Since 2000, 1.7 million manufacturing jobs have ceased in the global economy due to the spread of robot technology, and analysts have now calculated how these numbers will develop in the next decade.
The spread of robot technology in the next decade may increase the value of the global domestic product (GDP) beyond the performance of the German economy, but the cost of this is expected to be about 20 million traditional manufacturing jobs, according to a comprehensive analysis of a major financial and economic analysis house in London on Wednesday.
Oxford Ecomomics suggests that the expansion of robots in the global manufacturing industry will increase global GDP by $ 4,900 billion by 2030 and will add 5.3 percent of the global economy by itself by the end of the time horizon.
This would be equal to the appearance of an economy in the world economy with a higher performance than the German economy.
At the same time, the house also notes that setting up each new industrial robot in production will make an average of 1.6 manufacturing workers redundant.
According to the analysis, 1.7 million manufacturing jobs have ceased to exist in the world economy since 2000 due to the spread of robot technology. Robots have taken over 400,000 jobs in Europe, 260,000 in the US economy, and over 550,000 in China.
However, according to Oxford Economics's calculation method, the current speed of robot technology means that 20 million industrial jobs can be lost in the next decade due to robotic industrial production.
According to automotive professionals, the industry is going to change: although robots are taking on simpler or dangerous jobs, the liberated workforce can be invested in valuable work.