Impact of digitalization and automation

As an engineer, working on projects based on IoT engrossed me and gave me insights into the
technicality of transitioning into Industry 4.0. But, I have always been inquisitive about how the
advent of digitalization and automation will impact the business and employment.

The algorithms configured using these technologies simplify everyday tasks, and it is impossible
to imagine how one can manage their jobs without them. The speculation of these upcoming
technologies replacing human force is high. Technology has become an integral part of our life.
Thus, the question arises - what will the future world of work look like?

Few experts emphasize that there would be a high rate of unemployment and social distortions as
a possible outcome. However, even though intelligent systems and algorithms play an
increasingly central role and no jobs are likely to be lost abruptly as a consequence. Rather, a
gradual transition will take place, which has already commenced and will differ from industry to
industry and from company to company.

According to a recent report, notwithstanding the increasing adoption of automation, 76 percent

of employers in India plan to increase or maintain their headcount. The companies that are
digitizing are growing, and this is producing more and new kinds of jobs. Organizations that are
already automating tasks and progressing their digital transformation are most confident of
increasing the headcount. As more and more robots are being added to the workforce, we must
ensure that humans are integrated with machines. Focusing on effective up skilling will eliminate
the probability of a decrease in human workforce reduction, thereby bringing the humans and
machines together as coworkers on the same platform.

In today's business field automation, digitization, machine learning, artificial intelligence have
become more common. Most businesses today understand that it is important to embrace
technology and automation. How does this impact business growth?

Reduces time- The advances in computing power have meant complex, mundane and even huge
volume of work can be tackled within minutes.
Revenue and Profit- The digital technologies like websites, social media and e-commerce will
provide a greater market reach ensuring this.
Productivity- Because more can be achieved in less or the same amount of time, embracing
technology increases productivity to a large extent.
Efficiency- Technology implicates that the machines now will be able to carry out tasks that
require a high degree of efficiency and precision. Technology and automation can help a
business improve efficiencies across functions – from manufacturing to marketing, and ensure
costly errors are prevented from happening. This, in turn, can add to business growth.