Job Displacement
Hyperautomation, like previous waves of automation, is expected to displace a significant number of jobs, especially in industries that rely on routine tasks. This trend is further accelerated by the rapid advancements in artificial intelligence, robotics, and machine learning.
According to the World Economic Forum’s (WEF) Future of Jobs Report 2023, 85 million jobs are projected to be displaced by 2025 due to increasing automation.
The report also highlights that while automation will displace some roles, it will also create new job opportunities, especially in areas such as software development, cybersecurity, and data analysis.
Occupations such as data entry clerks, factory workers, and routine administrative roles are highly vulnerable.
In response to this impending disruption, reskilling and upskilling programs are becoming increasingly crucial to help workers transition to new roles.
A study by the Brookings Institution found that 25% of jobs in the U.S.
and more than 70% of the tasks involved in these jobs can be automated to some extent,
are at high risk of automation, particularly those in manufacturing, transportation, and food services, where tasks can be easily codified and mechanized.
On the contrary, jobs in healthcare, education, and creative industries are deemed to be less susceptible to automation due to their reliance on human interaction and creativity.