BY TUMOTECH

Experts say robots will take 47% of our jobs. Is this true? And if so is it a problem? A guide to the coming robot revolution everybody should

know about

Contents

Who are the Luddites and what is technological unemployment?

What are some of the key demand drivers of the robotics industry?

Given rising demand for robots, what are the arguments for and against robots taking all human jobs?

If robots take all our jobs is it really a problem?

So who are the Luddites and what is technological unemployment?

In the early 19th century Luddites destroyed new labour-saving machinery in the north of England due to alleged unemployment fears.

These  fears however,  have proved to be unrealized with only one third of the civilian population having jobs in 1870, compared to the roughly 2/3 that have jobs now despite vast technological advances.

So who are the Luddites and what is technological unemployment?

It’s worth mentioning the  Luddites weren’t the only ones who feared technological unemployment.

As far back as Roman times when an engineer offered a low-cost contrivance enabling the transport of heavy columns to the Capitol, Vespasian a Roman emperor paid him handsomely for his invention but declined to use the machine.

So what are some of the key demand drivers of these robots  that could cause technological

unemployment?

1. Increase in labour costs

So what are some of the key demand drivers of these robots  that could cause technological

unemployment?

2.Quality of work -The demand for robots is also a result of how much more productive they are compared to humans.

Additionally there has been a fundamental change to the history of robots as machines can now be used collaboratively alongside humans.

So what are some of the key demand drivers of these robots  that could cause technological unemployment?

3. Security-  The demand for robotics is also a product of fear or national security. 

Given rising demand for robots, what are the arguments for and against robots taking all human jobs?

1. We will create new ones- Technological unemployment is unlikely to occur because history shows we will always create new ones.

Robots will only eliminate jobs at the bottom of the skill ladder.

But.....

Technology may be destroying more jobs than it creates 

 The creative and social economy may not be safe with the exponential growth in computing power.  

Ok I understand that robots may take all our jobs but is this really a problem?

Technological unemployment would allow:

1. The pursuit of “higher goals”- It’s difficult to be the next Shakespeare if you have to worry about feeding yourself and or your family.  

OK I understand that robots may take all our jobs but is this really a problem?

2. An even better standard of living will be realised - A kid with Wi-Fi and a smartphone has more access to information than a U.S. president 40 years ago. Robots may lead to a significant rise in standards of living.

But....

1.The transition- Much of the existing analysis out there, has looked at where we are today and where we will end up. But too little attention has been paid to the wild rollercoaster transition in between.

But...

2. Living standards in the last decade could be declining-   It has arguably never been harder to take care of basic human needs such as food and shelter.

Some conclusions 

Robots are likely to take most if not all the jobs we have today and those created in the future. This is because unlike trucks, computers and cars, robots of the future are structurally different. They will be intelligent agents, not tools.

Sources and downloadable data?

ALL OF THE ABOVE AND MORE CAN BE FOUND AT WWW.TUMOTECH.COM