Recently, robots have earned work from humans across industries. Tasks include screening, examining, choosing, packaging and assembling of small electronic items.
The experts say that robots, as they become intelligent, more fast and less expensive, are taking on more and more “human” abilities and characteristics like sensing, skill, memory and training.
Stakeholders were persuaded that employers would like to hire cheap labor and obtain cheap raw materials while limiting access to advanced techniques of production for workers to develop their skills at the 10th Triennial of National Delegates Conference of the Association of Employees of Banks, Insurance and financial institutions (ASSBIFI).
In his speech to ASSBIFI, President of the National Programme, Comrade Oyinkansola Olasanoe told the audience that this posed an significant challenge not just for the organizations but for the broad public.
She stated that the rise of robotics consultants in financial services is also something which should be further examined, adding that these machines are not only impartial but also have the biases of their programmers and can gather all information a human seller can possibly obtain in a way that leads to suboptional financial advice.
“Because more individuals have a mobilephone than a bank account, if not sufficiently regulated, increased financial inclusion as a result of digitizing the financial services will lead to predatory behavior and overcharges in the transaction of these new and experienced customers. Moreover, the cost of doing business and compliance with policy has increased in new regulations.
She pointed out that a close correlation between promoting innovation and ensuring the level playing field in terms of regulation is essential to the combined effects of all these innovations on financial stability, the viability of traditional banks and insurance companies.
Chief Executive Officer, Precise Financial System Ltd, Dr Yele Okeremi who is also the guest speaker admonished labour unions to prepare for a different world of work that is emerging.
He said no one can stop automation in the future and that it as already began. Government can only prepare people people for the coming innovation.
In other sectors of the economy, technology can also create jobs while reducing jobs. What we ought to concentrate on is that we will be in a position to get potential staff involved in the kind of facilities that we need in the future, because in the future skilled staff who are significant people in negotiating forces need a syndicate. Therefore unions themselves can begin in this new context to rethink or otherwise become meaningless their value proposition.
He said, “There will be a period when definitions of whether someone is a worker or an employee will be challenging. Therefore, the problem is simply the need for a rigorous legislation, a effective examination that ensures that work is decent anywhere employment exists. Of me, this should concentrate rather than on whether someone is employed in a standard, retirement or a short contract. That’s what we now know, but other types of job are on the way.”
While fearing automation could result in loss of work in Africa and other developing countries, there have been massive job losses in the developed countries which have deployed robotics in most economic areas, said the Secretary-General of the Non-Academic Staff Union and Associated Institutions (NASU) Peters Adeyemi.
Adeyemi also indicated there is a great deal of an automatic industrial area inhibited because of the lack of stable electricity. He argued that while the government seems unwilling to automate the industrial space, this move would lead to mass unemployment and worse insecurity in the country.