Robots will eliminate up to 20 million manufacturing jobs around the world in the next decade, Oxford Economics says
The robots are coming for your jobs — and workers in Oregon, Louisiana and Texas have the most to fear.Oxford Economics said greater use of robots will eliminate up to 20 million manufacturing jobs around the world in the next decade. Lots of service-oriented jobs largely immune from automation in the past could also be taken up by machines.
“Our study shows that the current wave of robotization ultimately boosts productivity and economic growth, generating new employment opportunities at a pace comparable with the rate of job destruction,” said Gary Duncan, Oxford’s director of communications.Politicians, for their part, will face a big dilemma. Robots will not only generate more growth, but also more inequality.
Why is the adoption of robots soaring? Oxford cited rapid innovation in artificial intelligence, machine learning and engineering. Increasingly robots are becoming cheaper than humans, especially as labor costs rise in major economies.
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