Automation is the new norm across sectors. Experts say that looking at the steady growth of automation across various sectors tells that four out of every 10 jobs globally would be lost due to this by 2021. The rate at which automation adoption process is increasing, all high transaction sectors like manufacturing, IT and ITeS, banking, security services, agriculture and labor intensive jobs will take a hit.
To cater to this fallout, a government needs to focus on two key areas strengthening the mid-market segment and re-skilling the workforce to take up new jobs which will emerge post automation.
Well, the hopeful news says that automation will not take away all the jobs as we still need someone to build and monitor the robots.
The Banking Sector
Robotics and AI are to be blamed to reduce job opportunities in banking sector. The job of the clerk has almost vanished in the past decade with few account holders getting a pass book. Coming years even the teller’s job is anticipated to be replaced by sophisticated automated teller machines. Similar much more jobs are predicted to be going away as computing makes them possible.
A Glance at the IT Sector
Automation is a constant thread running through enterprise cloud. Organizations are using cloud technology to reduce the amount of time and budget needed for maintenance and operations. This is paving a way to fewer jobs in those areas. The warnings from the IT must not be ignored.
Given these trends; Skilling, productivity, and employability have become important. It has become necessary instead to attack the question of skill development and productivity enhancement on a war footing. Too many individual members will be unable to find employment in the new age of automation and protectionism unless they are given the upgraded skill set that could enable them to do so.
Although the jobs of the future will exist, they will not be the same as the jobs of yesterday. We must prepare our workforce by providing it the training needs. The government should have a laser-like focus on human capital, skilling, and productivity growth
Computers threaten more than low-skill jobs like factory workers, retail clerks, and waiters. The other side of the coin says that computers become exponentially more sophisticated and shall be doing more sophisticated work. It will be a boon in many industries to deliver work with increased accuracy and productivity.