Robots are a Greater Threat to Employment than Globalisation

Nobel-prize winner warns that robots will be far more disruptive to the employed than globalisation

#Robots

Sun, Dec 25th, 2016 11:00 by capnasty NEWS

Winner of the Nobel Prize for his work on health, wealth, and inequality, economist Angus Deaton says that robots will be a far greater threat to employment than sending jobs overseas. In the video above, in a June 1, 2016 townhall meeting, President Obama explains what the employment landscape of the near-future will be like.

Obama's White House warned on Thursday that advances in artificial intelligence and robotics have the potential to wipe out millions of jobs in factories and industries like trucking, potentially increasing inequality.

The World Economic Forum (WEF) predicted a "Fourth Industrial Revolution" at the start of this year, as automation and robotics transform the global economy and the way we work. WEF expects 5 million jobs to be destroyed by 2020 by the trends. An in-depth study by Citi and Oxford University also found that 77% of all jobs in China are at risk of automation and 57% of all jobs across the OECD.

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