Automation is the process of executing a task with minimal or zero human involvement, using various kinds of technology. From the mechanical arms of an automobile factory to AI moderation of online content, many tasks that previously required manual effort have now been automated.
Organizations employ various equipment, including electronic, hydraulic, mechanical, pneumatic, etc. It is a combination of these different kinds of equipment in many cases. Moreover, this automation revolves around algorithms that work on pre-defined scenarios.
Transitioning from manual to automated work improves accuracy, speed, quality, and efficiency. Additionally, it also saves labor costs and reduces waste generation.
It’s worth remembering that automation provides these benefits after displacing humans. This results in a spike in unemployment in the professions where these machines make their way. However, at the same time, it also produces new jobs, usually in the technology sector.
Interestingly, according to the World Bank’s 2019 report, automation-induced unemployment and newly created jobs ultimately maintain an economic balance. As the year passes and technology advances, we’ll see automation entering more fields and professions while shaping up new professions.
Some Industries where Automation is prevalent
Automobile
The automobile industry uses automation on a large scale. Many factories employ robotic arms to assemble vehicles when it comes to manufacturing. Certain cars offer AI-supported features such as autonomous parking and auto-pilot driving on the consumer end.
Finance
In finance, it pays to automate tasks previously done by humans. The increased speed, efficiency, and accuracy offered by automation are crucial for a company’s finances. Dedicated software and systems handle everything in this fast-paced industry, from book-keeping to expense management.
Commerce
The industry that spawned the “e-commerce” term indeed uses a lot of automation. Online retailers such as Amazon rely heavily on automating the process of sales and transactions via their website. Even retailers in brick-and-mortar stores use software to track product stocks, record transactions, etc.
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