Robots are estimated to takeover 20 million Jobs by 2030

Robots

The future we all awaited and feared is here, crossed over the threshold and into our lives. A report by Oxford Economics gave an insight into the beginning of a Robot revolution. Robots are about to take over your jobs. By 2030, the world will need intensive skilled labor or be prepped for robots replacing them.

20 million jobs in the manufacturing industry will be filled by robots, which will leave that many humans unemployed in Australia. South Australia will feel the crunch from this robot makeover. Robots are estimated to remove an average 1.6 manufacturing jobs, thus far occupied by humans. The blue-collar workforce will be hardest to be hit by this. The polarized divide in incomes will only increase, as the low incomes will be the ones impacted.

Other parts of Australia are evenly distributed with manufacturing jobs, but South Australia is the main manufacturing region of the country, with also the slowest economic development and poor production quality. The poor will get poorer, with the unequal toll this will take on regions and incomes, this would create disquiet and divide.

This may hex the job market for the future generations, but will be a blessing for the industry at large. With the existent installation of robots that have already started replacing people in countries like China and US, production quality has increased, time consumption is less and it has justified cost. More robots installed would mean more boost to the global GDP, at 30 % rise in robots, more than 5 % increase in global GDP, is estimated in just a single decade. equivalent to $4.9 trillion to the global economy that year, or an economy greater than the projected size of Germany’s. The astounding figure is as much a reason to rejoice as much as it is a cause for concern. 2.25 million robots are at work as of now. More than 1.7 million jobs have been lost to the machine since 2000.