The rapid pace of technological innovation in the modern world makes it difficult to clearly see the final outcome of its implementation in business or society. Understanding how automation and robotics will affect worldwide employment trends is a good example. Both employers and talent will benefit by paying attention to these technological advancements in industry.
Thought Leadership on Automation and Robotics
Automation and robotics are entering the workforce and replacing human workers more and more; this is a hot topic in the world today. Let’s take a look at what current thought leadership is saying.
An article found on Nasdaq, called:“Wiping Out Job Growth With Robotics”, written on April 28th, 2017 by Steven Hansen, explains:
“…robotic systems are now priced at $100,000 to $150,000 with reconditioned systems costing half that amount – and with maintenance would translate into a cost per hour of $0.50 if the robotic system was used 24 hours per day. We generally think of robotics to be associated with manufacturing but it reaches into services as well – especially when you stretch the definition to include automation and artificial intelligence (AI).
…if current population growth trends remain in play – it doesn’t take any imagination to see robotics /automation / AI wiping out 50,000 jobs a month.”
Then in an article found in the New York Times called:“The Long-Term Jobs Killer Is Not China. It’s Automation.”, written on December 21st, 2016 by Claire Cain Miller, we learn:
“Take the steel industry. It lost 400,000 people, 75 percent of its work force, between 1962 and 2005. But its shipments did not decline…
…Another analysis, from Ball State University, attributed roughly 13 percent of manufacturing job losses to trade and the rest to enhanced productivity because of automation.
…The changes are not just affecting manual labor: Computers are rapidly learning to do some white-collar and service-sector work, too. Existing technology could automate 45 percent of activities people are paid to do, according to a July report by McKinsey.”
These quotes and articles show only the tip of the automation and robotics iceberg, the affect of which is evidenced even more clearly from India’s recent down swing in IT employment. An article found on Money Control, called:“Fewer jobs, more layoffs: Why pace of hiring has slowed in Indian IT”, written on May 3, 2017, explains:
“…nearly 50 percent of all the workforce in IT industry will be ‘irrelevant’ over next 3-4 years.
… Slow revenue growth and adoption of newer technologies – cloud computing and automation platforms – have started replacing engineers…”
Automation/Robotics and Worldwide Employment Trends
Displacing human workers with technology is a major employment trend, now and in the future, yet what does this mean for employers and talent? For workers it means choosing a career that isn’t slated to be replaced by robots, and for employers it means shaping their workforce around the adoption of more automation and robotics technologies.
Employers may want to implement training programs for displaced workers, transitioning them into positions that are historically difficult to fill. They’ll also want to recruit talent that can supervise and maintain these new technologies.
Healthcare, transportation, sales, managerial, supervisory, and marketing professions, are the types of career paths talent may want to choose, as these will be less affected by automation and robotics. Of course, jobs involving the creation, implementation, and maintenance of these new technologies will be in high demand as well.
Future Worldwide Employment Trends
Although robotics and automation will replace even more workers in the future, innovative technologies are also creating many jobs in the process. The key to not being permanently displaced or losing a competitive edge as a business, is to take advantage of these technological changes as much as possible.
Future worldwide employment trends will no doubt be shaped, at least in part, by automation and robotics, yet this doesn’t have to be a negative trend for workers and societies. Of course, business and industry will benefit by reducing labor costs, yet they still need a strong economy to sustain a profit; this means businesses and workers will balance the pace of innovation, as both need to benefit for societies to have a strong economy.
Just as the world couldn’t foresee the sharing economy developing into such a large industry 20 years ago, foreseeing what will come out of automation and robotics technologies is difficult as well. Forward thinking employers and talent will pay attention to these trends though, in order to stay ahead of the inevitable shift and benefit from the changes to come.
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