Over 5 million jobs will be lost due to the 4th industrial revolution, report says

World Economic Forum Executive Chairman and founder Klaus Schwab presents his book The Fourth Industrial Revolution during a news conference in Cologny, near Geneva on Jan 13, 2016. [Photo/Xinhua]

The report predicts that in the next five years there will be a total loss of 7.1 million jobs—two thirds of which are concentrated in routine white collar office functions, such as office and administrative roles—and a total gain of 2 million jobs, in computer and mathematical and Architecture and Engineering related fields.

"In its scale, scope, and complexity, the transformation will be unlike anything humankind has experienced before," wrote Klaus Schwab, Founder and Executive Chairman of WEF in his latest article called The Fourth Industrial Revolution: what it means, how to respond.