Study: Automation to Erase Millions of Jobs, Create Others

A new report says automation could destroy as many as 73 million U.S. jobs by 2030.  The McKinsey Global Institute found about half of all work activities globally have the potential to be automated.

“Work that is done on an assembly line within a factory is predictable, it's a physical activity, and we see robots being able to do that,” says Michael Chui, MGI partner.  “But there are two other types of activities, one is collecting data and also processing data.”

However, Chui says those displaced by technology can shift into other areas.

“What we're going to end up with is jobs where start to do more things like interacting with other people, managing and leading other people, using emotion, using empathy and using creativity,” he says.

Chui also sees potential growth in elder care and construction, but retraining millions of workers poses the biggest challenge.

 “We see people who are aging and they'll need more health care and services, and we see the need to upgrade, repair and put more infrastructure in place and to build more buildings,” he says.

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