As long as we live in capitalism, the drive for profit maximization will continue the need for automation and Artificial Intelligence (AI) which will unlikely cause that the majority of professions will actually disappear but the number of jobs for humans will probably cut down. For example, it doesn’t sound fantastic that one person with AI/automation will be able to do the work of 1,000 people.
Some industries have already been hit very hard by this. For instance, the majority of financial traders have lost their jobs over the past 5 years to AI. It’s mostly the algorithms of major investment banks’ daily trade in stock markets nowadays. Humans in those organizations mostly no longer trade. 90% of the traders in the world lost their jobs within as little as 5 years.10% surviving have shifted to brokerage services because their tasks had already included certain brokerage related tasks even before the transition. Here comes the question – how not to get in the position of those 90% traders?
First, look at your own profession and analyze your own job in terms of the tasks you handle.
Then try to make a prediction and understand which of your tasks can be automated. Whatever you think can be automated, it will be most likely automated. Just a matter of time.
Finally, those skills that you think can’t be automated, bank on them very hard now. Make no mistake, they will be automated too but probably in a very distant future which you don’t have to worry about it for now. So, you have to develop all the relevant skills you can around those tasks, get every certificate you can, accumulate experiences that are hard to get, because when the transition starts, you already want to be the most qualified candidate for that new era where millions of people compete for just a few hundred roles.
This article is not about how to frighten you, it is about warning you because the day of taking action is today. Before that transition starts for your own profession. The financial traders who saw this trend very quickly moved to dealmaking or brokerage services, the ones who couldn’t see the transition, ended up not just unemployed but also unemployable.