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Rise of the robots will eliminate more than 5 million jobs

Over five million jobs will be lost by 2020 as a result of developments in genetics, artificial intelligence, robotics and other technological change, according to World Economic Forum research.

By Jill Ward, Bloomberg | Updated on January 18, 2016
President and Founder of the World Economic Forum Klaus Schwab speaks during an interview with The Associated Press in Davos, Switzerland, Monday Jan. 18, 2016. The world's political and business elite are being urged to do more than pay lip service to growing inequalities around the world as they head off for this week's World Economic Forum in the Swiss ski resort of Davos this week. (AP Photo/Michel Euler)

(Bloomberg) — Over five million jobs will be lost by 2020 as a result of developments in genetics, artificial intelligence, robotics and other technological change, according to World Economic Forum research.

About 7 million jobs will be lost and 2 million gained as a result of technological change in 15 major developed and emerging economies, WEF founder Klaus Schwab and managing board member Richard Samans said in “The Future of Jobs.” The findings are taken from a survey of 15 economies covering about 1.9 billion workers, or about 65% of the world’s total workforce.

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