The Threat Of Technology

A large number of people are vulnerable to job losses resulting from automation and artificial intelligence

India could lose 69% of its jobs to automation, according to a report by the World Bank. China, on the other hand, could lose as much as 77% jobs to robots and automation.

Technology is disrupting the traditional job market in countries. across the Asia Pacific Region (APAC). A recent report by Forrester has named India as one of the five major economies in the APAC region, which is at a high risk of job losses from automation, far more than Europe and North America. The other four countries at high risk are China, South Korea, Australia, and Japan.

The Forrester report titled 'Future Of Jobs Forecast, 2020 To 2040' estimates that the APAC region will lose 63 million jobs to automation by 2040 and over 247 million jobs are at risk in industries adopting automation, such as construction and agriculture. Other industries such as wholesale, retail, transport, accommodation, and leisure sectors could lose 13.7 million jobs.

It does not look good for Indian job seekers. India, which boasts of a young workforce, will add 160 million new workers over the next 20 years, taking the total working population in the country to 1.1 billion by 2040.

The Forrester report points that job losses from automation is a vicious cycle. "A declining working population and rising costs to hire and retain employees will force firms in Asia Pacific to invest more in automation. But that same investment will make it even more undesirable to hire, pushing still more working-age people out of the workforce," the report says.

Another report by the International Labour Organisation (ILO), titled 'Changing Business and Opportunities for Employer and Business Organizations', says that in India, around 52% of activities can be automated.