Coronavirus makes India walk faster than world in these 2 areas; new jobs may flood market soon
The coronavirus pandemic has led companies in India to adopt automation and digitalisation faster than the global average. While 58 per cent companies in India are accelerating automation of tasks, compared to 50 per cent globally, as many as 87 per cent are accelerating digitalisation of work processes, above the global average of 84 per cent, showed a study by World Economic Forum. The COVID-19 pandemic is making companies automate their workforce faster than expected globally, the report added.
It is also estimated that the new trend may lead to 8.5 crore jobs getting displaced in the next five years in medium and large businesses across just 15 industries and 26 economies while the robot revolution will create 9.7 crore new jobs. However, the communities most at risk from disruption are expected to need support from businesses and governments, the report further said.