According to Oxford Economics Study Robots could control 20 million Jobs by 2030

Humans need to get ready for sources of income inequality in the future. Robots are preparing to take over many positions. There would be 20 million manufacturing jobs all over the world in 2030. however, Robots will take control over humans. In a new Oxford Economics, economists claim STUDY that the next decade orchestrates for robots to take jobs from humans. There could well be 14 million robots.

Analyzing the automation in the workplace, Economists analyzed trends prevailing in the long-term by looking at the past trend, by tracking the number of robots that have been placed to work around the world, which has increased by nearly thrice in the last 20 years to about 2.24 million in this period. Identifying the drawbacks humans should expect to rise including but limited to income inequality, research predicted the rise of robots in the future will certainly bring benefits in terms of better growth and productivity on the world’s economy.

       GDP by 5.3% above our baseline GDP growth forecast in 2030. This equates to adding an extra $4.9 trillion to the global economy that year. The high-adoption scenario boosts the economy’s productive potential. We used the GEM to simulate a corresponding increase in the level of business investment and a boost to productivity, both in the manufacturing sector and the wider economy. 

              As Fig. 1 illustrates, a speedup of robot investment results in significant gains in GDP growth for the world’s largest economies. US GDP rises by 13.1% above the baseline projection by 2030.  

     

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