Most of the jobs that a large part of the population makes a living from today could potentially be automated. Emerging technologies are transforming the way we work, taking over process-based roles and opening up opportunities for new forms of independent work. Much of today’s technological progress is moving in this direction. Machine learning, 3D printing, automation, big data, robotics, and other new ways of working are automating functions and sectors (as seen in the rise of fintechs, legal techs, and every other kind of tech) with the aim of optimizing products or services and gaining productivity and profit. A good example is law firms, where automation software is replacing a large share of tasks. Besides analyzing millions of documents in seconds, these “robots” suggest decisions to be made and flag any change that might affect cases. The nature of work is changing, and this state of flux, like any period of transition, is causing natural anxiety around the world. The development of automation has brought the promise of greater productivity and, along with it, economic growth, more efficient services, safety, and convenience. There is no competing with machines that are programmed not to make mistakes, to use only the resources needed, and to create better-quality products and services. What we can do is work on developing these technologies, or in sectors allied to them, for better purposes.
Productivity growth with advances in technology. Source: http://www.mckinsey.com/global-themes/employment-and-growth/technology-jobs-and-the-fu ture-of-work Many of these things can already be seen in services that can be done directly from a cell phone at no cost, for example. The concern revolves around unemployment and how those who are already being replaced by machines will belatedly gain the skills to access the careers that will take their place. A 2011 study by McKinsey’s Paris office found that, in its first 15 years, the Internet destroyed 500,000 jobs in France but, at the same time, created 1.2 million other roles in their place. In other words, 2.4 thousand jobs were added for every position that ceased to exist. Of course, the law of supply and demand still prevails here: as long as there are better and cheaper professionals for certain roles than the investment in automation technologies, the work will not be replaced. These technologies will, however, become cheaper one day. Until then, we need to be prepared to deal with this new reality and, above all, to train those who are not yet part of it.
Prefer the whole book?