Automation - The Dramatic Conclusion
Will your job be automated? If you know the answers the following questions, you will have your answer.
How many people do a specific job in the world?
Average Annual Salary of job (including fringe)?
How many years will someone be doing that job (years in demand)?
Research and development cost to create technology to do your job?
Cost to build one robot?
Desired Profit Margin/unit?
How many years with the unit last?
Yearly cost to upkeep unit?
For example, take the job of flight attendant (which I used as an example if the attached document). There are 95,000 flight attendants (actual number), earning $55,000 per year (with benefits), and each flight attendant works for 20 years. If it costs $10,000,000,000 (that's $10 Billion) to do the research to design a robot that can do everything a flight attendant can do, and costs $300,000 to build each robot, and $25,000 each year just for maintenance, would it make sense to automate this job. Not only does it make sense, but the automation company would make over $11 Billion in profit and the airlines would save would $7 billion. Win-win for everyone except the 95,000 flight attendants out of a job. And the cost for R&D are just going to keep going down.
Open the Excel document and figure out if you job is next.
How many people do a specific job in the world?
Average Annual Salary of job (including fringe)?
How many years will someone be doing that job (years in demand)?
Research and development cost to create technology to do your job?
Cost to build one robot?
Desired Profit Margin/unit?
How many years with the unit last?
Yearly cost to upkeep unit?
For example, take the job of flight attendant (which I used as an example if the attached document). There are 95,000 flight attendants (actual number), earning $55,000 per year (with benefits), and each flight attendant works for 20 years. If it costs $10,000,000,000 (that's $10 Billion) to do the research to design a robot that can do everything a flight attendant can do, and costs $300,000 to build each robot, and $25,000 each year just for maintenance, would it make sense to automate this job. Not only does it make sense, but the automation company would make over $11 Billion in profit and the airlines would save would $7 billion. Win-win for everyone except the 95,000 flight attendants out of a job. And the cost for R&D are just going to keep going down.
Open the Excel document and figure out if you job is next.
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