Labor in the Age of Robots
Today, anxiety that new technologies could destroy millions of jobs is as high as ever – and rightly so. Adapting the labor market to a world of increasingly automated workplaces will be one of the defining challenges of our era.
DAVOS – Fears about the impact of technology on the labor market are nothing new. In the early nineteenth century, a group of English textile workers known as the Luddites worried that new technologies like power looms and spinning frames would cost them their jobs. They protested by smashing the machines.
Today, anxiety that new technologies could destroy millions of jobs is as high as ever. In the midst of a major employment crisis, technology continues to reduce the labor needed for mass production, while the automation of routine legal and accounting tasks is hollowing out that sector of the job market as well. The science of robotics is revolutionizing manufacturing; every year, an additional 200,000 industrial robots come into use. In 2015, the total is expected to reach 1.5 million. Adapting the labor market to a world of increasingly automated workplaces will be one of the defining challenges of our era.
Yet no country can afford to ignore the transformation. Globally, some 200 million people are unemployed, up 27 million since 2008. There is a critical need to anticipate coming technological changes and provide the global workforce with the education and skills needed to participate in the modern labor market.
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