The machines are coming for your job...

A report published recently by the World Economic Forum anticipates more than half of jobs in existence today to be taken over by machines by 2025 - that's less than 5 years from now!

The report, which is based on a survey of hundreds of leading companies, indicates that up to 87 million jobs will be lost in the coming 4 years.

In fact, more than 50% of companies surveyed by the WEF indicated their intention to accelerate automation - 43% of companies expected this to lead to job losses.

While this threat of automation has existed for a while, the report indicates that the COVID-19 pandemic has significantly accelerated this process, with many companies looking to cut costs and increase efficiencies by replacing human workers with automated systems and artificial intelligence (and doing so at a much faster pace than originally planned).

All is not doom and gloom though:

1. A number of skills are not expected to be replaced by machines anytime soon, including: multi-layered advising, high stakes decision-making, negotiating, interacting, communicating, etc.

2. The rise in automation will create more demands for certain skills: maths, sciences, and engineering.

Just like the workforce had to reinvent itself upon the advent of the industrial revolution, or the tech boom, we should equip ourselves with the skills to stay relevant...

Rather than develop narrow skill-sets which can be replicated by machines & AI, focus on developing diversified skills with a wide range of applications.

Such skills include: STEM and communication.

STEM (Science, Technology, Engineering and Mathematics) are the foundation of an adaptable skillset which can be built upon and rebuilt upon as the landscape changes.

But STEM education isn't limited to young undergrads or grad students. Your STEM skill-set can be developed at any age through ongoing education.

We have access today to countless online courses offered by some of the world's top institutions, and often times they are available for free or for a fraction of the cost of a full degree.

The beauty of ongoing education is that you can pick and chose the topic and pace at which to learn.

The same goes for communication: the skill of reading and influencing people is invaluable, and further strengthens your skillset against becoming obsolete.

This comes with practice and coaching, and most importantly: self-evaluation - something many of us fail to do.

A year ago, I wrote an article about which jobs are most at risk, and which jobs (and skills) provide some level of relative safety, at least in the short term.

So skip an hour of TV here and there, skip a brunch here and there, and build up your skillset before T1000 comes for your job.