AI, Robotics, and Job Displacement
Prepare yourself
-- robots and artificial intelligence (AI) are stealing your jobs.
According to the Kazanah Research Institute, more than half of all current jobs in
Malaysia are at high risk of being affected by automation in the next one to
two decades. While this may appear to
foreshadow a decrease in the number of foreign workers, four out of five of the
jobs at risk are semi-skilled, and 90% of all semi-skilled jobs are held by
Malaysians.
Meanwhile, more
than 670,000 jobs have already been displaced by automation in
the United States. As the number of
robots is expected to increase by a factor of four by 2025, an estimated 3.5
million more American jobs will be lost.
Recent research
by the Mckinsey Global Institute estimates that by 2030, up to 800 million
jobs will be displaced by automation globally and 30% of the workforce in
economies like China, Japan and Germany may need to switch occupational
categories and acquire new skills.
It’s highly
likely that you or someone you know has already lost their job to automation. Accountants, restaurant staff (been out for
sushi lately?), travel agents, factory workers, taxi drivers, agricultural
workers and retail cashiers have all been displaced, and the list of
occupations at risk continues to grow longer.
What the science
fiction writers have told us is true: Robots are taking over the world.
Or are they? Maybe there is a reason why we call it
science fiction.
Experts surveyed
by the Pew Research Center in 2014 seem to be more optimistic about the
future than science fiction. While 48%
of the respondents predict massive job Pdisplacement, income inequality, and
even breakdowns in the social order, a slight majority (52%) predicts that new
technologies will actually create new jobs, industries, and ways to make a
living, just as it has been doing since the dawn of the Industrial Revolution.
In other words,
new technologies will create new jobs.
Just as it has
since the dawn of the Industrial Revolution, new technology will adequately
provide sufficient employment and undiscovered jobs for new generations of
workers.
Next week we’ll
take a look at new technologies through history.