According to the World Economic Forum (WEF), the Fourth Industrial Revolution is interacting with other socio-economic and demographic factors to create a perfect storm of business model change in all industries, resulting in major disruptions to labor markets.
New categories of jobs will emerge, partly or wholly displacing others. The skillsets required in both old and new occupations will change in most industries and transform how and where people work.
It may also affect female and male workers differently and transform the dynamics of the industry gender gap.
As technological breakthroughs rapidly shift the frontier between the work tasks performed by humans and those performed by machines and algorithms, global labor markets are likely to undergo major transformations.
These transformations, if managed wisely, could lead to a new age of good work, good jobs and improved quality of life for all, but if managed poorly, pose the risk of widening skills gaps, greater inequality and broader polarization.
In many ways, the time to shape the future of work is now.
WEF's Future of Jobs Report 2018 aims to unpack and provide specific information on the relative magnitude of these trends by industry and geography, and on the expected time horizon for their impact to be felt on job functions, employment levels and skills. It also provides tools that can support responses to the critical questions confronting businesses, governments and workers in the horizon up to 2022.
Here are some infographics summarizing data from some of the key findings of the report...