Asia Pacific predicted to lose 63 million jobs to automation by 2040
63 million jobs in the Asia-Pacific region are forecasted to be lost to automation by 2040, according to a report by research and advisory firm Forrester. The five largest economies in the Asia Pacific – India, China, South Korea, Australia and Japan – are more at risk of physical robot automation than Europe and North America, it highlighted.
Over 247 million jobs are also expected to be in jeopardy across industries that are more susceptible to automation, such as construction and agriculture.
However, the green economy will help offset some job losses as more countries commit to carbon neutrality. By 2040, countries like India, China, South Korea, Australia and Japan will create 28.5 million new jobs in renewable energy, green buildings, smart cities and smart infrastructure, and professional services.
Forrester expects Australia to see 11% of jobs lost to automation by 2040. Jobs across consulting, scientific and technical services, which are harder to automate, will see the fastest growth, especially in the ICT industry.
In China, although it expects the working population to fall by 11% by 2040, and 7% of jobs to be lost to automation, the report highlights that job growth in the ICT industry will help offset automation job losses, with 3.8 million additional new jobs created by 2040.