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The Future Of Work: Machines Will Soon Outperform Humans

27 Oct 2016

If you regularly follow this blog you can probably tell that one of the areas that fascinates me the most is how technologies such as Artificial Intelligence, the Internet of Things, Virtual Reality and Robotics will shape the future of work. In this blog post I'll give you an example of 5 white collar jobs that are at risk of being computerised in the near future.

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As mentioned in previous blog postswe are approaching a technological paradigm shift which is fueled by the advancements in artificial intelligence, robotics, 3D printing, biotechnology and the Internet of Things.

Experts and scientists predict that the digitisation and the exponential pace of change will fundamentally change the labour force. Not only jobs such as truck and taxi drivers are at risk of being displaced by technology, but also white collar jobs such as Finance Managers, Public Relations Professionals and Human Resource Mangers to mention a few. 


The data for this table is from a briefing paper by NSW Parliamentary Research Service.

Similarly, to other western countries and developed economies Australia has moved from a production based economy to a service dominated one. This shift is according to NSW Parliamentary Research Service's report due to the digitisation and computerisation that has led to the automation of blue collar jobs, but now there is also a risk that Finance Managers, Public Relations Professionals, Human Resource Managers, Chief Executives, Managing Directors and Engineering Managers will loose their jobs too. In the table above you can see that there is a 23,6% probability that Finance Mangers' jobs will be computerised and a 15% risk that Public Relations Professionals' jobs will be computerised. 

These fundamental shifts raise a lot of concerns and issues, but it also creates opportunities for businesses and entrepreneurs that manages to decode these trends and are agile enough to adapt and profit in this new environment. For example, we have during the last 3 years seen a tremendous growth of different robo-advisory platforms such as Acorns, Fiver a Day, Future Advisor, Betterment and Wealth Horizon. The common denominator for these platforms is that they all have a genuine mission of seamlessly enabling people to make smart decisions about their personal finances. 

Is your job at risk of being automated? Check out the full report via this link NSW Parliamentary Research Service.

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