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When Pundits Say That Robots Will Take Our Jobs, Remember These 4 Things
A 2019 study by the Brookings Institution found that over 61% of jobs will be affected by automation. That comes on the heels of a 2017 report from the McKinsey Global Institute that found that 51% of total working hours and $2.7 trillion dollars in wages are highly susceptible to automation and a 2013 Oxford study that found 47% of jobs will be replaced.
The future looks pretty grim indeed until you start looking at jobs that have already been automated. Fly-by-wire was introduced in 1968, but today we’re facing a massive pilot shortage. The number of bank tellers has doubled since ATMs were introduced. Overall, the US is facing a massive labor shortage.
In fact, although the workforce has doubled since 1970, labor participation rates have risen by more than 10% since then. Everywhere you look, as automation increases, so does the demand for skilled humans. So the challenge ahead isn’t so much finding work for humans, but to prepare humans to do the types of work that will be in demand in the years to come.
1. Automation Doesn’t Replace Jobs, It Replaces Tasks
To understand the disconnect between all the studies that seem to be predicting the elimination of jobs and the increasingly dire labor shortage, it…
