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
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
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
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
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.
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.