AI, Automation to Significantly Disrupt Global Labor Markets Within 5 Years

A survey found that nearly 25% of jobs will change or be displaced over the next five years due to AI and automation.
AI technologies will eliminate an estimated 26 million administrative and clerical jobs while creating new jobs in other areas like AI, machine learning, and cybersecurity.
Although new technologies like AI are creating jobs, they are eliminating more jobs than creating resulting in a net loss of 14 million jobs over the next five years according to estimates.
Employers expect to create 69 million new jobs by 2027 but eliminate 83 million existing jobs according to the survey by the World Economic Forum.
Employees will require significant retraining and upskilling to adapt to the fast changes with only about 50% of the workforce currently having access to necessary training.