Keywords=Robotics, future, restaurants, banks, robotic coffee makers, and good things humans adapted before will continue to.
The reality, which was once just future projections in the movies that the machines are taking over the world, is now coming into being in front of billions of people’s eyes. During the last two decades, the evolution of technology has been at a very fast pace. The focus of innovation and technology now is on automation and robotics. From the most complex portfolio management tasks in banks to making coffee has been handed over to Artificial Intelligence (AI). People are now using robotic coffee makers in which they only must pour ingredients into the machine, and you can get freshly brewed coffee in the morning.
Automation of Jobs
The truth is that robots will take away most of the jobs that the majority of the unskilled workers are doing. Research conducted by McKinsey shows that forty-five percent of the jobs can be automated using robotics in the future. Even though automation will mostly affect the low and unskilled workers, however, there are many parts of executives’ jobs that can be automated. This is not as bad as it sounds, and it can be a good thing that can be beneficial for human beings. The advantages of automation extend far beyond the savings of labor costs as there are other multiple benefits.
In history, automation has always increased the level of production across all industries. Lower levels of input are now producing a higher level of output, and work that was done in months can now be done in hours due to robotics. Only the quantity has not been affected, but the quality of products has also improved with automation. The room for a mistake for machines is far lower than that for human beings. AI offers exponential growth at a fast pace. All these benefits would depend on managing, staffing, and leading an automated organization.
Most people believe that automation of a job would mean that all the tasks of a job description would be automated. This is true in very low-skilled and unskilled jobs, but in most of the jobs, some parts of the tasks would be automated. There would be a need to redefine the jobs that exist instead of ruling them out completely. For example, in banks, loan providers will spend less time processing the paperwork and focus their energies on advising their clients and getting more business. Restaurant managers would not be spending time generating reports but looking at automatically generated results and analyzing their implications for the business. AI will be able to read the provided data and give solutions, but the implementation would still be in the managers’ hands.
In the past, humans adapted before will continue to learn to live with technology for their betterment and will continue to do so in the future. The economic benefit for the highest skill jobs will reap the maximum benefits by freeing up these individuals’ time, allowing them to do more work which pays a lot. Data mining will easily generate insights that financial analysts will generate after a long time. Financial analysts’ focus would now shift to decision-making according to the information because artificial intelligence cannot consider some of the situational information that is not predefined.
Human beings’ intelligence and some of their brain capacity can be replicated with robotics, but emotional intelligence cannot be taught. Sensing emotions is one of the celebrated capabilities of human beings. Reading the other person helps create empathy and care, which does not exist in robots. Robots are also incapable of being creative and thinking out of the box as they make decisions according to the information already fed in their systems. Even though creativity and emotional intelligence are not replicable, their practical importance in the job market is very low. There are only a few jobs where a high level of emotional intelligence and creativity is required, with most jobs requiring repetitive tasks to be done.
The Upside of automation
Although many jobs will be taken away from people in the future because of robotics, there is a huge upside on which we are not focusing. Automation can occur in most tasks that are repetitive and are said to be meaningless for human beings. Human beings would now have more time to develop their creative skills in which they find meaning. Physical tasks would also be no longer required, and people would be improving their mental capability, which can be used to better mankind. Currently, attention is not given to climate change problems because humans are too caught up in their schedules to worry about anything else. Afterwards, more time would be given to long term problems due to availability of free time.
Even though there is the upside of automation, this does not mean that nothing should be done about the job losses. Organizations and the government involved in the automation of tasks should be looking for ways to employ the people who are no longer required in their previous jobs. If there is automation without consideration for people who lose their jobs, there will be higher economic inequality levels.
In the future, robotics will take over many jobs from people, such as driving because of self-driving cars, data processing, and generating reports. Forty-five percent of the jobs can be automated, with the biggest threat to low-skilled jobs. In the case of high skilled jobs, only some parts of the job will be automated. Although job losses can cause many problems, there is an upside to automation that people can focus on creative professions with repetitive work delegated to robots.