What is the future of robotics?

Where is Artificial Intelligence and Machine Learning leading us?

Will we really be living in an automated in world that will be ruled by robots?

Will human intelligence be rendered as secondary and artificial intelligence primary?

These are the questions people keep asking in the age of digital revolution. The world is experiencing a transformational shift. And instead of preparing for the future most of us are confused.

Here is a list of predictions for a future with robotics

1.     Robots will dominate the service sector

Use of automated technologies is already quite prominent in the services sector. The trend is predicted to continue in the coming years and services industry is expected to experience a huge influx of robots. It is estimated that approximately 44% of all jobs in the Australian market are at a risk of automation.

The service sector relies on a lot of repeated tasks that is why robots will be a desirable cost and time effective option for business owners to employ.

2.     Internet of Things

The world is undergoing a rapid transition. IOT is in its early stages of development globally and in Australian market. Remote device connectivity and introduction of more complex and comprehensive computing algorithms, work in perfect alignment with the automation. The emerging technologies will enable robots and machine learning software to perform tasks more efficiently.

According to a survey, currently Australia is ranked fourth in the world for active broadband mobile subscriptions. The number has increased exponentially and is tripled to what it was in 2010.

In addition to that, Australians rely on internet for almost every utility. It is recorded that on any given day more than 2.5 Exabyte of data was generated.

3.     Emergence of Peer-to-Peer marketplaces

Digital technology has significantly impacted the market structures. The access to technology has enabled the users to ditch the traditional 9-5 work environment. With the emergence of digital outsourcing platforms such as Freelancer, Upwork or Redbubble people now prefer to outsource their skills.

Companies also prefer to eliminate additional costs by hiring fewer people in the core management and operations team. Instead of hiring a permanent employee and bearing the costs, companies now prefer to outsource eh jobs on contractual basis when needed.

The concept of freelancing is still not popular in Australian job markets as when compared to other markets globally such as United States. However, Australians are catching up with the trend.

4.     Era of Entrepreneurship

With a huge displacement in the jobs market only creative skills will be able to thrive. The technical and manual aspects of the jobs will be handled by machines and robots.

However, entrepreneurial skills and idea generation will be highly valued. According to a survey conducted by Ernst and Young, currently, Australia is among the few countries that have favorable entrepreneurial eco-systems in the world and ranks fifth on that list.

5.     Big Data intelligence will dominate businesses

Businesses are increasingly integrating Big Data solutions into their operating structures. This is due to the fact that they realize the importance of data analytics. In today’s business world whoever has the access to data has the power. Demand for data engineers and data analysts is on the surge. The trend is expected to continue in the upward direction in the future.

6.     Replacement in the demand of jobs

Robots and automated machines will replace humans in various sectors. Unlike the popular belief what we will experience will not be a loss of jobs but rather a shift in the demand. In order to remain relevant in the job market human beings will have to advance their skills set. It is predicted that there will be a greater demand for skilled professionals in STEM fields.

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