INTELLIGENT AUTOMATION-If you have been keeping up with the news lately, automation and AI are all the rage. Advancements in AI is happening at a staggering pace and it is helping small and large companies automate things that were once done by humans.
Is RPA moving too fast for you to change your CV? It depends on what you do for a living, how old you are, where you live and your educational credentials.
If you perform routine tasks or are employed at deductive inferential tasks that are associated with the knowledge industries, yes, your job and career are at significant risk. AI and RPA will absolutely, positively threaten your job, your career and your very own professional existence.
The Risk Parameters
How old are you? What do you do? Where do you live? How much and what kind of education you have? Will define your risk profile. Research firm McKinsey & Co. predicts that AI in totality will eliminate about 77,000,000 jobs over the next 20 years thus by 2030, 75 million to 375 million workers that are 3 to 14 percent of the global workforce, will need to switch their occupational categories.
The same research suggests that lawyers, financial managers, physicians, surgeons, pharmacists, computer and information systems managers and teachers are among the professions least likely to be automated.
These concerns arise when we have seen massive traction into the intelligent RPA investments surge over the last 6 months. Automation Anywhere won $300 million; UiPath raised $225 million from major investors at a $3 billion valuation, Kryon bagged $40 million, Intel Capital led a $30 million investment in Catalytic, Softomotive scored $25 million while FortressIQ attracted $12 million in funding.
History Gets Repeated
The impact what AI will have on our society could be very similar to what has already occurred in the Industrial Revolution. Prior to the late 1700s, people were manufacturing products by hand in their homes. The Industrial Revolution brought a wave of mass production factories that used special machines to make products. The changes that came from the first wave of the Industrial Revolution caused a bifurcation in society and social class.
At the start of this revolution, progress was slow and improvements to the quality of life were nearly non-existent. There were almost no laws or regulations for this new manufacturing era in which roughly 80 percent of the workforce would be considered working class. This led to terrible things like child labor, poor living conditions, high unemployment and decreased quality of life. People with money and power thus benefitted from this anarchic social system.