Automation and it’s link to job recession

With advancement in AI technologies, automation in predictable environments is taking control over occupations.

Automation and its impact on workplace systems

The current employment market features majority jobs carried out in predictable environments. Jobs that lack the need of creativity and human intelligence are at a severe risk of being automated. Some of these jobs include occupations like fast food chains and operating machinery in factories.

While these jobs face the risks of being automated it is crucial to note that the development of AI will be facilitated by a profitability standpoint. The development of automated machines is costly and therefore, businesses that have promising propositions to yield them profits will be looked after. Since McDonalds was ranked as having the second-highest global brand value, AI companies may be attracted towards such chains to garner revenue.

Trends of automation

McKinsey Global institute’s 2017 report, Jobs lost, Jobs gained: Workforce transitions in a time of automation, introspects the number and types of jobs that might be created under different scenarios through 2030 and compares that to jobs that could be lost to automation.

(Source: McKinsey Global institute analysis) 

(Automation will have a far-reaching impact on global workforce)

Less than 5% of jobs can be fully automated. However, in about 60% of occupations, at least 1/3rd of activities in several occupations can be automated. This could lead to larger job displacement particularly in areas offering low wage employment such as factories, etc.

Reskilling and Upskilling

Whether the presence of automation is limited or extensive, the job landscape is due to change in the future. This ushers in the need to adapt to the changing job landscape. As tasks become automated, jobs requiring sentiment and abilities like creativity offer openings.

Individuals seeking to enter the job market should concentrate on focusing their skills on job descriptions that will find difficulty adapting to automation. Wedding planning, for one, requires immense creativity and scheduling of activities that will find difficulty embracing automation.

Besides creativity, individuals can start engaging in coding. This will help them understand the way AI works and will provide them with an opportunity to work on the AI models governing the automation industry. Lifelong learning and adaptability thus, become essential for individuals to remain competitive in the workforce.  

Implications of automation

While companies might embrace the accessibility and commanding the automation industry, other factors will also play a role in uprooting automation. Unemployment is an issue being tackled in current times as well. If automation were to take over jobs, social acceptance may weigh down its presence.

Machines much like humans arrive with room for error. While humans may present sentiment to overcome these challenges, the mental framework of AI has not found that complexity yet. The absence of sentiment would not be valued in the larger societal discussion leading to the rapid dismissal of AI technologies taking over the job market.

While job displacement is a worrying avenue, proactive measures need to be adopted to smoothly ride out this transition. Concludingly, while AI development is a prospect inevitable for a capitalist society, adaptability can provide an avenue for maintaining one’s value in the job market.

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