40pc decrease in low skilled jobs
Low-skilled jobs could be given to robots that can mimic people’s abilities and eventually perform better and at no cost.
According to a major report on automation, intelligent computers that can learn people’s jobs could lead to a 40 per cent decrease in low-skilled jobs. Plus, ‘robot workers’ can cut costs for business in half. IBM, ANZ Banking Group and Westpac are among the companies moving to embrace this type of technology to automate finance, back office and human resources functions.
The Australian Financial Review cited Simen Munter, ANZ’s general manager of group hubs as saying that the bank planned to deploy 100 ‘robots’ in 2016, after running a pilot program across the bank especially in its human resources, finance and mortgage processing departments. Robots are meant to eliminate routine tasks such as invoices, payrolls and closing accounts so that employees can focus on more high-level tasks, Mr Munter added.
ANZ’s general manager of group hubs claimed the bank’s decision to include ‘robot workers’ is not driven by the cost saving and emphasized “it is about smart people working with smart robots.”
According to the report management advisory firm Mindfields, staff reduction strategies will be necessary where staff members cannot be trained for other roles. The report also showed that robotic automation will lead to a “change in hiring strategy and the mix of staffing required.”