Close
Techjury, in a recent blog, mentioned the numerical digits of robots available in the market to have gone as high as 4 million. On the same note, it also says the apprehended loss of over 85 million jobs worldwide to Automation. The year 2022 witnessed many layoffs of employees by various IT companies and MNCs, raising an alarming concern over the potential absence of employment. Essentially they were replaced by automated gadgets and robots. The news has cloaked people with the fear of jobs being swamped up with AI, ultimately leading to massive unemployment. With AI tools bushwhacking almost all industries with powerful strokes, concerns regarding vanishing manual jobs are inevitable.
As has been stated umpteenth times, every coin has two sides. The appalling concern over the complete automation of markets and jobs is only one side of the story.
Historically speaking, technological breakthroughs and innovations of the past stand testimony to the fact that technological growth always accelerates the scope of employment. Tripping back to the industrial revolution of the mid-19th century in Britain, we can trace the surge of jobs. Despite the oncoming factories and machines apprehended to loot people for their jobs, it eventually created more opportunities.
The development of the Web and technological innovations have paved the way for various online services. From e-shopping to e-bookings, booking flights and hotels became much easier with a single finger tap. The onset of e-services has put a full stop to all the offline services which humans earlier did. Loss in retail shopping, along with music studios and printing industries going on the decline with everything going digital, awaken genuine fear of jobs among the masses.
It’s not to say that technological advancement doesn’t automate or mechanise jobs but often, the situation is less bleak than it seems.
As AI progresses and substitutes for manual work, it also paves exponential possibilities in its wake. In the arenas where AI is replacing humans, humans can take over during emergencies, breakdowns or unprecedented malfunctions. Also, all these technological advancements didn’t happen in a vacuum; they were all carried out and driven by humans. Implying that we will always need humans around, no matter what; there are some jobs that only humans can be entitled to do with finishing and perfection, including that of doctors, teachers, counsellors, etc.
Although the e- shopping eliminated some retail jobs, it didn’t vanish all of them. The statistics recall that WWW helped create as many as 100,000 jobs in the late 90s.
Although TVs, cassettes, and smartphones reduced the number of live performances, they made music accessible and cheaper. This ultimately boomed the business, profiting many indie artists struggling to make a living.
In the long haul, technology only reduces the cost of production and increases efficiency by utilising marginal resources. Human resources are an essential element that can be invested in major enhanced jobs.
Any technological development indeed abolishes jobs, but as adverse as the loss seems initially, it is only short term. In the long run, more jobs and opportunities are created than it has been lost. We don’t know what these will possibly be, but the sector is sure to increase the demand for human hands to assist and monitor the automated services.
The descending fear of mass employment with the onboarding of AI tools and robotics in the market so smoothly can’t be deemed unnecessary. It is, in fact, accurate and, indeed, alarming for a loss of a living that people might witness in the short run. But as seen from past trends, all technological growth eventually creates more opportunities than it has swallowed.
However, the loss would reign more heavily on companies and firms driven by highly outdated technology. Embracing new ideas and techniques and keeping in sync with the development saves you a bundle of loss. Companies should utilise automation, workshops and training to catch up with advancement that can give them an edge.