The World Economic Forum just published a 175 page report on the future of jobs (a follow-up from the original 2016 report: Future of Jobs – Employment, Skills, and Workforce Strategy for the 4th Industrial Revolution).
Turns out, the future is bright – and bleak.
- Machines will do more work than humans by 2025, but I guess that’s actually a good thing.
- Ubiquitous high-speed mobile internet access, AI, widespread adoption of big data analytics, and cloud technology combined will positively drive growth from 2018-2022, with machine learning and augmented and virtual reality likewise receiving significant interest and investments.
- The human-machine frontier for existing tasks across industries will shift: 71% of all tasks today are performed by humans, 29% by machines. By 2022, the ratio will be 58:42.
- The changes outlined above are profound, especially for investment managers, many of which are still only exploring the automation of basic back office tasks.
So will your job still exist in five years? Take a look below:
AI, technology and innovation is a specialty session for the CSI member executives this month in Boston, with a multi-hour workshop and open discussion, including AI pioneers giving their input for asset managers.
Don’t miss the tech boat.