT Today - December 18th, 2024 [December 18th, 2024]
- The History Of AI: How Machine Learning's Evolution Is Reshaping Everything Around Us - SlashGear - December 18th, 2024 [December 18th, 2024]
- AI and Machine Learning to Enhance Pension Plan Governance and the Investor Experience: New CFA Institute Research - Fintech Finance - December 18th, 2024 [December 18th, 2024]
- Address Common Machine Learning Challenges With Managed MLflow - The New Stack - December 18th, 2024 [December 18th, 2024]
- Machine Learning Used To Classify Fossils Of Extinct Pollen - Offworld Astrobiology Applications? - Astrobiology News - December 18th, 2024 [December 18th, 2024]
- Machine learning model predicts CDK4/6 inhibitor effectiveness in metastatic breast cancer - News-Medical.Net - December 18th, 2024 [December 18th, 2024]
- New Lockheed Martin Subsidiary to Offer Machine Learning Tools to Defense Customers - ExecutiveBiz - December 18th, 2024 [December 18th, 2024]
- How Powerful Will AI and Machine Learning Become? - International Policy Digest - December 18th, 2024 [December 18th, 2024]
- ChatGPT-Assisted Machine Learning for Chronic Disease Classification and Prediction: A Developmental and Validation Study - Cureus - December 18th, 2024 [December 18th, 2024]
- Blood Tests Are Far From Perfect But Machine Learning Could Change That - Inverse - December 18th, 2024 [December 18th, 2024]
- Amazons AGI boss: You dont need a PhD in machine learning to build with AI anymore - Fortune - December 18th, 2024 [December 18th, 2024]
- From Novice to Pro: A Roadmap for Your Machine Learning Career - KDnuggets - December 10th, 2024 [December 10th, 2024]
- Dimension nabs $500M second fund for 'still contrary' intersection of bio and machine learning - Endpoints News - December 10th, 2024 [December 10th, 2024]
- Using Machine Learning to Make A Really Big Detailed Simulation - Astrobites - December 10th, 2024 [December 10th, 2024]
- Driving Business Growth with GreenTomatos Data and Machine Learning Strategy on Generative AI - AWS Blog - December 10th, 2024 [December 10th, 2024]
- Unlocking the power of data analytics and machine learning to drive business performance - WTW - December 10th, 2024 [December 10th, 2024]
- AI and the Ethics of Machine Learning | by Abwahabanjum | Dec, 2024 - Medium - December 10th, 2024 [December 10th, 2024]
- Differentiating Cystic Lesions in the Sellar Region of the Brain Using Artificial Intelligence and Machine Learning for Early Diagnosis: A Prospective... - December 10th, 2024 [December 10th, 2024]
- New Amazon SageMaker AI Innovations Reimagine How Customers Build and Scale Generative AI and Machine Learning Models - Amazon Press Release - December 10th, 2024 [December 10th, 2024]
- What is Machine Learning? 18 Crucial Concepts in AI, ML, and LLMs - Netguru - December 5th, 2024 [December 5th, 2024]
- Machine learning-based prediction of antibiotic resistance in Mycobacterium tuberculosis clinical isolates from Uganda - BMC Infectious Diseases - December 5th, 2024 [December 5th, 2024]
- Interdisciplinary Team Needed to Apply Machine Learning in Epilepsy Surgery: Lara Jehi, MD, MHCDS - Neurology Live - December 5th, 2024 [December 5th, 2024]
- A multimodal machine learning model for the stratification of breast cancer risk - Nature.com - December 5th, 2024 [December 5th, 2024]
- Machine learning based intrusion detection framework for detecting security attacks in internet of things - Nature.com - December 5th, 2024 [December 5th, 2024]
- Machine learning evaluation of a hypertension screening program in a university workforce over five years - Nature.com - December 5th, 2024 [December 5th, 2024]
- Vaultree Introduces VENum Stack: Combining the Power of Machine Learning and Encrypted Data Processing for Secure Innovation - PR Newswire - December 5th, 2024 [December 5th, 2024]
- Direct simulation and machine learning structure identification unravel soft martensitic transformation and twinning dynamics - pnas.org - December 5th, 2024 [December 5th, 2024]
- AI and Machine Learning - Maryland to use AI technology to manage traffic flow - SmartCitiesWorld - December 5th, 2024 [December 5th, 2024]
- Researchers make machine learning breakthrough in lithium-ion tech here's how it could make aging batteries safer - Yahoo! Voices - December 5th, 2024 [December 5th, 2024]
- Integrating IoT and machine learning: Benefits and use cases - TechTarget - December 5th, 2024 [December 5th, 2024]
- Landsat asks industry for artificial intelligence (AI) and machine learning for satellite operations - Military & Aerospace Electronics - December 5th, 2024 [December 5th, 2024]
- Machine learning optimized efficient graphene-based ultra-broadband solar absorber for solar thermal applications - Nature.com - December 5th, 2024 [December 5th, 2024]
- Polymathic AI Releases The Well: 15TB of Machine Learning Datasets Containing Numerical Simulations of a Wide Variety of Spatiotemporal Physical... - December 5th, 2024 [December 5th, 2024]
- Prediction of preterm birth using machine learning: a comprehensive analysis based on large-scale preschool children survey data in Shenzhen of China... - December 5th, 2024 [December 5th, 2024]
- Application of machine learning algorithms to identify serological predictors of COVID-19 severity and outcomes - Nature.com - November 30th, 2024 [November 30th, 2024]
- Predicting the time to get back to work using statistical models and machine learning approaches - BMC Medical Research Methodology - November 30th, 2024 [November 30th, 2024]
- AI and Machine Learning - US releases recommendations for use of AI in critical infrastructure - SmartCitiesWorld - November 30th, 2024 [November 30th, 2024]
