Robots will Replace 20 Million Factory Jobs instead of Humans by 2025
World Economic Forum forecast that half of all the work will be taken over by the machines by 2025, in transpose likely to worsen inequality. It also warns workers to face binary threats from an acceleration in automation and the fall of the covid-19 recession where the pandemic expedites to the digital world. The manual and routine jobs in administration and data processing are most at the threat of automation. Nearly 97 million jobs will be created for machines as surveyed from the 300 biggest companies worldwide turning to be a “Robot Revolution”
The existing disparity over labor markets and inverse profits in employment made since the global financial crisis (2007-2008) has doubled the disruptive scenario, which unveils additional obstacles in this difficult time, and the opportunity windows of dynamic administration also closing now. More than 50% of employers investigation said they expedit some roles in automation in their companies, while 43% of other employers sense that they cut jobs owing to technology.
Advantages and Disadvantages of Automation
Utilizing hardware and software automation will increase high productivity, and the production cost also considerably very less. Robots can work longer and faster which increases in production rate. Automation is error-free, accurate, and repeatable. It ensures the uniformity of the product in every single time production, and so the raw material can be used precisely then wastages also get reduced. It saves more time and energy and increases through-put which is profitable to the organizations.
Coming to the Disadvantages, The major concern is pollution. Machines will produce harmful gases which are very harmful to nature and reduce air quality. (That emission of gases would also be measured by CAI, AI with Blockchain technology only) The government has also sealed some industries which generate harmful gases. Aforesaid, The devastation to human society comes in the form of unemployment, as a consequence of robots going to replace the work of humans. Therefore human skills get diminished and laziness will be reinforced. Before all else, the investment in buying new equipment will affect the principal expenditure.
Impact of Automation Affects the Livelihood of Workers
A Report disclosed by the consulting firm McKinsey and Company represents an alarming call for today’s labor force: “ Almost every occupation has partial automation potential, as a proportion of its activities could be automated”. In this scenario, Young people, particularly below 45 years who are working in underrepresented minorities, education with less than high school, jobs with high physical work especially men, and also a repetitive task will suffer a lot. In short, it is the vogue sets to affect the lowest paid and lowest skilled laborers the most.
The type of jobs that affect your likelihood in machine replacement is where the work requires more accuracy, precision, and repetition like food preparation and manufacturing. Let's see which type of jobs gets more affected by this replacement of machines in a graphical view.
Roles that anticipate human skills such as advising, decision making, reasoning, communicating, and interacting would stand up in demand. There would also be a “surge” in demand for laborers to fill green economy jobs and new designation will take place in areas like engineering and cloud computing. Tech has a history that isn’t only negative if you look over the last 150 years. It can improve economic growth, it can create new jobs, it can boost people’s incomes, but you have to make sure the mechanisms are in place for that growth to be inclusive.
Data on various jobs worldwide that are affected the most
Image Source: YouTube, Ifr.org
Data Source: Vox.com