Your JOB Won't Exist by 2027 — Breakdown by tbh

[00:00:00] Speaker 1: The world as we know it is changing really really fast. A lot of creators on the internet are throwing random opinions as to what the future might look like. There's somebody saying AI will take over creative jobs. Then there's somebody else saying AI is going to take over software developer roles. There's this massive debate on what the future holds, especially what the future of jobs is going to look like. It's just all over the internet from Instagram to X to Reddit to YouTube. There's definitely some sensible opinions out there but most of them are just random. While most people think that we are living through another technological innovation like the internet, we are not. I'm here today to tell you that we are witnessing a change that would make the internet revolution seem tiny. While the internet was disruptive, it allowed people time to adapt. The internet boom happened in the 1990s and it took over 20 to 30 years for tech startups like Flipkart, Zerodha, CRED to arrive in India. Look, if you clicked on this video then you already probably know all this. You're looking for answers. You're looking to find out what the future of jobs would look like. What are the skills you need to have to adapt to this future? Well, that's exactly what we're going to do in the next 10 minutes. So let's get started. Today, I have with me a report. A report from the World Economic Forum. The Future of Jobs Report 2025. This report is broken down into five parts. Drivers of labor market transformation, which is the macro trends. Jobs outlook. Job growth and job loss. Skills outlook. Expected skill disruptors. What is going to drive this disruption? And upskilling strategies. Workforce strategies. How to improve the talent availability. Region, economy and industry insights. Welcome to Breakdown by TBH. A series where we break down the most important reports and topics making it extremely easy for you to understand. Coming to the first one. Macro trends. Most of the employers around the globe, about 60 percent, expect broadening digital access to transform their business. The most important than any other trend. It seems like this growing digital access is a critical enabler for new technologies to transform the labor market from 2025 to 2030. Of the nine technologies, three stand out as being expected to have the greatest impact. Robots and autonomous systems are expected to transform 58 percent of employers' business. While energy generation and storage technologies are expected to transform 41 percent. But it is artificial intelligence and information processing technologies that are expected to have the biggest impact, with 86 percent of respondents expecting these technologies to transform their business by 2030. Generative AI or Gen AI in particular has witnessed a rapid surge in both investment and adoption across various sectors. Since the release of ChatGPT in November 2022, investment flows into AI have increased nearly eight times. The influx of capital has been accompanied by investment in the physical infrastructure needed to support these emerging technologies, including servers and energy generation plants. Accordingly, the demand for Gen AI skills by both businesses and individuals has also grown significantly. The IT sector seems to be leading the way in AI adoption, while industries such as construction are lagging behind. This disparity mirrors broader economic trends too, with advanced and middle-income economies like the US and China experiencing massive adoption of Gen AI technologies among individual users. While low-income economies like a few African, Southeast Asian, and South American countries can be seen making minimal use of this technology. Coming to robots, while currently they are seen as less transformative when compared to Gen AI, robots and autonomous systems have seen steady growth of around 5-7% annually since 2020. In 2023, global average robot density reached 162 units per 10,000 employees, double the number measured just 7 years ago from 81. Currently, robot installations are heavily concentrated with 80% of installations occurring in China, Japan, US, the Republic of Korea, and Germany. But almost no installations in Africa, Central Asia, and the Middle Eastern regions. Other economic trends like inflation, political tensions, and decrease in percentage of working population seem to be of big concern in other countries. But not so much for us to worry about in India, as we seem to be all well set with a major percentage of people in the country who are soon going to be of working population. Another global macro trend affecting the job market is the transition to green energy. With that, we come to the second part of the report, the jobs outlook. This section of the future of jobs report 2025, analyzes how employers expect various types of jobs to change in response to the five macro trends that we just discussed. This section combines survey data with employment data from the international labor organization to estimate job creation and displacement. Here's a breakdown of the key aspects of the job evolution. Overall job market churn. The report projects a significant churn of 22% in the labor market by 2030, which represents the combined effect of new job creation and job displacement due to the identified macro trends. This churn includes the creation of an estimated 170 million new jobs, 14% of current employment, and the displacement of 92 million current jobs, that is 8% of current employment, resulting in a net increase of 78 million jobs. The report notes that the survey data is a subset of total employment data, and the conclusions should be seen as insights into specific segments of the global workforce, not as comprehensive. Growing job roles. The report identifies several job roles that are expected to grow largely driven by technological advancements. Some of the leading roles that are projected to increase include data specialists. These roles are essential for managing and analyzing the increasing amounts of data generated by businesses. FinTech engineers. These professionals are crucial for developing and maintaining financial technology systems. AI and machine learning specialists. The growing reliance of AI and machine learning technologies drives