- Machine learning-based diagnostic model for stroke in non-neurological intensive care unit patients with acute neurological manifestations -... - November 28th, 2024 [November 28th, 2024]
- Analysis of four long non-coding RNAs for hepatocellular carcinoma screening and prognosis by the aid of machine learning techniques - Nature.com - November 28th, 2024 [November 28th, 2024]
- Evaluation and prediction of the physical properties and quality of Jatob-do-Cerrado seeds processed and stored in different conditions using machine... - November 28th, 2024 [November 28th, 2024]
- Researchers use fitness tracker data and machine learning to detect bipolar disorder mood swings - Medical Xpress - November 28th, 2024 [November 28th, 2024]
- Advances in AI and Machine Learning for Nuclear Applications - Frontiers - November 28th, 2024 [November 28th, 2024]
- Researchers make machine learning breakthrough in lithium-ion tech here's how it could make aging batteries safer - The Cool Down - November 28th, 2024 [November 28th, 2024]
- Svitla Systems Publishes Results of the Study on Machine Learning's Role in Credit Scoring - Newsfile - November 28th, 2024 [November 28th, 2024]
- Predicting poor performance on cognitive tests among older adults using wearable device data and machine learning: a feasibility study - Nature.com - November 28th, 2024 [November 28th, 2024]
- Quantum Machine Learning: Bridging the Future of AI and Quantum Computing - TechBullion - November 28th, 2024 [November 28th, 2024]
- AI and machine learning trends in healthcare - Healthcare Leader - November 28th, 2024 [November 28th, 2024]
- Identification of biomarkers for the diagnosis in colorectal polyps and metabolic dysfunction-associated steatohepatitis (MASH) by bioinformatics... - November 28th, 2024 [November 28th, 2024]
- Revolutionizing Business Systems with Machine Learning: Practical Innovations for the Modern Era - TechBullion - November 28th, 2024 [November 28th, 2024]
- Can AI improve plant-based meats? Using mechanical testing and machine learning to mimic the sensory experience - Phys.org - November 16th, 2024 [November 16th, 2024]
- Machine Learning Reveals Impact of Microbial Load on Gut Health and Disease - Genetic Engineering & Biotechnology News - November 16th, 2024 [November 16th, 2024]
- Machine learning for predicting in-hospital mortality in elderly patients with heart failure combined with hypertension: a multicenter retrospective... - November 16th, 2024 [November 16th, 2024]
- Apple Researchers Propose Cut Cross-Entropy (CCE): A Machine Learning Method that Computes the Cross-Entropy Loss without Materializing the Logits for... - November 16th, 2024 [November 16th, 2024]
- Exploring electron-beam induced modifications of materials with machine-learning assisted high temporal resolution electron microscopy - Nature.com - November 16th, 2024 [November 16th, 2024]
- Facilitated the discovery of new / Co-based superalloys by combining first-principles and machine learning - Nature.com - November 16th, 2024 [November 16th, 2024]
- Thwarting Phishing Attacks with Predictive Analytics and Machine Learning in 2024 - Petri.com - November 16th, 2024 [November 16th, 2024]
- Optoelectronic performance prediction of HgCdTe homojunction photodetector in long wave infrared spectral region using traditional simulations and... - November 16th, 2024 [November 16th, 2024]
- A new approach for sex prediction by evaluating mandibular arch and canine dimensions with machine-learning classifiers and intraoral scanners (a... - November 16th, 2024 [November 16th, 2024]
- AI and Machine Learning - Google and National League of Cities develop AI toolkit - SmartCitiesWorld - November 16th, 2024 [November 16th, 2024]
- Machine learning for the physics of climate - Nature.com - November 14th, 2024 [November 14th, 2024]
- Red Hat acquires tech to lower the cost of machine learning - ComputerWeekly.com - November 14th, 2024 [November 14th, 2024]
- SUU Professor Receives Grant to Develop Machine Learning Certificate - Southern Utah University - November 14th, 2024 [November 14th, 2024]
- Research on the timing for subsequent water flooding in Alkali-Surfactant-Polymer flooding in Daqing Oilfield based on automated machine learning -... - November 14th, 2024 [November 14th, 2024]
- SNPs and blood inflammatory marker featured machine learning for predicting the efficacy of fluorouracil-based chemotherapy in colorectal cancer -... - November 14th, 2024 [November 14th, 2024]
- Speech production under stress for machine learning: multimodal dataset of 79 cases and 8 signals - Nature.com - November 14th, 2024 [November 14th, 2024]
- Xbox Series X Machine Learning Hardware Has Some Use Cases, But Microsoft Never Showed Interest in Doing Anything With It - Wccftech - November 14th, 2024 [November 14th, 2024]
- Get An Introduction to Optimization: With Applications to Machine Learning, 5th Edition for FREE and save $106! - BetaNews - November 14th, 2024 [November 14th, 2024]
- New Study Uses fMRI and Machine Learning to Explore Brain Function - AZoRobotics - November 14th, 2024 [November 14th, 2024]
- Introduction to Machine Learning (ML) | by Venkat | Nov, 2024 - Medium - November 14th, 2024 [November 14th, 2024]
- The future of PC gaming will be AI-driven - AMD confirms machine learning FSR 4 for 2025, launching in Call of Duty: Black Ops 6 - TechRadar - November 4th, 2024 [November 4th, 2024]
- Machine-Learning Platform Gives DoD Ability To ID Threat Network Activity - Defense Innovation Unit - November 4th, 2024 [November 4th, 2024]
- Machine Learning Offers a Water Bill Discount to Wealthy Portlander - Willamette Week - November 4th, 2024 [November 4th, 2024]