Robots cutting down jobs. Robots replacing humans

Are Robots Going To Cut Down Human Capital In Near Future

The current world scenario is such that many jobs and workplaces are being run on artificial intelligence or with the help of robots, resulting in the downsizing of the human capital in these sectors. In the present, we can only suspect that one of the key factors of down wages is the areas where robots are replacing human workers.

The work that a robot can perform in an industry reduces the requirement of human capital by 5-6%. The drop in wages through the employment of robots is estimated to be around .5-1% per annum. This transformational effect on the market scenario will tend to increase and remain so due to the high rate of dependency on the accuracy of artificial intelligence. Besides the accuracy, the efficiency with each passing day is developing to a great extent that is helping the capitalist environment to bloom like the golden age.

If the dependency on artificial intelligence or robots comes to a blind spot then not a single field of jobs will be secured for the human race. But if the spread of artificial intelligence is contained within certain limits and boundaries then the job market can be stabilized for a longer period in the near future.

The current rate of increased robot employments states that there is the chance the employment market will see downsizing by 1.5-2% and people will be willing to work for lower wages ranging between 2-2.5%. these figures are being drawn by keeping the current economic scenarios of the world despite the increase in robotic workforce.

However looking on the bright side when it comes to the human capital segment one can be sure that these robots can only function as and when they are programmed. This programming can only be done by human capital to make the working of the robots hassle-free and user-friendly for the clients. Again there are certain areas where robotic intelligence can play a part but not take over completely such as education industry as all students understanding capability varies. The areas that will be greatly affected by this is the garment and automobile industry where there is already a wide use of artificial intelligence.

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