Automation and artificial intelligence are probably the most important trends that will change the economic world as we know it and might be the best solution to two important challenges:
- the difficulty in finding qualified and reliable employees;
- the higher pressure on profit and shares performance.
Automation might be the only long-term solution to these challenges since it increases productivity and efficiency and decreases dependency on human workforce.
Indeed it brings the problem of probably destroying more jobs than it generates, but no one can stand in the way of progress. And this might be the new industrial revolution.
It takes several forms, from industrial robots and driverless cars to RPA (Robotic Process Automation) to name just a few.
Several studies are trying to estimate the impact of this revolution and it is impossible to make an accurate prediction. Gartner estimates automation will create 2 mil. jobs worldwide by 2020 and will destroy 1,8 mil., The International Federation of Robotics predicts the creation of 1.9 mil. to 3.5 mil. jobs by 2021 and robot-driven productivity accounting for 10% of total GDP growth over 14 years and McKinsey seems the most optimistic with the creation of 555 mil. to 890. mil. jobs by 2030. Also McKinsey considers that 50% of current work activities are technically automatable.
Of course some jobs are more in danger than others, more details here, but one thing is clear: automation and AI are here to stay and is our decision to deny the trend or embark this train sooner than later and be an early adopter.
This will not only give us a competitive edge but might help us navigate through difficult times and deliver results shareholders and employers are waiting and pressuring for.
So let’s innovate through automation and AI!