Beware the unintended consequences of a robot revolution

Beware the unintended consequences of a robot revolution  #robotics #AI

  • Ask an economist or a technology expert and they will happily tell you that decades of data reliably show automation has created more jobs than it has destroyed.
  • The problem with this rose-tinted view of automation, however, is its focus on big averages that take little account of individuals’ experiences.
  • As tempting as it may be to pour money into boosting automation in return for the long-awaited boost to productivity and headline economic growth, doing so without having a clear plan for retraining displaced workers would cause untold harm to millions of individuals.
  • As the Institute for Public Policy Research points out , some workers are far more vulnerable than others to automation.
  • If the government fails to act, the result could all too easily be a spike in unemployment and poverty in places with the lowest skilled workers – a very high price to pay for a bit of average productivity growth.

Investment in education and retraining is needed to equip people to adapt as automation shakes up their workplaces
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