14 million jobs will disappear in next 5 yrs

London: Huge disruptions will rock the global job market over the next five years as the economy weakens and companies boost adoption of technologies such as artificial intelligence (AI), a new report has revealed. That finding comes from the World Economic Forum, which published a report based on surveys of more than 800 companies, reports CNN.

WEF - which hosts a gathering of global leaders in Davos, Switzerland, every year - found that employers expect to create 69 million new jobs by 2027 and eliminate 83 million positions.

That will result in a net loss of 14 million jobs, equivalent to 2 per cent of current employment, CNN reported. Many factors will feed labour market churn during that period. The shift to renewable energy systems will be a powerful engine for generating jobs, while slower economic growth and high inflation will drive losses.

The rush to deploy artificial intelligence, meanwhile, will serve as both a positive and a negative force.