Economic Analysis: The Impact of Robots on Human Job Displacement

This essay examines the increasing role of robots in the workforce and the consequent displacement of human jobs. It highlights predictions that robots will take over millions of jobs worldwide by 2030, particularly impacting low-skilled workers and contributing to income inequality. While automation is expected to boost global GDP, the essay emphasizes the need for proactive solutions to support displaced workers and address the challenges posed by technological advancements. The analysis draws upon recent reports and studies to provide a comprehensive overview of the economic implications of robotization.

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ROBOTS TAKEOVER HUMAN JOBS
System04121
3/15/2020

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Robots are also going to kill humans for certain jobs. As in the time of the industrial
revolution, revolutionary agricultural machinery replaces people and animals. Following
these changes, people will need to develop and deliver brand value in new wars on the brand
new business models. (CNBC, 2019).
It is evidently beyond doubt and we can see that the shape of the work is being transformed
by robotics, artificial intelligence and other cutting technology. About 47% of existing
employment in America is highly affected and highly automated in the coming years (BBC
News, 2019).
In 2030, robotics would hold more than 20 million workers worldwide, as an economist
reported. The recent Oxford economics report reveals that the next 11 years will take effect.
In China alone, there could be 14 million robots.
Long-term patterns surrounding automation on the job were studied by economist. It was
reported that during the past two decades the amount of robots in operation worldwide has
tripled (BBC News, 2019).
Different scientists also predict that the rise of robots will have various productivity and
economic growth advantages. They also said that specific weaknesses are anticipated at the
same time.
As a result it can be seen that robotization will take up to ten millions of jobs and mainly in
poor local economies that rely on low skilled workers. This will hence translate to an increase
in inequality of income.
It has also been said by the researchers that in case the installations of robots are boosted
that the baseline forecast will be4 30 per cent more by the year 2030 and apart from this

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researchers estimated that it would lead to a 5.3 per cent boost in the GDP globally in that
year.
This contributes to an estimated $4.9 trillion per annum to the global economy by 2030,
equivalent to the economy larger than Germany's predicted scale. Every modern production
robot has killed approx. 1,6 manufacturing employment. The lease is one of the most
influenced by professional areas.
Regions who have more workers with fewer expertise who enter the poorer markets with high
unemployment rates and these are citizens that, according to the Oxford economics (CNBC,
2019), have the greatest effect on or are influenced by work reductions triggered by the
robots.
The robots have already started taking the jobs from the hourly human workers and it is also
going to continue. The researchers also found that 45 per cent of the current jibs can be
automated and the people should stop avoiding the situation and should create or built a
real solution in order to help the displaces workers as no one can stop the new technologies
as well as the innovations. Bans always create worse situation instead of allowing the people
to innovate closely (BBC News, 2019).

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BBC News, (2019). Robots 'to replace up to 20 million factory jobs' by 2030. Retrieved from:
https://www.bbc.com/news/business-48760799
CNBC, (2019). Robots could take over 20 million jobs by 2030, study claims. Retrieved
from: https://www.cnbc.com/2019/06/26/robots-could-take-over-20-million-jobs-by-2030-
study-claims.html