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Job prospects under threat from robots (2)

It is not just professionals in the legal, accounting, insurance and financial services that will see jobs disappear as technology and artificial intelligence (AI) advances, jobs in banks and offices, retail, and manual laborers will also see their job prospects decline according to industry experts.

The ATM machine is able to conduct round-the-clock banking services such as cash withdrawals, check balances, credit mobile phones, accept payments without the need for a human bank teller. Next generation ATMs will be capable of doing everything from dispensing cash to accepting deposits and transfers to selling products such as loans and new accounts. A financial software expert says that AI can do approximately 90 % of what the human being can do, and it’s going to be your branch in a box.

Financial analysts, indispensable to a company, cannot compete with AI financial analyst software that can read and recognize trends in historic data to predict future market movements. This job might be lost to AI in the next five to 10 years.

Robotic bricklayers, SAM (Semi-automated-Mason) can lay up to 1,200 bricks a day, compared to the 300 to 500 a human can do. While a human is still required to work with SAM to complete the more nuanced tasks, the use of SAM reduces the need for the three other bricklayers it would take to do the same job. Manual labor jobs are also under threat by automation.

Tally, an AI robot, is designed to audit shelves for out-of-stock items, misplaced items, and pricing errors. Tally roams the aisles in a supermarket and uses multiple sensors to scan the shelves, doing the job of inventory managers.

However, workers should not be overly worried. Advances in robotics and AI should also create additional jobs in less automatable parts of the economy. (Floro Mercene)