Are Robots the Future of Your Business?

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Have you ever fancied having the robot R2-D2 as your employee? Some might have – but not exactly as a significant contributor to their company but a mascot rather. Well, predictions now say that in the future, robots might be slashing some of the workforce. Some experts even believe that this will be applicable to both white and blue collar jobs. With the ever expanding market for such robotics as flying drones and voice command technology, it's no surprise that speculation of a robotic type world awaits us.

The chief economist from the Bank of England talked about how half of the jobs in UK will be delegated to robots in the future. The speech was made in 2015, but the Oxford University already had the same idea in 2013 where they said that 700 types of jobs can be done by robots.

A CEO in UK in the construction industry said in her speech that she envisions seeing robots building skyscrapers in London. Several decades ago, her speech would have made her a laughingstock – but now, people bear as witnesses that robots are already being used in factories.

In the past decade, robots were not seen as a threat by employees. Why? Contrary to the belief that these would decrease people’s potential earnings as employees, technology did the contrary and increased their value since people were still needed to operate the robots. However, experts say that technology have changed significantly since then and robots are far more intelligent that the time when they were conceived. Now, artificial intelligence is allowing them to function on their own. For businesses, this could mean efficiency and lesser problems on employee expense. But what about the job force?

The Oxford University says that some of the jobs that are most likely to be computerized include the following: watch repairers, insurance underwriters, cargo and freight agents, tax preparers, photographic process workers, telemarketers, hand sewers, mathematical technicians, brokerage clerks, loan officers, umpires and referees, and library technicians.

What’s the worst possible thing that could happen if robots take over operations? If the predictions bear that much weight, then people might start thinking of building their own businesses – that could mean competition.