the demand for these specialists. Software and application developers. These roles are needed to create and maintain software systems and applications. Sustainability specialists. The green transition is driving demand for professionals who can help businesses become more sustainable. Business intelligent analysts. These professionals are needed to analyze business data and to make better decisions. Robotics engineer. These specialists design, build, and maintain robots and autonomous systems. As you can see, software engineer roles aren't actually dying. They're actually going to be predominantly of more demand. Let's get to the next one. Here are a few declining job roles. Simultaneously, the report indicates that several job roles are expected to decline due to automation and other factors. These roles include data entry clerks. Automation of data entry processes leads to a decrease in the need for these workers. Cashiers and ticket clerks. Self-checkout and online ticketing systems are reducing the need for these positions. Bank tellers and related clerks. As more banking services move online, demand for banking tellers is declining rapidly. Postal service clerks. The reduction in mail volume decreases the need for these positions. Clerical and secretarial works. These roles are also projected to see large net job decline due to the technological advancements. Administrative assistants and executive secretaries. The report indicates a decline in these roles across different regions. Here's an impact of the macro trends on employment. Technological change is the most significant factor with broadening digital access projected to create 19 million jobs and displays 9 million. AI and information processing are expected to create 11 million jobs while displacing 9 million. Geoeconomic fragmentation is expected to create a net of 5 million jobs, mainly in the logistics, security and strategy roles. The green transition is expected to create a net of 1.8 million jobs. Economic uncertainty is projected to a net negative for job creation, with job losses expected to outweigh job gains. Demographic shifts also project to be a net positive for job creation with 3.5 million jobs gained. Jobs driven by multiple trends. Some roles are growing due to combination of the five macro trends. These include building framers, finishers and related trades workers, light truck or delivery service drivers, car, van and motorcycle drivers, general and operations managers, social work and counseling professionals, shifting human machine frontier. The report highlights the increasing use of technology with the share of tasks done by people expected to decrease from 68% to 44% by 2030. In contrast, the share of tasks done by people expected to decrease from 68% to 44% by 2030. In contrast, the share of tasks done by people expected to decrease from 68% to 44% by 2030. In contrast, the share of tasks done by people expected to decrease from 68% to 44% by 2030. In contrast, the share of tasks done by technology is expected to increase from 32% to 46% skill transformation. This section of the report focuses on how the skills required by employers are changing due to the five macro trends impacting the labor market. Technological change, the green transition, economic uncertainty, geoeconomic fragmentation and demographic shifts. The report emphasizes that a significant portion of current skills will need to evolve by 2030. Here are the key aspects of skill transformation. Shifting skill importance. Shifting skill importance. The report indicates that 37% of the on-the-job skills are expected to change by 2030. Technological skills, particularly in AI and big data, are projected to grow in importance more rapidly than any other new skill type. Networks and cyber security and technological literacy are also rapidly gaining importance. These technological skills are complemented by a growing need for creative thinking and socio-economic skills, such as resilience, flexibility, agility, curiosity, and and lifelong learning. Skills in growing versus declining jobs. The report notes that a diverse set of skills is essential for navigating the changing workforce. An analysis of skills associated with growing jobs compared to declining ones reveals opportunities for enabling job transitions. The importance gap measures how essential a skill is for growing jobs, while the proficiency gap indicates the level of proficiency needed. These gaps underscore the need for reskilling and upskilling of help workers transition to roles that blend technical expertise with human-centered capabilities. Here are the core skills for 2025. Resilience, flexibility, and agility, analytical thinking, leadership, and social influence, creative thinking, curiosity, and lifelong learning, motivation, and self-awareness, empathy, and active listening. Skills of increasing use by 2030. This report also highlights a set of skills that are expected to increase in demand by 2030. AI and big data, technological literacy, networks, and cyber security, and cybersecurity, resilience, flexibility, and agility, curiosity, and lifelong learning, creative thinking, leadership, and social influence. Generative AI and human-centered skills. While AI is rapidly advancing, the report emphasizes the importance of human-centered skills. Although Gen AI has the capacity to substitute human skills to varying degrees, none of the 2,800 skills assessed were determined to have a very high capacity to be completely replaced by AI. Now this graph categorizes skills based on their substitutability by AI, showing that many skills, particularly those involving complex problem-solving and physical presence have low to moderate substitution capacity. Human-centered skills, therefore, remain critical in the age of AI. Regional variations. The report presents data from various economics around the world, showcasing the diversity in how skills are evolving across different regions and countries. For example, the skills of increasing use by 2030 vary by country. With some prioritizing AI and big data, while others emphasizing creative thinking, technological literacy, or networks and cyber security. Similarly, core skills of 2025 and upskilling and reskilling outlooks also vary across the different countries and regions. Industry-specific needs. The