Indian job market to see 22% churn in 5 yrs; AI, machine learning among top roles: WEF

The Indian job market is estimated to witness 22% churn over the next five years, with top emerging roles coming from AI, machine learning and data segments, a new study showed on May 1.

The Indian job market is estimated to witness 22% churn over the next five years, with top emerging roles coming from AI, machine learning and data segments, a new study showed on May 1.

Globally, the job market churn is estimated at 23%, with 69 million new jobs expected to be created and 83 million eliminated by 2027, the World Economic Forum said in its latest Future of Jobs report.

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"Almost a quarter of jobs (23%) are expected to change in the next five years through growth of 10.2% and decline of 12.3% (globally)," the WEF said.

According to the estimates of the 803 companies surveyed for the report, employers anticipate 69 million new jobs to be created and 83 million eliminated among the 673 million jobs corresponding to the dataset, a net decrease of 14 million jobs, or 2% of current employment.

Regarding India, it said 61% of companies think broader applications of ESG (environment, social and governance) standards will drive job growth, followed by increased adoption of new technologies (59%) and broadening digital access (55%).

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