The automation of tasks through the use of software, robotics, machine learning and artificial intelligence is a natural outcome of the digital revolution, reducing costs, increasing profitability and eliminating jobs as a result.
A small business can’t afford to employ staff it doesn’t need. Large businesses are driven by shareholder demand for profits and will use software and other technology tools to replace employees to achieve this. So job erosion is a natural consequence of digital disruption.
The process has already begun. 40,000 jobs have disappeared in Australian banks and telecommunications companies over the last five years, with only a few thousand new jobs in IT and data analytics created to replace them.
The challenges of digital disruption are spread across all industry sectors. White collar, blue collar and no collar – and no industry is completely safe.