Automation is Going to Impact Your Job in 3 'Waves'

By Olga
Subscribe to GoodReturns
For Quick Alerts
Subscribe Now  
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    A study conducted by PWC (released 6 Feb, 2018) explains how automation is going to impact the employees of different sectors and when. It has identified three overlapping "waves" of automation that will hit jobs around the world.

    The research is based on an analysis conducted on skills and tasks of 200,000 workers across 29 countries. These waves will hit you between now and the mid-2030s. The biggest impact will be expected to hit between the late 2020s to mid-2030s.

    1. Algorithm Wave

    1. Algorithm Wave

    The first wave that will have an impact up til the early 2020s is going to automate relatively fewer jobs as many technologies are in their early stage of development. Automation in data analysis and simple digital tasks like those in the financial, technical, information and communications service sectors will be affected.

    2. Augmentation Wave

    2. Augmentation Wave

    Expected to hit in the late 2020s, this wave is focused on repeatable tasks and information exchange automation. Development of Artificial Intelligence (AI) and robots might lead to affecting as much as 20% of jobs. It will affect most sectors but is likely to affect financial services the most in comparison.

    3. Autonomy Wave

    3. Autonomy Wave

    By mid-2030s Artificial Intelligence (AI) is expected to analyse data from different sources, make decisions and take actions with little or no human help. The research says that it will affect 30% of jobs, as number of robots and driver-less vehicles rise. Jobs in sectors of manufacturing, retail and transport will be highly affected.

    Women and less educated to be most affected

    Women and less educated to be most affected

    Due to the nature of jobs held by women population, they are more exposed to the risk of losing jobs on account of automation than men who will experience the hit in the mid-2030s.

    Also those with below graduate level of education involved in repeatable and manual jobs will be replaced by AI and robots. Jobs like driving, warehouse management, data processing will not longer require a greater share of human involvement.

     

    Newer Jobs

    Newer Jobs

    Automation will no doubt replace traditional jobs, but it will boost productivity, income and wealth. It will in turn generate the need for human resource in more complex jobs that associated with automation. This will eventually offset the jobs lost through automation.

    Read more about: automation employment
    Story first published: Thursday, February 8, 2018, 17:16 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more