85% of the jobs in 2030 haven’t been invented yet, says Dell Technologies, but what does that have to do with the future of the job market and working in general ?
With the rise of mass automation and increase in the development of robotic technology, the need for workers will decrease. In a paper published by an MIT and Boston University professor, about the future and present impact of mass automation, it said that for every 1 robot added to every 1,000 workers, wages decreased by 0.42%. This number will most likely continue to increase with the growing need and want for mass automation.
Robots and automation
The increased usage of robots and automation has had a positive effect on productivity with a decreased need for human labor. Jobs that once were held by humans are now done by robots or automated machinery can be done faster. This doesn’t exactly mean that in the future there will be less jobs but instead the type of jobs available will be different. These new jobs may be operating or overseeing automated machines.
A large factor of the changing job market and impact of machines is the increase of interconnectedness. There has been development to using the internet to connect machines in order to increase productivity.
This increase of mass automation could increase unemployment because of the decreased need for workers, this could also mean an increase of data collection and impact on people’s privacy.
In the same paper, they also found that adding 1 robot to the work force decreases the number of workers by 6 in an area. This could be a worrisome trend in the future with the increase of new technology.
The future of automation
There could be positive benefits to mass automation like a possible reduction in prices of products. However, it seems that the increase in profits due to this new technology doesn’t exactly mean a shared increase in capital among the working class.
Though, it’s unclear how this increase of mass automation and new technology will impact the job market in the future. It’s important to increase education on new technology. Learning how to operate these new types of machines will be a great tool for the ever changing job market.
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