1.5 million British jobs are at high risk of automation, with women and young people more threatened than others. More than 70% of the jobs deemed to be at high risk are held by women. Among young people, 16% of employed 20- to 24-year-olds are likely to be affected.
The manufacturing sector will undergo a transformation as new technologies enable innovative factory automation solutions. The ‘Digital Factory’ market will grow at a compound annual growth rate of 33 percent to reach $673 billion in 2026, according to ABI Research.
While wired networking solutions are still predominantly used for industrial communications between sensors, controllers and systems, wireless solutions have gained a strong foothold in a number of applications.
The industrial and collaborative robotics market is gaining momentum, as more vendors and industries embrace automation. Development in cloud robotics, deep learning based machine operation, and a wider ecosystem will enable robots to become more reliable, versatile and efficient.
A new suite of technologies — including robotic process automation, smart workflows, artificial intelligence, machine learning, natural language, and cognitive agents — radically improve efficiency while eliminating errors and reducing operational risk.
Digitization has allowed for productivity and export growth in services that previously was not possible. This is the case with modern services such as finance, communication, software, legal, advertising, and business. Digital platforms and e-commerce have the potential to raise productivity, employment, and wages in the services sector.