Robotics and future job losses

In recent times there has been numerous statements made by famous business leaders and leading academics about how robots will replace humans for repetitive jobs. Elon Musk predicts 30% of US jobs will be completed by robots/software by 2030. Here are some of the predictions from PWC report from early 2017.

  • 38 percent of US jobs will be replaced by robots and artificial intelligence by the early 2030s.
  • The analysis, by accountancy giant PwC, has also revealed that it is financials service jobs that are at most risk of a robot takeover – 61 percent could be replaced by machines.
  • Those who are paid less than $20 an hour will be unemployed and see their jobs filled by robots over the next few years.
  • For workers who earn more than $20 an hour there is only a 31 percent chance and those paid double have just a 4 percent risk.
  • Most workers in the UK that are at high risk are in transportation and storage, retail, manufacturing, and administrative and support services, the experts found.
  • The report said up to 10.4 million jobs – 30 percent of those in the UK – are very likely to be automated by the early 2030s

If you look at automotive industry where production lines have used robots for 2-3 decades there is still high employment. Almost 2 million workers are employed in the car industry in Germany and UK.

Most experts point out that employment is at a record high despite huge advances in technology, with numerous jobs in sectors such as manufacturing already done by machines.

Even with huge advances in technology in the past 50 years it does not lead to huge job losses so I wouldn’t be scared of these scare mongering statistics. Have a break, enjoy a kit-kat and let the robot do the work. I cant wait for them to replace me and for the government to provide me with a national living wage.