The World Economic Forum (WEF) have reported that more than 5 million jobs around the world will be lost over the next four years. More specifically, 7.1 million jobs will be lost and 2 million gained due to technological changes. Amongst these developments include robotics, genetics, artificial intelligence and 3D printing.

The “Future of Jobs” report outlines that jobs will be lost in every industry with healthcare due to the rise of telemedicine, energy and financial services the most affected. There will be an incline in demand for some skilled workers such as data analysts and specialist sales representatives. WEF founder Klaus Schwab has said “Reskilling and upskilling of today’s workers will be critical.