How Will Automation Affect Economies Around The World? Where It Stands Now?
Technology is one thing absolutely necessary for the economy. It makes us think of extraordinary possibilities and even places in front of us extraordinary possibilities. It covers all aspects of our lives. Everything has now become a part of technology, whether it is electrification or smartphones. Technology has completely changed the way we use or perceive things. It has changed how we are supposed to travel. It has changed how we interchange information. It has changed how we communicate with each other.
Industries have become revolutionized, from agriculture to industrial to digital, and with each revolution, the word has also come across a different source of profound challenges.
Intellectual brains consider that the progress that is made in the vicinity of the economy is able for the creation of a society where prosperity is the prime factor. Working give structure dignity and purpose to a lights and for the above mentioned factors the workers are not supposed to be dealt as a cost of doing business but rather be considered for their productivity and creativity.
How Will Automation Affect Economies Around The World?
Effects of automation on the economy are deeply rooted in technologies such as artificial intelligence machine learning and robots. They are helping us to automate many procedures that are right now being performed by the workers. Automation has always been the key to taking economic growth to the sky-high levels of success. With the help of automation we are now being able to feed large amount of population while making the practice to adopt to new kinds of methods. With the help of automation, we have transferred from the crafting system to mass production. Automation has helped us in better working, higher wages, and more jobs and even help us to raise our living standards. The technology of automation is helping us to meet the human needs and is enabling us for the developing new jobs and industries that could only be imagined in the past few decades. So the effects of automation on the economy cannot be really ignored.
Automation has really helped economies by boosting economic growth. it is also have contributed in creating jobs and improving and making a rise in our living standards but one thing that cannot be ignored is that, it is also possessing some serious challenges for workers and communities some of those challenges include displacement instructions to local economy thinking skill need one of the many challenges one of the prime recharge balance is that it is also helping invoicing inequality.
Industries Impacted By Automation
Automation will be greatly influenced by most of the industries. Here I am listing some core Industries impacted by automation.
The manufacturing industry is considered as one of the main Industries that make use of the robots and new technologies OD automation. It is used for making products and packaging them for the shipment. Automation is used in manufacturing to assembling sophisticated items, which include electronic cars and Home appliances. Automation in the manufacturing industry has resulted in increasing output in recent years. It has been stated that in a New York Times article that that there is a production 47 percent higher than it was 20 years ago.
If you have ever gone to McDonald's KFC, you might have come across a self-checkout, and the industry of customer service is highly taking over by the use of automation. The way in which the robots or customer service are using artificial intelligence is highly advanced. They are making use of new technologies like natural language processing and machine learning that will be able to replace a real cashier to have more friendly chats with the customers intimating human speech. Sooner or later, we will not be able to tell if we are chatting with a normal person or artificial intelligence.
One of the primary Industries that has been taken over by automation in the transportation industry. We have seen new companies emerging that are introducing self-driving automatic cars each day. Tesla is one of the examples of that. And there is a very small time left when we will be seeing or witnessing our roads taken over by the self-driving Cars even Uber is also planning to acquire 24000 autonomous SUV. The transportation industry is supposed to greatly change in the future when we talk about the development that has been done. We have also seen how automation took place in airplanes. There has been an option of autopilot in commercial airplanes for a long time.
In 2030 our population will be increased by 8.5 billion, and feeding all of them has become a greater challenge. Now, scientists are searching for more ways to attain sustainability, and there is a great use of automation for that. They are developing processes and automation techniques that will be able to manage the productivity of the feels we will be able to scan trees and determine what the yield would be.