Automation in processes is the name of the game.
With each passing day, robots get better and smarter than ever before.
This is not surprising given the rate of human errors we get with manual processes.
Now it seems like robots are headed to even more lucrative careers.
These replace intuition with algorithms, plus they require no food, sleep, wages or vacations.
No wonder there is every likelihood of machines replacing us humans in workplaces.
Carl Benedikt Frey is the co-director of Oxford Martin Programme on Technology and Employment, who believes that the choice of automation in processes comprises some aspects.
These could be such things as regulations, consumer tastes, capabilities of technology and the cost of capital versus labor.
Face to face interaction may be significant in some cases, especially those which require a frequent change of tone, mannerisms and mindset.
Imagine robots taking over the jobs of artists, doctors and psychologists in this regard.
Of course, employing robots also works wonders for employers. For example, the machine could go on working for the entire day without any mood swings and still make minor mistakes compared to human beings.
Interestingly, the real breakthrough we have had is in the shape of data.
Frey confirms this in the following words: “I do not think that anything is dramatically different from two years ago. What has happened over the past ten years, however, is that more big data is becoming readily available for algorithms to draw upon, and approaches to machine learning have become more sophisticated.”
Frey was generous enough to highlight some fields that might be the target.
He pointed industries with the greatest share of jobs as the targets.
These comprise the food and accommodation sector, finance and insurance, retail, transportation and warehousing along with the wholesale trade.
Editors and journalists rank quite low on the table, so that’s good news for those who are reading.