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The Brooking Institute published a study identifying that 25% of the jobs in the US are under high risk of Automation.
And virtually all jobs will eventually have some portion of its tasks automated in the future.
This boils down to the characteristics of tasks.
Machines are better suited for tasks that are repetitive or well understood, and therefore more easily codified.
Now, before you panic, it’s important to point out that this is the potential for Automation.
How much and how fast companies adopt automation is more complicated to identify.
And many barriers prevent automation adoption from meeting its potential.
The barriers include technical feasibility, deployment challenges, labor competition, regulatory and social barriers, among others.
So, with that being said, let’s take a look at the industries with the highest risk of Automation identified by Brooking.
Accommodation and Food Services are at the most risk by a steep margin at 73% automation potential.
We covered the food industry in episode 1, so today, we are going to zero in on manufacturing.
Manufacturing jobs in the US have already faced a dramatic decline from 2001 to 2010 after China joined the World Trade organization.
It lost six million or about one-third of its manufacturing jobs during that period and has since rebounded by around two million.
And according to Brooking, the industry could face another decline in the coming decade.
The US installed a record number of industrial robots in 2018 at over 28,000, which is 16% more than in 2017.
That number fell to below 24,000 in 2019; however, it’s expected to jump back to 2018 figures by 2021.
The important part is that the robots are spreading beyond automotive manufacturing, which has been the primary application of industrial robots.
The electronics manufacturing has become the 2nd most significant segments for industrial robot adoption behind automotive.
Industrial robotics has advanced over the years to the point where they can now work with small delicate parts with precision.

And this blew the doors open for electronics manufacturing to automate.
The robots in electronic manufacturing can be deployed in practically any stage of production, the most common being etching, pressing, assembly, and many other tasks.
But the decline will be on a global scale, and this brings us to another study completed by Oxford Economics.
This study predicts that China will see the most impact from Automation, considering the country has 100 million manufacturing jobs.
And of that, 14 million are expected to be replaced by Automation by 2030.
The Chinese government is actually leading the push for automation adoption.
It started a campaign in 2014 to replace manual labor with robots on a massive scale.
The city of Dongguan, for instance, reduced the manufacturing workforce by 280,000 over five years and added over 90,000 industrial robots.
The Taiwanese company Foxconn who manufactures iPhones in China, cut more than 400,000 jobs between 2012 and 2016 and replaced them with tens of thousands of robots.
Europe will face less of an impact on manufacturing comparatively, but it is still projected to lose almost 2 million manufacturing jobs by 2030.
The Automation Age is indeed coming and it’s inevitable, there’s so much potential.
That is, the Global GDP stands to gain $5 Trillion with the Automation of just 30% of manufacturing tasks.
And when you zoom out to Automation’s total impact, it’s projected to add almost $16 billion to the global economy by 2030.
That’s like adding the production of 13 Australia’s into the economy!
And the adoption will only accelerate as the cost of robots’ decline.
Industrial robots are projected to fall by 65% between 2015 and 2025.
As a result of all of this, the Industrial Robots Market is projected to reach over $66 billion by 2027.

And based on a UK study by Deloitte, this trend will likely continue with Automation.
The study found that the UK lost around 800,000 jobs to Automation over the past 15 years.
But it found that Automation helped create 3.5 million jobs.
What’s more, the jobs it created paid $13,000 more per year than the jobs it replaced.

The Oxford report recommends assessing your job or prospective career and identify repetitive tasks.
Then you should compete, grow, and excel in the skills that are less susceptible to Automation.
The report also recommends adopting a lifetime learning mindset and be prepared to retrain and upskill throughout your career.
Indeed, excelling in the coming Automation Age will require certain qualities more than ever before.