Technology can displace, transform 45m jobs globally by 2025: Report

Advent of digital technologies will have an impact on jobs, and up to 45 million jobs can get displaced or transformed by 2025, a report has warned.

Productivity gains through digital technologies will help create up to 65 million new jobs during the same timeframe, a McKinsey Global Institute report said Friday.

“Retraining and redeployment will be essential to help some 10-45 million workers whose jobs could be displaced or transformed,” the report said. It can be noted that the report comes amid tech industry leaders raising question marks over the skillsets of Indian techies and wondering whether they will be helpful in the future.

According to the report, core digital sectors like IT/software and business process management, digital communication and electronics manufacturing can double their GDP contributions to up to $435 billion by 2025.