"Two-thirds of all jobs in developing countries might be lost to automation."

Automation will render low-wage under-developed countries too expensive

#Future

Tue, Feb 28th, 2017 11:00 by capnasty NEWS

According to a report by the UN Conference on Trade and Development, not only will automation take away two thirds of all jobs in developing countries, but it will also see those factories going back to the developed world. Already there has been a report on the decline of factory jobs in China thanks to robots, while self-driving trucks alone will have a remarkable impact all over the United States.

In short, this means that low-skill jobs in developing countries are more vulnerable, as these jobs could rather easily be done by robots, robots which would replace human low-skill labor in these countries. This translates to some staggering numbers: Two-thirds of all jobs in developing countries might be lost to automation.

The report continues by stating that automation could cause economic activity, like the manufacturing industry, to be reshored to developed countries from developing ones. If you aren’t familiar with this term, “reshoring” is the act of bringing back domestic manufacturing to a country. It is already happening today, but according to the report, it’s happening at a slow pace.

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