The Skills Revolution and Healthcare

Nov 28, 2019 | Frank Sakellariou


Share

“While we found that one-quarter of Canadian jobs will be heavily disrupted in the next decade, occupations drawing on human skills like critical thinking, active listening and social perceptiveness are far less likely to succumb to automation, even if they are profoundly altered by technology.” - RBC
 
RBC, in its decade long attempt to help Canadian youth prepare for the ever evolving job markets, conducted a recent study on the impacts of automation and technology on the future of work.
 
The study found that in the coming decade, half of all jobs will be disrupted by technology and automation.
 
“Some will change dramatically. Others will disappear completely, replaced by jobs that are yet to be invented.”
 
There are still a few industries expected to come out of this relatively unscathed. Within the healthcare space, only 17% of the workforce is at risk of automation, in fact the risks of being displaced by automation are twice as high in non-healthcare industries.
 
“Automation isn’t going to replace the complex interplay of active listening, evidence-based decision-making, intuition and empathy that arises in the most basic of visits to the family doctor, let alone in bigger health emergency requiring a team of medical specialists.”
 
Canada’s healthcare sector already employs more than 2 million people and the numbers are growing fast. RBC estimates that there will be another 370,000 new jobs in healthcare by 2025 driven by the demanding needs of a rapidly aging population. By the end of 2020, one in four Canadians will be seniors.
 
“By our count, more than 1 million Canadians in at-risk jobs have at least three of five key skills that will be especially important for the healthcare jobs of the 2020s…We believe that, with the right training, many at-risk workers are well positioned to cross into the healthcare field.”
 
Please click on the following link to read the full RBC report: Paging Dr. Data: How the coming skills revolution can transform healthcare.
 
 
Disclaimer:
This information is not investment advice and should be used only in conjunction with a discussion with your RBC Dominion Securities Inc. Investment Advisor. This will ensure that your own circumstances have been considered properly and that action is taken on the latest available information. The information contained herein has been obtained from sources believed to be reliable at the time obtained but neither RBC Dominion Securities Inc. nor its employees, agents, or information suppliers can guarantee its accuracy or completeness. This report is not and under no circumstances is to be construed as an offer to sell or the solicitation of an offer to buy any securities. This report is furnished on the basis and understanding that neither RBC Dominion Securities Inc. nor its employees, agents, or information suppliers is to be under any responsibility or liability whatsoever in respect thereof. The inventories of RBC Dominion Securities Inc. may from time to time include securities mentioned herein. RBC Dominion Securities Inc.* and Royal Bank of Canada are separate corporate entities which are affiliated. *Member-Canadian Investor Protection Fund. RBC Dominion Securities Inc. is a member company of RBC Wealth Management, a business segment of Royal Bank of Canada. ® / TM Trademark(s) of Royal Bank of Canada. Used under licence. © 2019 RBC Dominion Securities Inc. All rights reserved.

Categories

Technology Seniors