Corporate tenants will cut their long-term leases by up to 30 per cent as automation eliminates nearly a tenth of all existing jobs over the next 20 years, a new office space report by JLL says.
Software that does routine and process-like tasks will also change many of the jobs that remain, in an environment in which companies will retain a smaller core of full-time employees and make greater use of a contingent workforce that comes and goes on a project basis, according to the real estate agency’s Global Real Estate Trends 2017 report.
Automation is in its infancy in Australia but will expand, says JLL, citing OECD figures estimating that 9 per cent of jobs are at high risk of being automated in the next ten to 20 years, while another 25 per cent of jobs will change significantly as half of the tasks they require will become automated.