We live In an era being driven by rapid advances in IoT, AI and Virtual Reality. The question that arises constantly as a result of these is – “what does this mean for jobs, skills and wages today, and in the future?” McKinsey has conducted some new research which assesses the number of jobs lost versus the number of jobs gained under different scenarios through 2030. This new research conducted in November of 2017 augments the January 2017 report on automation that McKinsey Global Institute revealed a few months back. Jobs lost, jobs gained: Workforce transitions in a time of automation, assesses the number and types of jobs that might be created under different scenarios through 2030 and compares that to the jobs that could be lost to automation.
The newly released results reveal a broad array of potential shifts in occupations in the years ahead and predict important implications for workforce skills and wages. Their most important finding is that while there may be enough work to maintain full employment to 2030 under almost every scenario, these transitions will not be without their significant challenges.
The technology-driven world in which we live is a world filled with promise but also challenges. Cars that drive themselves, machines that read X-rays, and algorithms that respond to customer-service inquiries are all manifestations of powerful new forms of automation. Yet even as these technologies increase productivity and improve our lives, their use will substitute for some work activities humans currently perform—a development that has sparked much public concern.