Robots Welding in an Auto Factory Photo: Robotics.Org

Automation: Robots encroach on nearly 800m jobs worldwide ─Experts

*As many as 800 million high-risk sectors face a high exposure to risk of their employment becoming obsolete

*Greater automation technology could worsen income inequality across the world

Isola Moses | ConsumerConnect

Recent advances in automation technology threaten a significant share of jobs in industries accounting for nearly a quarter of the global workforce.

Economists Ziad Daoud and Scott Johnson, in a report Tuesday, October 20 said that could mean as many as 800 million people face a high exposure to the risk of their employment becoming obsolete, according to according Bloomberg Economics’ estimates.

The experts wrote that the Gulf Cooperation Council, Czech Republic, Slovakia and Japan are most vulnerable to disruption from automation.

According to them, this is because these countries have a large segment of their workforce in the kind of simple, routine roles most easily replaceable by machines, or already rely on cheap labour for tasks.

Examples include clerical support in Japan or plant operations in central European nations.

But who is most exposed to automation? Greater automation risks creating higher income inequality, the economists wrote.

While robots were previously thought to threaten mainly low-skilled jobs, now they are seen replacing roles that can be broken down into simple mechanical steps instead. Those often fall in the middle of the income distribution, resulting in a polarisation effect.

Still, Daoud and Johnson stated that it is not all bad news though.

Some of the most-exposed countries also have rapidly aging populations, meaning the technology could help to offset demographic headwinds in their economies.

Kindly Share This Story