Technology is threatening almost any industry. There’s no doubt about it. However, some industries will suffer from technological disruption sooner than others. The best way to deal with tech changes is to adapt to them and be resilient. Some of the industries that have embraced disruption are still on the market.
Artificial Intelligence (AI) and robotics are the leading trends that threaten most industries. However, if they use these tech trends wisely, they’ll be able to improve their performance and take the industry to a whole new level. Here we’ll show you some of the sectors that are threatened by disruption.
The manufacturing industry deals with a lot of workers that make sure each product is seamlessly manufactured. However, by using automation, companies can reduce the number of people that work in a single task. Robots and Artificial Intelligence can double the capacity of manufacturing companies.
Robots don’t need vacations or higher salaries; company owners only have to pay for them once and also pay for maintenance now and then. Therefore, companies can reduce costs by using technology. However, the most common form of robotics in manufacturing is cobots.
The translation industry is threatened by technology because machine learning algorithms have become more and more sophisticated. In the near future, it is possible that computers will be able to translate 90 percent of documents without human intervention. Therefore companies like One Hour Translation are at risk of being displaced by disruption.
However, there’s something more advanced than machine learning that is threatening the translation industry: deep learning. The difference between these two technologies is that while machine learning helps computers learn by experience, deep learning provides them with reasoning. Therefore, translations are more accurate because computers are able to differentiate words based on context.
The logistics industry might not be the same in the future. Autonomous cars will become more common than ever. Companies like Tesla or Argo AI are allocating their resources towards automation. Therefore, the logistics industry might not even need drivers.
Elon Musk’s prediction of the city of the future says that transportation will be faster than ever. This means that we will be able to travel from America to Europe in a matter of minutes. This speed of shipping will also lower costs in the logistics industry.
Traditional television is getting closer to disappearing. The reason for this is because streaming television is becoming more popular. Users are now more proactive when it comes to choosing what they want to see. Platforms like Netflix or Hulu have increased their popularity over the years because they allow users to select the content they’re interested in. Netflix currently has more than 180 million global subscribers.
With technology, television has become more interactive. Today users have more independence and connectivity. That’s why traditional television is threatened by technology.
One of the most common roles of the financial industry is a financial advisor. This used to be a very complicated job that involved statistics and math skills to forecast financial situations and evaluate the scene. However, today there are automated financial advisors powered with data science and Artificial Intelligence. One of the most common ones is Roboadvisor.
Humans can predict by doing some calculations, but computers have fewer possibilities of making mistakes. Therefore, people usually believe that these AI-driven financial advisors are more accurate.
However, this isn’t the only disruptor in the financial industry. There are many other tech changes we may see in the financial sector. Some of them are Blockchain and biometric transactions. Would you imagine accessing your bank account with your fingerprints or your eyes? This will probably make the financial industry safer, and it’ll help to avoid fraud.
There is no doubt that technology is coming after every industry. It’s very probable that in the future all industries will be working with Artificial Intelligence and robotics. It’s just a matter of time to see automation at every level of the economy. However, some industries are more at risk of automation than others right now, including the financial industry, manufacturing, and television.