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Robots and artificial intelligence could erase 5.1 million jobs by 2020: Davos report

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Disruptive labor market changes, including the rise of robots and artificial intelligence, will result in a net loss of 5.1 million jobs over the next five years in 15 leading countries, according to an analysis published in Davos on Monday.

The projection by the World Economic Forum (WEF), which is holding its annual meeting in the Swiss ski resort this week, assumes a total loss of 7.1 million jobs, offset by a gain of 2 million new positions.

The 15 economies covered by the survey account for approximately 65 percent of the world’s total workforce.

The assessment highlights the challenges posed by modern technologies that are automating and making redundant multiple human tasks, from manufacturing to healthcare.

With the International Labor Organization, part of the United Nations, already forecasting an increase in global unemployment of 11 million by 2020, the size of the additional job losses is sobering.

Two-thirds of the projected losses are expected to fall in the office and administrative sectors as smart machines take over more routine tasks, according to latest findings, which are based on a global survey of personnel and strategy executives.

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The WEF has made “the fourth industrial revolution” — a topic covering robotics, nanotechnology, 3D printing and biotechnology — the official theme of this year’s Davos meeting, which runs from Jan. 20 to 23.

The “Future of Jobs” report concluded that jobs would be displaced in every industry, although the impact would vary considerably, with the biggest negative losses likely to be in healthcare, reflecting the rise of telemedicine, followed by energy and financial services.

At the same time, however, there will be a growing demand for certain skilled workers, including data analysts and specialist sales representatives.

Women will be the biggest losers as their jobs are often concentrated in low-growth or declining areas such as sales, office and administrative roles, the report said.

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While men will see approximately one job gained for every three lost over the next five years, women face more than five jobs lost for every one gained.

(Reporting by Ben Hirschler; editing by Anna Willard)

Report typos and corrections to [email protected].
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John Dean explains the big mistake Hope Hicks made by stonewalling Congress

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Former White House counsel John Dean, a key figure in the Watergate scandal, said Wednesday on CNN that there was a serious flaw in the attempt to prevent longtime Trump confidant Hope Hicks from testifying to Congress.

White House lawyers have asserted that Hicks has absolute immunity and is not legally required to testify about her time as Trump's director of communications. Hicks testified Wednesday during a closed-door hearing before the House Judiciary Committee — where she reportedly refused to answer questions about her White House job.

"Privilege is not being asserted here. Instead, the White House says that Hicks has absolute immunity regarding the time that she spent at 1600 Pennsylvania. Does absolute immunity even exist? And if so, can you explain to me the difference between the two?" CNN host Brooke Baldwin asked Dean.

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GOP gangs up on AOC: Top Republican demands Ocasio-Cortez apologize to the entire world – she refuses

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The Republican machine is in fifth gear right now, speeding to attack one of their top Democratic targets: Rep. Alexandria Ocasio-Cortez (D-NY).

At issue, a video the New York Democrat recorded in which she calls the migrant detention camps on the U.S. Southern border "concentration camps."

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Economist mocks GOP for trying to pin racism on Democrats — after telling a harrowing story about anti-black economic envy

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Economist Julianne Malveaux explained to the House Judiciary Committee on Wednesday that there was a time in the United States where black Americans were actually closing the wealth gap with white Americans -- until white Americans rioted and burned their property.

During her testimony at a hearing on reparations, Malveaux recounted the horrific story of the destruction of "Black Wall Street," which was a location in Tulsa, Oklahoma that was known for its high concentration of black-owned businesses and black wealth.

The area's prosperity came to an end in 1921 when white Tulsa residents used baseless accusation of a black man sexually assaulting a white woman as a justification to chase out all black residents and set fire to their neighborhoods. Hundreds of black residents were killed in the riots and the majority fled the city.

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