Risk of losing 7.50 Lakh jobs in the next 5 years
Posted on: 05/Sep/2017 12:16:31 PM
A recent survey report establishes that due to the increasing trend and growth in the field of automation and the domination of the robot operating software on the rise, there is a strong possibility of risks of 7.5 Lakh personnel, employed in the fields where less skill is required, losing their jobs.
Details of the survey report made by the HfS Research on the impact of the increasing trend of automation on the Indian IT and BPO industries:
In India, most of the companies in the field of Information Technology and BPO services (Business Process Outsourcing - a country getting jobs done in another country in order to save expenses on several fronts) have shown a keen interest in the latest technologies such as Automation, Artificial Intelligence, and Machine Learning.
These technologies will facilitate robots substituting in the tasks which can be completed without human help, and assimilation of the data inputs, and the jobs which require medium or high-level skills on decision-making. So, the personnel presently employed in these tasks may have to face the challenge of the robot software in the next 5 years.
Some decades ago, there was a threat warning that robots are all set to take over from humans, Now, this has become a reality. It has to be seen how far they will have an impact on the service industry over the next 5 years.
As per this study, it has been estimated that 10% of the personnel employed in the IT and BPO industry in India and The USA are likely to lose their jobs.
It is estimated that there are possibilities of 7.50 Lakh personnel losing their jobs in India alone. This depends on the approach of the individual companies – to what extent they plan to introduce automation technology.
At the same time, strong mention must also be made that these new technologies have also opened the possibilities of creating 3 Lakh new jobs requiring medium to high skills by the year 2022.
No need for panic
The central government Minister of state, Arjun Ram Meghwal, assured that as the Indian economy is growing rapidly, new job opportunities will be created. So, there is no need for any panic on the front of automation technology.
A different view
The report, ‘Digital Dividends`, released by the World Bank, indicates that the domination of the implementation of the automation software will jeopardize the jobs of 69% employees in India.
