Coronavirus or COVID-19 has created a massive impact on the global economy. Companies that exist in every corner of the world are negatively impacted by this. Due to the same reason, we can see how numerous companies have started salary cuts. However, not all companies will be able to survive with salary cuts. Some of the companies will be forced to go ahead with layoffs as well. Because of these kinds of pandemic situation, the first thing in our mind is ‘Will robots take my job?’
How did coronavirus create an impact on the worldwide economy?
Before we proceed, let’s take a look at how the coronavirus created a negative impact on the world economy. Coronavirus pandemic started in China, back in December 2019. However, the world started getting to know about it by the end of January. Since then, it started spreading to many other countries in the world. By the end of February, countries such as Italy, Spain and Iran were impacted negatively by the pandemic. Now we can see how countries such as United States, United Kingdom, and Japan are dealing with the negative impacts created by the pandemic.
Coronavirus spreads from one person to another through bodily fluids. A person who is infected with the virus doesn’t get the symptoms for several days. Due to the same reason, a person can go on spreading the virus to many others. In order to cut down the rapid spread of the virus-like this, it became important to put the entire world in lockdown mode and isolate people. Due to this reason, people were not able to work as they did and numerous industries were impacted. This eventually led towards the worldwide economic crisis that we are facing as of now.
How are companies planning to overcome the economic crisis?
Companies and organizations that are impacted by the economic crisis are looking for the best solutions available for them to cut down expenses. That’s where they have thought about moving forward with robotic process automation. Robots are intelligent enough to perform some of the routine tasks conducted by people. Most of the financial institutions like CitiBank have already taken steps to replace their human workforce with software robots to reduce the risk of business continuity in these kinds of critical situations as well as reduce the cost of the human works salary.
What is Robotic Process Automation (RPA)?
Robotic Process Automation, which is known as RPA can be considered as the method on how robots are asked to perform work done by humans. The routine tasks that humans do can easily be passed over to robots. Then the robots will be able to move forward with completing the tasks. Along with that, there is no need for a human to work on it. This is the main reason why you need to be concerned about “will robots take my job or not?”
How RPA can apply for business continuity?
Due to the prevailing situations, companies have found it a difficult task to generate revenue. However, they still have to bear all the expenses. If the companies can reduce the expenses, they will be able to minimize overheads and rise again.
When you take a look at the expenses that a company has, you will notice that a considerable percentage of money is being spent to pay employee salaries. Likewise, a large amount of money is spent to provide employee benefits and facilities as well. If the companies can replace these employees with robots, they can cut down the expenses. Even if the companies start generating revenue like before, they will not come across the need to hire employees. That’s because they are generating higher profits while reducing overheads. We can expect how most of the medium-sized enterprises will go for this.
What jobs will be at risk?
Here is a list of some of the jobs that are with the highest risk of being replaced by robots. Take a look at the list and see the level of risk associated with your job.
Data entry operators
Data entry is a job that robots can do with ease. Technologies such as image recognition will be able to automate the data entry tasks with ease.
Freight and cargo agents
The job done by freight and cargo agents is at a risk as well. That’s because they are doing the same routine task on a daily basis.
Jobs of marketers are at a risk in general. However, telemarketers are dealing with the highest risk. That’s because robots and other developing technologies can replace the work done by them.
Sales workers and drivers
Advanced robots and autonomous vehicles will be able to replace the work done by sales workers and drivers. Hence, they have a high possibility to lose their jobs as well.
What will be the outcome of losing jobs?
If you happen to lose your job, you will have to deal with numerous negative consequences. You have a family to look after. You have bills to pay. You have loans to settle. If there is no other income, you will have to drown in poverty. Loss of job can even lead you towards depression. That’s because you will wonder how to overcome the payments and other commitments you have to make. In case if you come to a situation where you cannot handle depression, you will end up committing suicide.
What can you do to overcome the threat?
If you noticed your job in the list of jobs that are at risk due to coronavirus or if you sense that your job will be lost, you don’t need to worry about anything. All you have to do is to take time and improve the skills that robots cannot perform such as communicational skills. The Internet will be the best source available to gather knowledge. If you are related to software development, try to learn new technologies like Robotic Process Automation (RPA), Machine Learning (ML) or Artificial Intelligence (AI). If you are willing to start your career in RPA development, you should take a look at the RPA tools and get yourself familiar with them as well. When you have this knowledge and skill, you will be a person in demand and you don’t need to worry about losing your job because robots cannot replace your place. Ultimately, we believe that you found the answer to the question ‘Will robots take my job?’.