What do you think about automation? Is that a passing fad? The answer is a big no. I say this because of a simple reason. All the companies today are investing heavily in building automation system(s)? Just google it and check for yourself.
Look at companies, I mean the industry leaders. They are the first ones to know how the industry is going to evolve. They are like influencers in the business segment, they strive hard to increase share holders wealth and would not hesitate to move towards new technology. They’ll most likely be waiting for the next new technology in the market and will be the first ones to implement them.
Pros And Cons of Moving To New Technology
When they move towards new technology it creates more value for the company in the long term and helps in increasing the share holders value. Those are some huge pros for the businesses.
On the contrary, for employees it’s going to be a difficult task. And so the last thing that will be on the corporates mind will be the employees. So, all of those hard working folks will be shown the door.
Technology is developing at a great pace today and companies are just waiting to get an opportunity to try them out. And in many cases, the companies themselves have started building their own autonomous technology (automation). All of these companies are trying to automate some or most of the business process. You can look around and see what’s happening in the technology space.
Facebook, Tesla all of them are heavily investing in Artificial Intelligence. Banks have started to completely go digital. IBM is building on it’s automation system called Watson. Watson is trying to be the best doctor!
Here in the following article we are seeing that Tech Mahindra, which is the fifth largest technology company in India is planning to move towards automation by the year 2020 and around 15–20% of the company’s workforce will be affected. If you are a share holder, you should be happy. But not a good place to be an employee.
Tech Mahindra is betting big on new developments in the business like Internet of Things, big data analytics and new age tech. What’s even more alarming is this — Indian IT sector will lay off around 6,40,000 people which is the result of automation.
What is your view about automation taking over big time in most of the industries at the same time? What are your plans in the future if automation has taken away your jons? What do you think will the next generation of youngsters do when they hit the job market?
Will they be working in jobs like us? Feel free to leave a comment.