The upcoming 5G revolution will create millions of jobs but destroy millions more, a study suggest over the job apocalypse it will bring to the world.
Just a recent years, technological advancements has affected the manufacturing workforce in the world.
Automation-driven increases in productivity have already devastated manufacturing jobs.
According to Indiana’s Ball State University study, almost 88 percent of job losses in manufacturing in recent years an attributable to productivity growth.
The study also said in the production would required 20.9 million manufacturing workers, instead, we employed only 12.1 million.
Last week, Cristiano Amon, president of Qualcomm CDMA Technologies, extolled the virtues of the upcoming “5G economy,” painting a picture of autonomous vehicles, smart cities, and ubiquitous augmented and virtual reality.
“It’s going to be as significant as the change caused by electricity and automobiles. There’s a number of industries that can change: manufacturing first, information and communications second, and wholesale and retail is number three,” Amon said.
Retail, for example, will be transformed by augmented and virtual reality, removing the need to try things on—or try them out—in person.
“There’s always going to be a transformation of business models,” Amon said. “It’s difficult for us to predict every single business model that will be on top of 5G.”
But according to an IHS study, high-speed, low-latency ubiquitous networks will create $12 trillion of related goods and services by 2035, he said.
The 5G model considered as job killer, for instance autonomous vehicles will eliminate truck and taxi drivers.
The Bureau of Labor Statistics counts 1.8 million trucking jobs, at $40,000 per year, is at stake. About taxi drivers: 233,700 jobs at $23,510 per year, also in danger. It is only from autonomous vehicles.
One of business subject of the 5G revolution is Amazon’s Go grocery-store concept which promises cashier-less stores, a move that could loss 3.4 million jobs.
Meanwhile, Qualcomm’s Ryan Gorostiza said the company expects that 5G will create 22 million jobs worldwide just in building and maintaining the networks.
“We’ve seen these technological revolutions many times, and they require a shift in the skills across the workforce,” Gorostiza said.
He believe 5G could make the reskilling easier, because the technology provides access.
The incoming technology worries Microsoft founder Bill Gates and suggest to imposed robot tax in order to pay the affected sector especially the workforce industries.