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Numerous reports about the loss of jobs to automation has been making headlines for the last few years. Many people believe that robots will take over society and make lots of people unemployed. What do you believe? You might be surprised to learn, that job loss is not caused by robots alone. In reality, it's because of the use of technology in general.
What is the future of work?
Society has been dreading this moment for a very long time. And who can blame them? The thought of automation replacing jobs is a scary thing. Not just because it would destroy certain occupations, but also because the future might look completely different from today.
We would have to readapt to our jobless and technology driven lives. But much like every other fear, there's a solution to it. Automation may be the future, but there will always be countless people whose jobs are spared since they can't be automated or outsourced.
However, even for thise jobs that cannot be fully automated, it is likely that some of their job duties will be. This means very few, if any, workers will not be impacted by automation in some way
What impact will automation have on work?
Recent announcements from big companies such as Comcast and CVS claim that they are looking to shed jobs, a move driven by automation systems. This isn’t the first time, and it won’t be the last that automation is taking over jobs. It will not only become commonplace in large corporations, but it will most likely become prevalent among small businesses as well.
Automation is changing the way we work. While it eliminates repetitive tasks, it replaces jobs as the workforce becomes more and more efficient. A lot of jobs are being replaced by technology and automation.
What will automation mean for skills and wages?
There are fewer human workers but there is growing demand for workers higher skill sets such as programming, application maintenance and management, design, data analytics, and others. The workforce will need to undergo significant changes in order to remain relevant and employable in the future. This shift could prevent some fo the job losses expected from automation. The more people that can be retrained for the work of the future, the less impact automation will have.
What are possible areas for employment growth?
Despite the doom and gloom that is predicted to be created by automation, jobs are actually expected to grow, say experts. However, it’s not where you would think. There has been a reshuffling of jobs predicted in certain sectors as the human workers will be needed to keep pace and adapt to the new technologies.
As Artificial Intelligence (AI) becomes more prevalent, there is the need to make sure that there are humans ready to support it. There is a growing concern that there won’t be enough qualified candidates to meet the demands of tech companies and even some basic fields. A recent report by Harvard University and McKinsey Global Institute has determined that nearly 30% of U.S. jobs could be at high risk for automation in the next decade. However, it doesn’t mean that all jobs at high risk will be replaced, just less skilled jobs will be automated.
Automation has changed the way organizations function. The increased use of machines for routine tasks have freed-up time and resources for non-routine jobs. Apart from disruption, automation has also opened up new opportunities in terms of transparency, efficiency and accuracy. However, the long-term effects of automation are yet to be seen. Will there be fewer entry-level job openings?
Will there be enough work in the future?
As we mentioned previously, there is growing concern that job losses to automation will eventually lead to a shortage in work. Research suggests that these fears can be mitigated with the proper innovation and investment in new job creation to offset negative effects of automation.
Part of the difficulty will be the resources available to support workers in the transition. Will job re-training be available, what about those who are too old to transition, will the government subsidize these programs? There are no easy answers, but these tough questions must be asked if society hopes to handle the coming shift in work that artificial intelligence and automation will bring.
Will automation affect countries in different ways
Unfortunately, the rise in automation will affect countries in different ways.
Unfunately, like most economic shifts, the automation will impact countries in different ways. It is already clear that it will have a negative impact on tasks of low complexity and routine nature. These jobs are often vulnerable to software and machines, so the job losses may be more prevalent in countries that rely on low skilled labor to fuel their economy.
Even high-skilled countries like the United States will not be immune to workforce displacement from automation.
The progression of automation has brought forth various changes to the world economy. Automation is no longer just a matter of science fiction, but a reality that is slowly affecting different countries in various ways. As countries brace for change, the effects of automation are already being felt across the globe and will continue to transform the world in countless unimaginable ways.