By 2030 robots will replace eleven million production jobs in China according to a report by the analysis firm Oxford Economics.
The report says that by 2030 robots introduced into the manufacturing sector will take 20 million jobs with China hit the hardest by this robot manufacturing revolution.
While China tops the list, here is a list of how many jobs will lost to robots by 2030:
- China: over 11 million
- European Union: almost 2 million
- United States: almost 1.7 million
- South Korea: almost 800,000
- The rest of the world: 3 million
An increase in the rate of robot adoption would significantly affect firms’ productivity levels, and hence the size of the economy. This increased wealth is therefore likely to result in job creation that will offset the displacement of local manufacturing employment we have identified.
But while this “robotics dividend” will boost employment across many sectors of the global economy, the jobs displaced by industrial robots will be concentrated in the manufacturing sector— where their uses are most well established. And while some new manufacturing jobs will be created by the robotics dividend, it is unlikely they will equal the number of jobs that could be displaced by automation in that sector—up to 20 million around the world by 2030.
Historically, low- and medium-skilled workers displaced from an increasingly productive manufacturing sector have found opportunities in the service sector. But this could also be an opportunity for remanufacturers who are typically labour intensive small and medium sized enterprises who could, as robotic technology converges with rapid digital innovations, benefit from a new pool of manufacturing talent, as unemployed production workers look for new opportunities.
The report is a good read.
