Fourth Industrial Revolution Coming

A new study on the “Future of Jobs” by the World Economic Forum at Davos claims a Fourth Industrial Revolution is Coming.

The Fourth Industrial Revolution includes developments artificial intelligence, robotics, nanotechnology, 3-D printing, genetics, and biotechnology.

Although no industrial revolution has ever destroyed jobs, the study concludes a net 5.1 million jobs will vanish in the world’s 15 leading countries. Those countries account for roughly two-thirds of the global workforce.

The report is a 167 page PDF slog. Here are a couple of tables I created from the report data.

Job Family Losers 

Job Family Losers Job Losses in Thousands Office and Administrative 4,759 Manufacturing and Production 1,609 Construction and Extraction 497 Arts, Design, Sports, Media 151 Legal 109 Installation and Maintenance 40 Total 7,165

Job Family Gainers 
 

Job Family Gainers Gains in Thousands Business and Financial Operations 492 Management 416 Computer and Mathematical 405 Architecture and Engineering 339 Sales and Related 303 Education and Training 66 Total 2,021

I understand the losses, at least part of them. But gains in financial operations? 

Everything Rosy but Healthcare

Curiously, the following chart from the report makes everything look rosy except healthcare. 

I don’t accept that chart, at least for the implied reasons. Yet, after boomers die off en masse, I foresee all kinds of health-related jobs will vanish until the next retirement boom hits.

Trucks and Taxis

What about truck and taxi drivers? I expect millions of truck hauling and taxi jobs will vanish soon, in the USA alone, by 2025.

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