The rise of the green economy is expected to help offset some job losses as more countries commit to carbon neutrality.
FREMONT, CA: Nearly 63 million jobs are anticipated to be lost due to automation in the Asia Pacific region. Over 247 million jobs are anticipated to be at risk in sectors that are particularly vulnerable to automation, like construction and agriculture. This gloomy prediction coincides with difficulties faced in the five leading economies—India, China, South Korea, Australia, and Japan—as they currently experience falling working populations and increased hiring and retention expenses.
Companies are anticipated to increase their investments in physical robot automation as a result. It is observed that the economies of APAC were more vulnerable to job loss than those of Europe and North America. On the other side, as more nations pledge to achieve carbon neutrality, the growth of the green sector is anticipated to partially offset job losses. By 2040, 28.5 million additional jobs in professional services, smart cities and infrastructure, green buildings, renewable energy, and South Korea, Australia, and Japan are anticipated.
However, 13.7 million jobs in the region will be lost to automation in the wholesale, retail, transportation, lodging, and leisure sectors, according to a Forrester report.
Australia
Australia has a high GDP per worker, encouraging businesses to automate tasks to increase productivity and lower labour costs. By 2040, automation will cause a loss of 11 per cent of jobs in Australia. The fastest-growing occupations will be those in consulting, scientific, and technical services since they are less susceptible to automation, particularly in the ICT sector. Australia's working population will rise by 23 per cent due to immigration from outside.
China
China's working population will decrease by 11 per cent by 2040, and seven per cent of employment will be automated out of existence. By 2040, the ICT sector will have added 3.8 million employees, which will help offset job losses due to automation. China, the second-largest AI market in the world after the US, is anticipated to acquire almost
India
The average age of the workforce in India, which is currently 38, will increase by 160 million over the next 20 years, bringing the working population to 1.1 billion by 2040. Additionally, India's labour force participation rate, which gauges the proportion of the working-age and currently employed population, has fallen to just 41 per cent. India's top goal will be job creation to accommodate more employees joining the workforce, although automation threatens 69 per cent of its jobs.
Japan
Japan's working population will decrease by 19 per cent between 2020 and 2040 due to an ageing workforce and a low birthrate in the nation. It is anticipated to decrease by roughly one-third by 2050.
Korea, South
South Korea's employment will decrease by 23 per cent over the next 20 years due to an ageing working population and a reliance on the more automatable construction and agricultural sectors.
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