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Illustration: Lazaro Gamio/Axios

The new age of automation is building global momentum much faster than many thought, with more than half of the tasks done by human workers on pace to switch to machines in just seven years, according to a report released today.

Why it matters: Earlier this month, we reported that the impact of artificial intelligence is happening only slowly, but will pick up to a rapid clip in the late 2020s. But with automation, we are already there, according to a report by the Geneva-based World Economic Forum.

  • Examining large companies in 20 advanced and developing economies, the report said that by 2022, machines will carry out 42% of the labor — and an accelerated 52% just three years later.
  • That's up from a 29% automated share last year.
  • The people, employers and governments in these countries have barely begun planning the fundamental reordering of work, education and society needed to absorb this coming new blow to the global system.

The findings align generally with a slew of reports released the last year or two by Western think tanks and companies.

Mass redeployment in labor forces around the world, including reskilling/retraining (rather than mass unemployment), is one of the societal grand challenges in the next several decades.
— Michael Chui, who has led numerous automation studies for the McKinsey Global Institute

In the U.S., there is only embryonic discussion under way. In an event today, President Trump spoke at the inaugural meeting of his National Council for the American Worker, which he established in July to begin planning how to retrain workers for the future economy.

Meanwhile automation is already happening fast — 75 million workers could lose their jobs to automation by 2022, the World Economic Forum report said. If those workers are given "significant" reskilling, and a pipeline of new workers is created in schools and colleges, companies could create 133 million new jobs by 2022 — more than compensating for those that vanish, the report says. By significant, the report means an average of 101 days of retraining, a little over three months.

  • But the operative phrase, is "if," says Saadia Zahidi, the study's lead author and head of the forum's Center for New Economy and Society.
  • The future job forecast is based on a conceptual idea of new skills that, if learned by a single person, could result in a new occupation. If such skills are compounded out, the economy could have a slew of new emerging occupations. "But they won't emerge if we don't give people the right skills," Zahidi said.

A primary finding is that every part of the work chain — labor, companies and government — will have to step up to head off a dangerous disruption. For workers, this is because two-thirds of the companies said they would provide retraining only for their highest-skill talent, Zahidi said. That will leave the rest of the work force on its own.

  • One reason: No company has the money to reskill all its vulnerable workers, Zahidi said.
  • An option, in addition to the government stepping in, is for companies to pool their resources for reskilling "if competitive factors can be put aside," she said.

Go deeper

Updated 38 mins ago - Politics & Policy

Bill Clinton hospitalized for non-COVID-related infection

Former President Bill Clinton. Photo: Win McNamee/Pool/AFP via Getty Images

Former President Bill Clinton was admitted to the University of California, Irvine Medical Center on Tuesday for a non-COVID-related infection, his spokesperson Angel Ureña said Thursday.

The latest: In an update on Friday, Ureña said Clinton's health indicators are "trending in the right direction, including his white blood count which has decreased significantly."

Tina Reed, author of Vitals
6 hours ago - Health

FDA panel endorses shot of J&J booster for adults

Photo: Wolfgang Kumm/picture alliance via Getty Images)

Members of the Food and Drug Administration's vaccine expert panel on Friday unanimously endorsed a booster shot for adult recipients of Johnson & Johnson's COVID-19 vaccine at least two months after the initial dose.

Why it matters: The advisory committee raised concerns about a dearth of data to support their decision but ultimately decided to support an additional shot for those over 18.

Capitol Police officer indicted for obstructing Jan. 6 investigation

Trump supporters clash with police and security forces as people try to storm the Capitol on Jan. 6. Photo: Brent Stirton/Getty Images

A U.S. Capitol Police officer has been indicted on obstruction of justice charges for allegedly helping hide evidence of a participant's involvement in the Jan. 6 riot.

Driving the news: Officer Michael A. Riley, 50, is accused of telling the unidentified participant, referred to as "Person 1," in the Jan. 6 riot to delete posts from Facebook, which showed them in the Capitol during the attack.