A guide to survive in today's world of automation
Guide to surviving ai and automation, something we must discuss before it's too late. In our last blog, Automation using Robots, we discussed the ways in which you can positively embrace Automation. But, embracing it and accepting are two entirely different things. While the last blog deals with reasoning for accepting it, embracing and surviving automation will take some effort. Surviving the automation age will come with a lot of minor adjustments in the way we perceive and approach the jobs. Choosing careers that better suit your passion might help. You may read the blog here
With an increase in the number and availability of HR platforms, the job market has had a shift in terms of recruitment and employee engagement. In this digital age, automation is going to bring about a renaissance in terms of the jobs that we offer and new niches, which we explore. This guide will help us find out more.
Guide to survive automation
How will the job market change?
When we talk about change, it is essential to make peace with the fact that it is arriving sooner than we anticipate. There are a lot of factors that will play an important role going ahead with automation. Many systems are already in place and have been influencing the job market for quite some time now. For example, LinkedIn has become the go to website to perform background checks when professionals apply for new jobs. Many social media websites also have a great influence on the job market. Job announcements have come a long way from the classifieds posted on newspaper to right into your social media feed, haven’t they?
So, coming to what changes to expect in the job market. It will greatly depend on the country you reside in. A study conducted by McKinsey Institute across 800 occupations in 46 countries predicts that about one-fifth of the global population will be affected by the automation wave.
While the workforce in major economies will experience greater automation, workforces in growing economies will see lesser action on the automation front. About one-third of the workforce in developed nations might need to undergo retraining for change of profession. The report also mentions that machine operators and food workers will be at the receiving end of major cuts.
The post automation era
The first industrial revolution, at its end, brought a paradigm shift in the standard of living for the ordinary workers. This was not an immediate transition, nor was it a pleasant one. The transition period witnessed miserable working conditions inside factories, poor housing, insufficient wages and even child labour.
During what is dubbed the “fourth industrial revolution” by the World Economic Forum, some adverse effects are expected. Temporary labour displacement, reduction in wages and in some cases, even pain to a certain class of workers are some of the expected adverse effects.
However, if you have an optimistic outlook you might feel the world economy might recover from this short term adjustment period. Also, there are some pessimists who suggest that it is difficult to get back on your feet if you lose your job to technology.
Their worry stems from the fact that in the past couple decades the gains from all businesses have gone to the owners and not been distributed among the employees. The silver lining in this cloud on automation is that these concerns can be majorly dealt with by enforcing some policy changes. Getting ahead of these problems should be easy once we put proper policies and not blame technology.
In the past, new jobs were balancing the economy and compensating for the disruptions in technology. A concern to this will arise if too many periods of disruptions arrive back to back. This might mean there is less or even no time for recovery of the economy.
Wrapping up our guide
Displaced workers due to industrial automation are easily identifiable. However, it's a little harder to find jobs that are here due to advancements in AI and technology. These are across different sectors and geographies. Observe the investment trends and current spending. We can outline these guidelines as to which fields should you start gaining knowledge and training about.
- Emerging economies will see a lot of push towards consumer goods, both produced by these countries themselves and those that we import.
- Healthcare and allied sectors will see a great growth as the overall population is ageing. A McKinsey Institute survey says that by 2030, there will be 300 million more people over the age of 65 and older as compared to 2014.
- With new technology, there is always a need for development and deployment of said technology. Getting ahead of the curve here by embracing the technology now is a good path to tread.
- Investments will continue pouring into infrastructure development to support the new technologies as they arrive. If you are an employee in the infrastructure industry, great things might be coming your way soon.
- The renewable energy market has started to see an uptake in the investments received over the last 5 years. With industry leaders shifting focus towards renewable energy, this sector will grow at a great pace.
It is too early to comment on job security. You should always be looking towards the future of work and all the possibilities it brings. If you are interested in finding out if we are future ready, check out Engati's chatbot platform here.
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