transformation of skills also vary significantly across industries. For example, the supply chain and transportation industry has already invested significantly in reskilling and upskilling, with 57% of employees completing training programs. Industries also vary in their core skills and skills of increasing use by 2030. The importance of continuous learning, reskilling, and upskilling to equip workers with the necessary competencies for the future of work and AI and big data, technology, and technology. literacy, networks, and cybersecurity, and cybersecurity, and cybersecurity, and cybersecurity, and cybersecurity. Resilience, flexibility and agility, and agility, curiosity, and life-long learning are skills that will be of increasing importance in the future. Workforce practices. [00:11:52] Speaker ?: This section of the report explores how employers are adapting their strategies in response to the macro trends shaped by 2030. [00:11:52] Speaker 1: The importance of continuous learning, reskilling, and upskilling to equip workers with the necessary competencies for the future of work and AI and big data. The importance of artificial intelligence. [00:12:02] Speaker ?: It focuses on key areas such as talent availability, business practices, and integration of technology with human labor. [00:12:02] Speaker 1: Now, here are the key areas of data. Data, technological literacy, networks, and cybersecurity, and cybersecurity. Creative thinking. Resilience, flexibility, and agility. Curiosity, and lifelong learning are skills that will be of increasing importance in the future. Workforce practices. This section of the report explores how employers are adapting their strategies in response to the macro trends shaping the future of work. It focuses on key areas such as talent availability, business practices, and integration of technology with human labor. Now, here are the key aspects of workforce practices discussed in the report. Talent availability. A major concern for employers is ensuring they have access to the talent they need. The report notes that supporting employee health and well-being has become the top priority for employers to increase talent availability. This practice has risen from ninth place in the 2023 report to first place in 2024, with 64% of employers viewing it as a promising approach. Other important business practices to improve talent availability include providing effective reskilling and upskilling opportunities and improving talent progression and promotion processes. Workforce strategies. In response to the changes driven by macro trends, employers are adopting various workforce strategies. These include upskilling the workforce. This is the most commonly adopted strategy with 85% of employers planning to upskill their employers. Accelerating automation. 73% of employers plan to accelerate the automation of tasks and processes. Hiring staff with new skills. 70% of employers plan to hire new staff with emerging skills. Complementing and augmenting the workforce with new technologies. 63% of employers plan to use new technologies to complement and augment their workforce. Transitioning existing staff to new jobs. 51% of employers plan to transition existing staff to new or evolving roles. Reducing staff. 41% of employers plan to reduce staff whose skills are becoming less relevant. Business practices for talent availability. Several business practices are highlighted as effective for improving talent availability. These include supporting employee health and well-being, which is the top priority for employers. Providing effective reskilling and upskilling programs. Improving talent progression and promotion processes. Offering higher wages. Tapping into diverse talent pools. The shifting human technological relationship. The report explores the changing relationship between humans and technologies in the workplace. It notes a shift in the share of tasks completed by humans with a decrease from 68% to 44% and an increase in tasks done by technology by 2030. The report also indicates that employers are leveraging technology to automate and augment workforce capabilities. Training and Development. The report analyzes the expected outcomes from investing in training programs. With the majority of employers expecting to enhance productivity, improve competitiveness, and improve talent retention. Many companies also expect training programs to transition existing employees to new roles. Increasing talent mobility, attract new talent, enhance company reputation, and increase talent mobility across geographies. Many companies are using upskilling and reskilling as strategies to manage the changing demand for skills. Diversity, Equity, and Inclusion. The report highlights a growing emphasis on DEI measures, with 27% of employers planning to implement targeted recruitment, retention, and progression initiatives. There is also a rising trend in setting DEI goals and conducting pay equity reviews. Many companies are beginning to embed DEI goals and solutions across their supply chains. Wage strategies. We can also see that workers' productivity and performance are the most significant factors influencing wage policies, followed by the need to retain talent. Globally, 77% of employers cite productivity and performance as a factor when designing wage strategies. Smaller companies also exhibit higher expectations regarding growth of wages as a share of total revenues. With 57% of employers with fewer than 1,000 employees anticipating an increasing in wage share. Regional and industry variation. Workforce strategies vary by region and industry. For example, in Hong Kong, 76% of companies plan to augment their workforce with new technologies. While in Malaysia, 35% of employers are considering short courses in online certifications when assessing candidates. Barriers to transformation. The report also highlights several barriers to organizational transformation. With skill gaps in the labor market being a significant challenge. Other barriers include outdated regulatory frameworks, resistance to change, and inability to attract talent. Well, there you have it. That is the conclusion of the Future of Jobs Report 2025. If you enjoyed the breakdown of this report, don't forget to like the video and smash that subscribe button. Until next time. Bye-bye. you