By 2030, 59% of the workforce will need to retrain to maintain their jobs

• According to a new report from the World Economic Forum, automation, economic pressures, and demographic changes will lead to the loss of 92 million jobs by 2030.
• During this period, according to EFE, 41% of employers will reduce their workforce due to the automation of tasks that previously required human intervention, which will affect repetitive and routine jobs.
• For example, the study predicted that graphic designers and administrative employees will see a decline in demand due to artificial intelligence (AI)’s ability to perform similar tasks more efficiently.
• However, the report indicates that during this period, new job opportunities will generate another 170 million positions, resulting in a net increase of 78 million jobs.
• In this regard, demand for technical skills related to AI is expected to grow exponentially and become essential to fill new roles in sectors such as big data development, cybersecurity, and renewable energy. This will make it necessary to retrain and enhance the skills of the current workforce. According to the Forum’s projections, 59% of the workforce will need to retrain by 2030.

What will be the main challenges in the market?
The report highlighted that the skills mismatch will be the primary barrier to business transformation. This means that more than 120 million workers will be at risk of displacement if they do not acquire the proper training. In this line, 63% of employers surveyed by the Forum considered this gap their main obstacle to keeping their operations up to date, and 77% of employers plan to invest in upskilling and reskilling their workforce.

What factors explain these changes in the market?
Technological advances, particularly AI, will be one of the main drivers of change in the global job market. However, it will not be the only factor, as economic and demographic pressures will also have an impact. “Factors such as the rising cost of living, the aging population in high-income countries, and the increasing working-age populations in low-income countries will impact the demand for jobs in sectors such as healthcare and education,” the report stated.

What will be the key skills?
Skills such as creative thinking, resilience, flexibility, and collaboration will continue to be essential, according to the report. The key to success will be to properly combine technical skills with human skills.

Which jobs will need more workers?
The future job market will also be characterized by a significant demand for farmers, truck drivers, delivery workers, nursing professionals, educators, and salespeople.

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Collaboration with Diario El Observador of Montevideo.Adjusted by the Future Lab team.