TAIPEI (Taiwan News) – A total of 20 million manufacturing jobs could disappear by 2030 as they would be handled by robots, reports said Wednesday (June 26).
In a report titled “How Robots Change The World,” forecasting and analysis organization Oxford Economics predicts the number of robots will multiply 10-fold by 2030, causing the destruction of 20 million jobs in the manufacturing sector.
Lower skilled workers and poorer regions will be hit worst, causing intense social and economic stress needing policy solutions, the report noted.
In combination with Artificial Intelligence, service sector jobs could also fall prey to increasing automatization, according to Oxford Economics.
The report predicted that each robot could replace 1.6 workers, so while productivity and economic growth might be stimulated, there has been growing concern about the impact on jobs, in less developed regions in particular, the United Daily News reported.
The employees who lost their job in manufacturing were also likely to gravitate toward other jobs that might suffer under the impact of automatization.
Of the 20 million robots estimated to be operating in 2030, 14 million could be located in China, the report said.