Thanks to developments in new technology, it is now possible to use robots for jobs that couldn’t have been previously automated. IFR statistics show that over 1.8 million industrial robots are currently in operation, and another 1.4 million are expected to be in place by 2019.
The expansion of smart factories has also pushed costs down, making robots more affordable than a full-time human worker. This is why experts fear that the growth in artificial intelligence will result in massive job losses.
However, PwC finds that U.S. manufacturers see robotics technology as being used for repetitive jobs with low qualifications, while simultaneously generating new opportunities in more technical, higher skilled areas.
So instead of robots causing job loss, it could be more of a restructuring of the labor market. Trademachines new infographic (below) offers some unique insight.