Thanks to both robotics and AI research, machines are getting better at their jobs everyday, and even learning to do new ones. That’s great for the economy and the advancement of humanity in general. Not so much for the people they’ll put out of work though.
According to new research by Oxford Economics, robots will displace 8.5 percent of manufacturing jobs around the world over the next decade.
Basically, around 20 million people factory workers and people in similar workplaces will lose their jobs by 2030.
The research does say that, because robots take over more menial tasks, it opens up new jobs for the workforce. The problem is, upscaling to a new profession isn’t exactly easy, especially since technical support required by these robots involves skilled labour. That’s usually expensive to train in.
Because of this, though there’ll be newer jobs created as fast as old ones are made redundant, it’ll also create an income disparity.