It is now a fact that technology is replacing the traditional job and you could be the next victim unless you up your game. Labor is not getting any cheaper and technology is offering the best solution in the workplace. However, you need to be ready for the transition which is unstoppable.
Over the years, innovation has been taking the efficiency route and those not fast enough will lag behind and become obsolete. Stone Age was replaced by bronze and the entry of iron saw job losses in the bronze era and the evolution has never slowed down but instead continue to be fast a and furious.
Industrial Revolution Craze
Like any new invention or technology in the market, the industrial revolution craze had its own benefits and required workers to develop select skills that were in high demand until automation set in. Bank tellers were replaced by automated teller machines, parking lot attendants were rendered jobless and travel became automated.
According to CNN Money, the rate at which technology and globalization is affecting jobs in a wide range of industries. Low wages and less restrictive lows are driving multinationals to outsource their workforce from countries where wages are low.
The Era of Computing Power
Since 1997, the manufacturing sector has been the most hit with job losses and this is not the only sectors where this is happening. High skill jobs are also being taken over by robots and machines. More interestingly, since1965, computing power has been doubling every two years and this power can now fit into your smartphone through a minute chip!
This has ushered in a new phase in technology, Artificial Intelligence (AI) that recognizes your face, language and can even compose music. This is shifting focus from human labor to machines. The era of driverless cars is here with us. The healthcare sector has not been spared either with jobs like scans, biopsies and surgery procedure being taken over by machines.
Machines can now follow recipes making the thousands of cooks obsolete. In the next 20 years, 47% of all jobs will be taken over by machines and this means 70million people will be affected. Low firms, for example, are turning to blockchain technology’s smart contracts.
The transition is Inevitable across the Board
If you are scared of change and not ready to develop new skill sets, technology is soon catching up with you. The transition will cut across the board and will affect both the young and old; whether you are in the formal or informal sector, the reality is soon dawning.
The speed at which technology and globalization are progressing, it is going to change how you work and this will trickle down to the community you live in, your family and your social connections. It is about time to start moving in line with technology trends; always stay competitive before you are rendered jobless by technology.