Is Robotics the New Entrepreneur?

Is Robotics the New Entrepreneur?

Is the technology that made the Terminator close to being a reality? Robotization in the workplace, after all, has taken over more than just factory production lines. They are present everywhere — from phone voice assistants to smarter kitchen applications. Automatons have, in fact, proven that they can take the place of humans in certain job areas and be a thousand times more productive at it.

While robots have taken over some jobs and dramatically increased productivity, they are still far from taking over human jobs completely. In a rapidly changing world with increased demand for products and services, robotics is a valuable asset to mankind due to their ability to work efficiently.

Workforce Automation has been Present for Years

The development of robotics is more than just a by-product of the Technological Age. For over a century, different industries have used automated systems. While it has affected employment rates, it has also led to more efficient methods of processing. This includes the mass production of cars, equipment, and clothing.

Another example would be the agricultural sector’s shift to automated systems. Farming has progressed from utilizing raw horse and manpower to the Fordson tractor and, at present, self-powered combines and chemical fertilizers. In terms of glass production, glass-blowing started off with two men blowing 2,880 bottles a day. With the introduction of automatons, glass production has gone up to 17,280 bottles a day. In the telecommunications field, meanwhile, there has been less and less need for phone operators, due to the automation of telephone switchboards.

Further Growth of the Automation Industry is Imminent

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Robotics has proven very useful to facilities that require technical, repetitive work, putting an end to a majority of routine manual jobs. In fact, there has been a decline in the employment rate in different labor areas in the U.S., including machine assembly lines, production, transport and farming, and retail, because of automated systems.

Investment in artificial intelligence and automated technology has increased every year. With about $587 million spent on investment for automations in 2015, experts predict the amount will grow to $135 billion by 2019.

The Future of Employment

In spite of the rise of the robot entrepreneurs, there are still industries that are not dependent on automatons. Areas such as finance and public safety are seeing annual increases in U.S. employment share, in fact. Service occupations are likewise one of the fastest growing parts of the U.S. workforce that depend minimally on robotic systems.

Service work is a job that requires certain cognitive skills not easily programmed into an automaton. So, commercial enterprises that provide intangible products to customers, such as education, insurance, treatment, and banking, are relatively free from robotics in the workplace. Furthermore, service work requires employees to adjust depending on the needs of their clients — a skill that automatons are still incapable of reproducing. Aspiring entrepreneurs, then, might want to consider investing in the service business as its labor force is safe from displacement by robots and automatons.

As robots still have a long way to go before being able to totally replace humans in the workplace, they aren’t a threat to manpower and employment. In fact, they have made the jobs of thousands of workers easier. Instead of making grim predictions about the automation takeover, entrepreneurs should seize the opportunity to invest in industries not yet saturated by the robotics market.