By Rahul Guhathakurta
From the article:
In recent times, organizations across the world from various industry sectors are pushing themselves to become "Digitally Native" by adopting "Digital Transformation" as a foundational pillar for the future— starting with Robotic Process Automation (RPA). And, the primary objectives for the most of them are to achieve speed, accuracy, and reduction in headcounts. The convergence of RPA, artificial intelligence (AI), machine learning (ML), natural language processing (NLP), and cognitive platforms is potentially so disruptive that Klaus Schwab, founder of the World Economic Forum, calls it the "Fourth Industrial Revolution."
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In a newly published working paper by Lukas Schlogl and Andy Sumner from the think tank, the Center for Global Development (CGD) explained the potential effects of robotics and AI on global labor markets. When automation is used to augment human management, traditional organizational orthodoxies, such as about spans of control, can be challenged. The paper says it’s impossible to know exactly how many jobs will be destroyed or disrupted by new technology. But, authors add, "it’s fairly certain there are going to be significant effects — especially in developing economies, where the labor market is skewed toward work that requires the sort of routine, manual labor that’s so susceptible to automation".
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