According to the World Economic Forum, automation will cause a net job loss of 5 million by 2020. This number is high, but it should not be taken seriously, said Adam Devine VP, Product Marketing and Strategic Partnerships, WorkFusion.
“Automation may not necessarily cause job loss, but it may change the purpose of human cognition,” he said.
Samson David, SVP and Global Head for Cloud, Infrastructure of Security, Infosys, however strongly felt that automation will exponentially increase jobs. Comparing this with the transport industry around a century ago, he said that this led to a major increase in the number of jobs. “Even though it will cause disruption, we will still have time to adjust,” he said.
However, Devine did not echo the same sentiment. He said, “In some cases, especially for dying business models, disruption due to automation will happen overnight.”