According to Longmei Zhang and Sally Chen, respectively an economist and a representative of the International Monetary Fund (IMF), digitalization has generated between one-third and one-half of Chinese employment growth, or about 14 million new jobs in the past five years in information and communications technology (ICT) and retail sectors.
Job creation has been even more massive, Zhang and Chen underline, if we include SMEs providing services for Chinese giants such as the Alibaba e-commerce platform or the Didi Chuxing Technology Co ride-hailing service.
Statistics also show that unlike the industrial sector where 9 million jobs have been mainly replaced by robots since 2012, the digital sector has not suffered from automation. “Not yet,” warn however those who predict a spike in digital automation while artificial intelligence (AI) grows.
Cyceon.com and all its contents are for information purpose only and therefore do not constitute investment advice.