The Forum’s Future of Jobs Report 2023 — which has compiled perspectives from 803 international companies that, collectively, employ more than 11 million workers across 27 industry clusters — investigated how influential business and labour trends could impact employment between now and 2027.

It underscores that, despite potential widespread disruption induced by technological advancement and adoption, the net impact of most technologies is ultimately set to be positive.

AI, e-commerce and digital trade, digital platforms and apps, and agriculture technologies in particular have been anticipated to instigate “significant labour market disruption.”

Meanwhile, big data analytics, climate change and environmental management technologies, and the encryption and cybersecurity sectors have been hailed to be the largest drivers of job growth.

In terms of figures and statistics, some 75% of companies surveyed said they expect to adopt AI technologies during the next five years, highlighting how businesses are readying to act following rapid advancements in artificial intelligence exemplified by chatbots like ChatGPT.

While 50% of organisations believe AI will create job growth and 25% expect it to create job losses, training workers to utilise AI and big data will be prioritised by 42% of companies in the coming years, ranking slightly behind analytical thinking (48%) and creative thinking (43%) in perceived importance.

On average, the employment of data analysts, big data specialists, AI machine learning specialists, and cybersecurity professionals is anticipated to grow by 30% by 2027.

Speaking of big data, it ranks at the top among technologies seen to create jobs, with 65% of respondents expecting job growth in associated roles.

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With the report’s findings, Saadia Zahidi, the World Economic Forum’s Managing Director, says that workers across the globe need to be adequately supported by both businesses and governments while labour market turbulence is navigated.

“For people around the world, the past three years have been filled with upheaval and uncertainty for their lives and livelihoods, with COVID-19, geopolitical and economic shifts, and the rapid advancement of AI and other technologies now risks adding more uncertainty,” she said.

“The good news is that there is a clear way forward to ensure resilience. Governments and businesses must invest in supporting the shift to the jobs of the future through the education, reskilling and social support structures that can ensure individuals are at the heart of the future of work.”

To read the World Economic Forum’s latest report, click here.