New analysis from Forrester predicts that Asia Pacific’s largest economies could be impacted by increased automation adoption.
According to Forrester’s Future Of Jobs Forecast 2020 To 2040, Australia, China, India, Japan and South Korea could lose 63 million jobs by 2040 solely due to automation.
Forrester predicts that the wide adoption of automation will lead to:
- 11% loss in jobs in Australia
- 7% loss in jobs in China
- 69% of jobs being threatened in India
- 19% decline in Japan’s working population
- 23% decline in South Korea’s working population
However, a spike in green economy jobs could help offset some of the losses these countries could see. As businesses embrace various climate-friendly services and products, careers within renewable energy, green buildings, smart cities and more could create 28.4 million jobs by 2040.
Still, this means that 13.7 million jobs, including those in retail and transportation, could be taken over by automated technology.
While this threat exists across the entire world, Asia Pacific in particular is predicted to feel the challenges with a dwindling workforce.
“To prepare for the changes brought on by automation, the five largest economies in APAC will have to radically rethink their workforce strategies,” said Michael O’Grady, principal forecast analyst at Forrester.
“While each economy faces its own challenges, common focus areas such as hiring more female workers can help offset working population declines. In addition, investing in STEM education, technology workforce training, and protecting the rights of freelance workers will become of utmost importance.”