Timothy Here Again,

It is very sad that people aren’t paying attention. Especially workers who are turning a blind eye to automation, something that’s going to completely upend our economy.

Recently, the announcement by the NBS on the unemployment rate to 33.3% as of Q4 in 2020 did not just come to be. The unemployment rate was 8.9% as of 2019, then with the pandemic which in the first quarter of 2020, the unemployment rate moved to 27% in Q2 of 2020.

Between 2019 and 2020, millions of people have lost their jobs and economic analysts are saying 50% of those jobs are not coming back because of automation.

Frankly, Automation has mostly affected blue-collar jobs in the past, but we’re facing something that will crush both blue-collar and white-collar workers alike.

And the pandemic is speeding it up faster than we could’ve imagined.

A big reason for that? Automation.

You might say that it won't affect your sector or job, but just take a look at what is happening in the United States of America

We’re talking about every sector...

Law: JPMorgan has artificial intelligence (AI) reviewing commercial loan agreements, a process that used to take a team of lawyers a year to complete - but now takes seconds.

Journalism: Microsoft laid off dozens of journalists and replaced them with AI that can scan and review content.

Medicine: Physicians expect that nearly a third of their duties will be automated by 2030.

Similarly, in Accounting, they are developing AI and softwares to handle the financial aspect of the company. So, if that happens where will you be? Will you still be relevant in the market? Bearing in mind that technology improves the company's bottom line but doesn't create new jobs instead it eliminates.

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A word is enough for the wise...

Dedicated to Your Vision and Success,
Tim Jibodu, FCA