Advancements in modern technology have greatly influenced the world of work in the 21st century. Digital transformation has taken over our workplaces, and the evolution of robots has made it easier to get work done faster and more efficiently, leading to greater productivity.
Technology is undoubtedly dominating society. There’s a software for virtually everything you can think of, and it doesn’t just stop with intellectual office tasks, there’s even software to help people write music! Music lovers can benefit from music writing software such as Notion 6, MuseScore, and MagicScore Maestro 8.
Automation offers a cheaper and less complicated method of getting things done. It has also made it possible for workers to bypass repetitive jobs. The big question, however, is, at what costs? Could the use of robots in our workplaces be a kiss of death for human workers? This has been the concern of many workers over the past few decades. There is a serious concern that the use of robots in the workplace could push countless workers out of their jobs.
How Many People Are Worried About Losing Their Jobs To Robots
The advances in artificial intelligence (AI) has left many workers breathless with fear of losing their jobs due to automation. More than half of US employees are afraid of losing their jobs to robots. A recent survey conducted by MindEdge Learning reveals that 52% of employees in the US who work in companies that have adopted automation are concerned about robots taking over their jobs.
The quarterly CNBC/Survey Monkey- Workplace Happiness survey also reports that 27% of workers say they are worried that their present jobs could be eliminated within the next five years. The survey reveals that fears of job losses due to automation is more common among younger workers as 37% of workers between the ages of 18 and 24 years are more concerned that robots will take their jobs.
According to Laura Wronski, who is a senior research scientist at SurveyMonkey, although workers between the age of 18-24 years understand that technology can have positive impacts on work, they are concerned because they envision vast potential changes in the nature of work over the course of their lifetime. The survey also revealed that there is a correlation between income and fear of job loss as 34% of workers who earn $50,000 or less are more worried about losing their jobs to automation.
The fear of job losses due to automation is even higher among workers in industries that have already tasted the negative effects of technology such as advertising and marketing, automotive, business support, and retail industries.
Professions That Are Already Being Occupied By Robots
Research shows that about a quarter of jobs in the US are at risk of being automated. The risk, however, differs according to professions; some professions face a higher risk of automation than others. Many professions are already facing job losses due to automation. Some of these include the advertising, marketing, and automotive industries; but the list doesn’t stop here. We have compiled a list of other professions that are already feeling the impact of automation.
1. Insurance Industry
Workers in the insurance industry have started feeling the heat of automation as human workers are already being replaced with robots in this sector of the economy. An insurance company in Japan (Fakoku Mutual Life insurance) has already replaced 30 workers in its medical insurance claims with robots. These robots can analyze and interpret data far better than a human can, and they take much lesser time to complete the task.
2. Bank Representatives
Another profession that is currently being taken over by automation is the banking industry. With the introduction of the ATMs and smartphone apps, many bank tellers lost their jobs due to a huge decline in the number of people who visit the bank daily.
Workers in this industry still face a high risk of losing their jobs because, with the introduction of AI, cash transactions, account opening, and loan processing can now be done by robots. Since these robots make the process of carrying out tasks easier, faster, and more efficient, they are more likely to push bank workers out of their jobs.
3. Financial Analysts
Artificial intelligence financial analysis software is already putting many financial analysts out of jobs. Banks can now use financial analysis software to read and understand financial trends and predict future market possibilities. This was the job of human, financial analysts, but it’s now been threatened by a stiffer competitor.
4. Manufacturing Industry
Workers in the manufacturing sector are already losing their jobs to robots. Robots can easily carry out the tasks done by workers in this sector; they do so even more efficiently than human workers. This explains why some manufacturing industries are already replacing some of their workers with robots.
Even writers are not as safe as most people thought. AI is now used to write reports in many media firms. There is a possibility that in the nearest future content sites could exist without human writers.
Further Forecasts On The Impacts Of Robots On The Labor Market
Research conducted by McKinsey Global Institute estimates that 75 million and 375 million jobs could be eliminated by automation by 2030. This means that 3% to 14% of workers globally are at risk of unemployment due to automation. (Source: McKinsey Global Institute).
The survey further revealed that by 2030, as much as 33% of the global workforce might have to pursue new professions in different sectors of the economy. According to reports from the UK Office for National Statistics, 1.5 million jobs in the UK are at risk of automation.
With the recent COVID-19 pandemic, the fear of job losses has increased because the use of automation in workplaces has accelerated as companies struggle to avoid infections in the workplace. About 40 million jobs were lost in the US during the pandemic. Experts estimate that 42% of the jobs lost will never be restored. This justifies the increasing fear that workers have of losing jobs.
Robots are gradually but steadily taking over the jobs done by human workers. The best strategy to ensure your job is secured is to adapt and learn how to work with them. While you may not be able to carry out the same job you did before robots were introduced, you can supervise the robots while they work, this way you are sure that your job is safe.
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