Automation, job market and future skills : How will automation affect the future job market and what are key skills in the future?
Rautakorpi, Konsta (2021)
Rautakorpi, Konsta
2021
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2021052711899
https://urn.fi/URN:NBN:fi:amk-2021052711899
Tiivistelmä
The changes in the labour market will affect almost all of us somehow in the future. In European Union, the population is estimated to grow from between 2016 and 2070, while at the same time period amount of working age population is estimated to decrease. Combined with the increasing automation in the labour markets and skill gap between jobs and employees creates a misbalance in the labour markets. The goal of this thesis is to answer two questions: how automation, robotics and artificial intelligence effect the future labour markets and what are the skills employees need in the future to avoid being replaced by robots.
Based on literature review on the effects of automation on labour markets and future skills needs, a secondary data analysis was conducted to find out how automation will effect labour markets and what are the possible skills needed in the future. While automation does have an effect on labour markets, it is not likely to remove all the jobs from humans to robots. Only 5% of the jobs can be fully automated, while 60% of all occupations have at least 30% of activities that have the potential to be automated. Social and emotional skills will play an increasing role in the future skills, as well as high cognitive skills, that include skills such as creativity and decision making.
The results indicate that while automation will grow in the future, it is not likely that jobs would be wiped out because of it. Skills that are most needed in the future are ones requiring interpersonal skills, such as teamwork.
Based on literature review on the effects of automation on labour markets and future skills needs, a secondary data analysis was conducted to find out how automation will effect labour markets and what are the possible skills needed in the future. While automation does have an effect on labour markets, it is not likely to remove all the jobs from humans to robots. Only 5% of the jobs can be fully automated, while 60% of all occupations have at least 30% of activities that have the potential to be automated. Social and emotional skills will play an increasing role in the future skills, as well as high cognitive skills, that include skills such as creativity and decision making.
The results indicate that while automation will grow in the future, it is not likely that jobs would be wiped out because of it. Skills that are most needed in the future are ones requiring interpersonal skills, such as teamwork.