Benefits of Understanding the Impact of Automation on Job Markets
Increasingly, automation is shaping industries across the globe, reshaping traditional work patterns and making some significant questions concerning the future of jobs. Starting from manufacturing and logistics to service industries, machines, robots, and artificial intelligence are automating repetitive and manual tasks-the opportunities and challenges that come with this. This knowledge about the impact of automation to the labour market makes a difference both for businesses, workers and policymakers. It gives an avenue toward preparation toward the future of work, thereby helping societies reap positive benefits while trying to mitigate the risks. So, below are the most important benefits of knowing this transformation:
1. Preparation for Job Displacement and Creation
The stated effect of one of the commonly cited outcomes of automation is job displacement, which is one of the most serious problems such technology has created. Machines and AI systems also reduce labor needs in certain jobs because they can perform something better and with less break time than a human. For instance, it is estimated that up to 85 million jobs could be displaced by automation by 2025, particularly in the manufacturing, transportation, and data processing industries, based on a 2020 report from the World Economic Forum (WEF). It is also true…
