In the current job market, people have to compete against each other to get a decent job. It is already very competitive.
What will happen when they have to compete against robotic devices that can perform the same work with much better precision and doesn’t need to be paid?
They simply can’t.
It’s quite clear that some jobs will disappear forever due to automation. But which one will be the first to go? Here are our top 5 picks.
1. Data Entry
Data is perhaps one of the most important company assets nowadays. As such, having accurate data is essential.
Humans simply can’t compete with computer software and programs when it comes to data entry, data processing, and sorting. The entire process will be more streamlined when companies move on to automated data entry system.
There is still some need for manual data entry for historical data. However, in the long term, that need will also dwindle and there will be much less demand for manual data entry.
2. Insurance Underwriting
The role of an insurance underwriter is to check the application of those that apply for insurance. Using financial information presented to them, they can determine whether they can accept an application or reject it.
At the moment, the review process is already somewhat automated by having customers entering their data directly into the system. There are software and apps that can review their applications based on set metrics.
With machine learning, computers will grow to be much smarter and will one day take over the role of an insurance underwriter. There’s simply no room for competition.
If you want to know how badly translating is at risk, just use Google Translate. Although the translation provided by Google is still quite rough right now, it is usable and is improving fast.
In addition to text translation, the rise of image and voice recognition programs allow even normal users to translate audio scripts/documents words for words.
Again, with the breakneck pace of machine learning development, translators might be out of work soon.
Many restaurants and casual dining establishments have brought automation to their tables. Customers can now order directly at the table through a computerized user interface and have their food delivered directly to their table.
This effectively eliminates the need for food servers and waiters. Although human interaction won’t be gone completely since machines can’t handle customer service, there will be a sharp decline in demand for waiters and waitresses.
Similar to an insurance underwriter, an accountant’s job is to take a client’s financial data and compose them into meaningful information. That kind of work can be done a lot faster and more effectively by a computer.
With the rise of software like Quickbooks, MYOB, and several other accounting software, the demand for an accountant began to decline. Imagine having software that can learn all the intricacies of accounting and handle all the accounting work in a flash of an eye.
It will still take a while for machine learning to be as smart and effective as human accountants. However, when they are, accountants will find themselves out of a job.