What Are the Risks of Relying Too Much on Robots and Automation?

Using robots and automation in different fields can bring great advantages, but it also comes with some risks. These risks can affect our economy, society, and how businesses operate, so it's important to look at them closely.

Economic Risks

1. Job Loss:

   • A study by McKinsey Global Institute from 2020 found that by the year 2030, about 375 million workers worldwide may have to change their jobs because of automation.
   • Jobs in areas like manufacturing and retail are at the highest risk and could see 20-25% job loss.

2. Wealth Gap:

   • Automation can lead to a situation where wealth becomes concentrated in the hands of a few people or businesses that own advanced technology. A 2019 report from the World Economic Forum warned that by 2030, the richest 1% could earn 50% of the world's income increases from AI.

Social Risks

1. Skill Gap:

   • A survey by the World Economic Forum showed that 54% of workers will need to learn new skills by 2022. This gap in skills can make inequalities worse.

2. Less Human Connection:

   • Automation can reduce the amount of personal interaction we have. For example, automated customer service through chatbots can make it harder for customers to feel connected, which might frustrate them.

Operational Risks

1. Too Much Dependence on Technology:

   • Relying too much on automated systems can create weaknesses. In 2019, the U.S. Department of Homeland Security reported that cyber-attacks could increase by 400% by 2024, especially targeting these automated systems.

2. System Breakdowns:

   • If automation systems fail, the consequences can be serious. In 2016, a Tesla car using its autopilot feature was involved in a crash that resulted in a fatality, highlighting the risks of depending on technology when systems do not work correctly.

Conclusion

The fast growth of robotics and automation could change many industries. However, we need to be aware of the possible problems that come with these changes. Taking proactive steps, like creating policies to support workers who lose their jobs and investing in education, will be key to reducing the risks that come from relying too much on robots and automation.