In retail and B2B environments, making transactions seamless and contactless is the goal here. AI (Artificial Intelligence) Creating Contact-free Experiences - as the pandemic changes with each new variant, the need for social distancing remains.No word on how or if these machines will protect your job, however. Equipped with sensors and software, these robots detect changes in their work environment in real-time - with an emphasis on keeping people safe. The Advancement of “Cobots” - according to Dataquest, these robots are designed to work alongside people in a safe and effective manner.Dataquest predicts the following trends for robotics in 2022, in an article outlining the “robot revolution”: Consider an unmasked robot, with no childcare concerns and no need for rest: that robot has a skillset that’s attractive to many employers. Without a willing and compliant labor market, the trend towards automation is a business necessity. Seems workers are hungry for other options. Many workers are out sick, dealing with the onslaught of the Omicron variant - while everyone wonders how long it will be until this new wave subsides. The pains of the pandemic continue to stress the job market, from front-line healthcare workers to hospitality and beyond. The laws of supply and demand are at work: reducing the labor supply increases the price of labor. The 10-year growth forecast for industrial robots has more than doubled, from $16 billion to $37 billion, according to Jacobs.Įven with the prevalence of low-paying jobs, labor costs are rising. Global X’s Robotics and Artificial Intelligence ETF (an exhange-traded fund that focuses on bots in business) is up 140% since its 2016 launch.
“We think we’re going to be in the golden era of robotics adoption for the United States,” he tells CNBC.
The disruption in the supply chain - including the supply of labor - is setting up “a huge surge in spending on robotics and artificial intelligence,” says Jay Jacobs, Senior VP for the fund. Global X, a $40 billion dollar investment firm with an appetite for automation, says that 2022 is a key turning point for robotics. It has permitted the federal minimum wage to recede to near irrelevance.” With the disappearance of meaningful work, will our sense of identity and fulfillment also suffer? “Work is a way that we can learn, exercise our powers of perception, imagination and judgment, collaborate socially and make constructive social contributions,” writes MIT Advisory Board Member Josh Cohen. What happens when people don’t want to do the work that’s being created? Authors David Autor, David Mindell and Elizabeth Reynolds offer a sobering assessment: “The US has allowed traditional channels of worker voice to atrophy without fostering new institutions or buttressing existing ones. In The Work of the Future: Building Better Jobs in an Age of Intelligent Machines, (Coming soon from MIT Press) there are two faces of technological change: task automation and new work creation. Is the economy tilted towards building the workforce it needs, because it can’t hire the workforce it wants? “We’re Not Gonna Take It” A disinterested labor force, a proliferation of lousy jobs, and improvements in automation: these factors are creating a perfect storm for making smart machines. An increase in lower-level jobs, and a decrease in those willing to apply for them, is creating a powerful (and potentially troubling) decision matrix - tipping the scales in favor of automation, robotics and AI (artificial intelligence).
The US Private Sector Job Quality Index (JQI) shows that the quality of jobs has significantly declined in quality, as reported by Jack Kelly in Forbes. (For perspective, consider that the US labor force is about 162 million in total). For many employees - over 50 million, in fact - low hourly wages and scant benefits are the only option.
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