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Job Automation - Coggle Diagram
Job Automation
Cons
It is estimated that half the workers currently have jobs that could be run by robots meaning they could lose their jobs in the future
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For every robot added per 1000 workers, wages decline by 0.42% and employment to population ratio goes down by 0.2. This means the loss of around 400,000 jobs
Job loss for low skilled routine workers, limited capabilities of workers and the education system to adapt to changing skills needs
Pros
Economic growth, productivity and some new jobs
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Technological Job Displacement would be a good thing as more people working in a country would boost the economy so robots would have more consistent work meaning it's better for gaining money
Technology boosts productivity, it's currently at record levels
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This transition will be better for business owners who will need to pay less for labour and earn more overall
Increased Labour Market opportunities, Good working conditions for highly qualified workers
Suggested Career Paths
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“More than 120 million workers globally will need retraining in the next three years due to artificial intelligence’s impact on jobs, according to an IBM survey.” China will be heavily impacted.
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Welding, Painting, Packaging are some main jobs that could slowly be taken over to begin with
Job loss for low skilled routine workers, limited capabilities of workers and the education system to adapt to changing skills needs
Increased Labour Market opportunities, Good working conditions for highly qualified workers
Increased opportunities for higher high skilled workers however less skilled workers will most likely lose their jobs
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