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IFR: How Robots Will Influence the Post-COVID-19 Economy

IFR: How Robots Will Influence the Post-COVID-19 Economy

Companies around the world are increasing their use of industrial robots: Within five years, the global operational stock rose by about 65 % to 2.4 mio. units (2013-2018). For the same period of time, the U.S. Bureau of Labor Statistics reported a positive impact on the job market: Employment in the automotive industry – the largest adopter of robots – increased by 22 % from 824,400 to 1,005,000 jobs (2013-2018). These facts contradict the conclusions recently published by MIT´s news office on economist Daron Acemoglu´s research. Based on data between 1990 to 2007 he deduces an overall negative effect of robots on employment in blue-collar working communities in the US. Yet, recent experience in the US, Europe and Asia proves the opposite: robot adoption will likely be a critical determinant of productivity growth for the post-COVID-19 economy. These are results of the International Federation of Robotics.

“The impact of automation on employment is not in any respect different from previous waves of technology-driven change,” says Milton Guerry, President of the International Federation of Robotics. “Productivity increases and competitive advantages of automation don´t replace jobs – they will automate tasks, augment jobs and create new ones.”

 

Source: IFR

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