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Robots are to Wipe Out a Huge Number of World's Manufacturing Jobs

By CIOReview | Wednesday, July 10, 2019

It took years before computers really made work more comfortable and more efficient, now robots are at the start of that curve, making it a current trend to improve productivity.

FREMONT, CA: According to a report released by Oxford Economics, global forecasting, and quantitative analysis firm, it is predicted that the robots will replace approximately 20 million manufacturing jobs around the globe shortly. The revolution in robotics is increasing rapidly, as fast-paced technological advances in artificial intelligence (AI), automation, energy storage, engineering, and machine learning coincide.

The number of robots deployed now has increased over the past decades. If we follow the trends, it is suggested that the use of robots will increase soon, creating a significant impact on the workforce, economy, and workplace. When applied to duties they perform more effectively and to a greater and more coherent performance standard than humans, the robots have enhanced productivity, making it error-free and saving time.

As a result of robotization, a considerable number of jobs will be lost, particularly in weaker local economies that rely on lower-skilled workers increasing income inequality. However, the rise of robotic technology will also be beneficial in terms of economic growth and productivity, leading to the creation of new jobs.

How Are Robots Changing the World?

The robotics revolution is rapidly increasing as they are fast and efficient and with minimal errors.  The statistics of robots in the industry has grown considerably as compared to the past, resulting in better productivity and fruitful outcomes.

In the years to come, the economy will be washed away by a great wave of technological change, which will modify the nature of work and labor market. Robots complement and augment labor: The future will be robots and humans working together. Companies must concentrate on offering present and future employees with the correct abilities to guarantee that the beneficial effect of robots on jobs, work quality, and salaries continue.

Productivity gains due to automation and robotics are crucial for both sector and domestic competitiveness, not only at the business level. Robots will not take all our jobs, just as the industrial revolution didn’t replace all craftspeople, but they will boost labor productivity levels. Companies that adopt robots can deliver high-quality products using fewer resources and saving time in the process.

Check out: Top Industrial Robotics Solution Companies


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