Automation is enabled by a multi-pronged approach to technological advancement, including artificial intelligence development, robotics, sensors and cloud computing systems. In this area, views are deeply divided, with supporters and opponents across the spectrum.
Many workers are fearful of the consequences of workplace automation. Employers fear that computers will make workers redundant. As this technology has not realized its full potential, it is hard to see how people will be affected when the time comes. This area of research, like any other, is peppered with benefits and disadvantages.
With an improved inspection cycle, the automated assembly line allows the assembly output to be more predictable and efficient. Although recent, it will truly be a core idea in all industries.
Automation in the future uses autonomous vehicles using AI technologies to increase current transport systems and networks. There are efficient learning algorithms and cheap sensors on the market in short order. As we transition to driverless cars, cities and networks must adapt to these brand-new technologies.
There is a need to update outdated structures and services, which alternative possibilities will arise. Robotics also brings in a massive divide between the technology-enhancing countries and those that sleep behind in isolation.
If we were to automate rapidly, our human jobs would have to be repented, our whole value structure redefined and the philosophy we are dealing with revamped. For example, many view capitalism as a driver of innovation but in the future scenario, the underlying theory may encounter some problems.
The theory of capitalism is that economic growth and productivity gains contribute to more demand and eventually lead to higher incomes, thus having a positive impact on society’s economic overall well-being.
In full-automation, corporate monopolies that have generated or gathered more data from such automated systems will inevitably add resources and capital, and thus undermine the rational assumption, because there would not be enough human workers, or improvements in productivity. As a result, it will inhibit the drive for growth and consumption.
Written by: Jimmi Chandra