Knowing how and where robots and machines could impact the global economy will help financial executives in a competitive edge in their industries but predicting which countries are likely to be impacted most by workforce automation and when isn't as simple as comparing industries across the globe.

A recent McKinsey Global Institute report, A Future That Works: Automation, Employment, and Productivity, analyzed the automation potential of 46 countries, representing 80% of the global workforce. Several factors are considered, including the percentage of work activities that could be automated using current technology, the number of full-time employees that could be affected, and wages.

The types of activities that have a high potential for automation are physical tasks in highly structured and predictable environments, data processing, and data collection. Those that have a considerably lower potential for automation are unpredictable physical work, interactions with others, applying expertise, and managing others, which is the least susceptible to automation.

It is believed that differences are expected in how automation will play out across the globe, as technical, economic, and social factors will determine the pace and extent of it. But it's hard to say how quickly automation will become reality, according to the report.

Take manufacturing, for example. One country may save a larger concentration of work hours in jobs that have higher automation potential, such as production and administrative support. And another country may have a higher proportion of work hours in jobs that are less likely to be automated, such as management and engineering.