Day by day automation is making our life more comfortable. If you look at your surrounding you will find that automation is used in every part of our lives. It not only makes things easier, but it also has many benefits such as it increases productivity, reduces errors, makes things faster, etc.
But at the same time, it is taking away jobs from the market. People are struggling with unemployment. Automation is used in various industries such as manufacturing, healthcare, automobile, and many more. In this article, you will learn about how automation is changing the business landscape and what you can expect in the future.
Impact of Automation on Our Lives
Here you will see how automation is affecting different industries. This will help you to take a stand in your career.
Availability of Wide Range of Products
Automation reduces many repetitive jobs from the manufacturing industry. Manual laborers who are unskilled are losing their jobs. Along with this, some semi-skilled laborers are also struggling with their jobs. Due to automation, more variety of products are now produced. As automation makes the production process faster it allows designers to produce different products. So people who are from the manufacturing industry can learn about CAD and CAM.
Inequality in Ethical Choices
Many people will lose their power to make ethical choices. Very few people will have the power to write rules for others. And automation will foster this process for a mass. This will create inequality in terms of the moral and ethical choices of individuals. No doubt, automation is doing things faster, but in some way, it is affecting the world negatively.
Productivity Will be High But Fewer Opportunities
Automation in combination with artificial intelligence, big data, and machine learning, is providing high productivity. This is good news for the business and consumers but not good for employees. Because it is taking away many jobs where automation can replace human labor.
Way of Education Will Change
The subjects which were taught earlier in institutes will change. The way of teaching and learning is also changing. The focus has shifted from conventional manufacturing to non-conventional manufacturing. The institutes are emphasizing more on subjects like CAD, CAM, robot technology, sensors, etc.
Impact on Financial Industry
Smart contracts will be used in the financial and banking sectors. Smart contracts enable us to make an agreement automatic. For example, it reduces the complexity of financial data management and detects fraudulent activities easily by keeping a record of the transaction history. Another benefit of automation is, it is easier to find the financial information of an individual for calculation of credit score.
Automation also helps traders to trade automatically using trading bots. Many crypto traders are using bitcoin trading bots for their trading purposes. Know how it works, if you want to use trading bots, you need to learn about converting your strategy into a program.
Automation will offer more leisure time for employees. As most of the repetitive tasks can be reduced so people will get more time. They can use this time in other activities like pursuing their hobbies and interests. However, it is not good news for those who are not skilled.
For sustaining their jobs, employees need to adopt continuous learning. Because job profiles will be changing all the time. So, employees need to learn new skills periodically to keep in line with the job profile.
Automation is bringing a revolution in the world. Starting from our daily lives to businesses everything is changing and will continue to change. The way we are shopping today is completely different from the way our parents were shopping. The way we are traveling, learning, working, and many more things have changed. With AI, ML, and big data more changes are going to happen. Hopefully, the above information helped you to understand how automation is changing our lives. Please share your opinion on this.