Entitled ‘How robots modify the world: what automation actually means for jobs and productivity’, the report says that the fast pace of technological progress implies that robots will be able to take over ever more of the tasks once carried out by humans.
 
Some its key findings consist of the fact that there are three times as many robots in use worldwide as there were 20 years ago, up to 2.25mn. In the next 20 years, Oxford Economics cites trends suggesting that figure could achieve 20mn by 2030, with much of the increase being driven by China.
 
The improving use of robots is said to improve productivity and growth, but an approximate 20mn manufacturing jobs are predicted to be lost to robots by 2030, with those losses disproportionately affecting lower-skilled workers and those in poorer economies.
 
As reported in the BBC, however, Oxford Economics also found that a 30% rise in robot installations worldwide would create an calculated $5tn in additional global GDP, and thought from a global perspective, new jobs in yet-to-exist industries will be created at the same rate that existing roles are ruined.



This article is originally posted on Tronserve.com