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03/24/2016 / By Jennifer Jablonski
The robot revolution is no longer a matter of what or how, but a matter of when. And it’s just a matter of 20 more years before we could be losing our jobs to more cost-efficient, and presumably, smarter artificial intelligence.
Robots and artificial intelligence could boost productivity by 30% and cut costs by 90% in some industries. And because of this, there is an obvious growing demand for such technology. We are currently in competition with these facts, and it should become a reality sooner than later. This is the paradox that humanity is facing.
It’s a change that humanity may not be ready to embrace, with current economic turmoil and underemployment. In fact, as reported by The Guardian, a new study has shown that:
A “robot revolution” will transform the global economy over the next 20 years, cutting the costs of doing business but exacerbating social inequality, as machines take over everything from caring for the elderly to flipping burgers….
A Merrill Lynch report shows that 35% of the workers in the UK and 47% in the US are at risk of being displaced in the next 20 years. And people at the bottom of the income scale will be the first to feel the effect of this change.
Whether you’re ready for this change or not doesn’t seem to matter anymore. Will artificial intelligence totally replace us? Only time will tell.
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Tagged Under: artificial intelligence, economics, employment, job losses, manufacturing sector, robots, services sector, unemployment
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