Tech content trusted by users in North America and around the world
7,254 Reviews & Articles | 52,673 News Posts

US economy will suffer as robots continue to take over the work force

Economists believe robotics will have negative impact on US economy
By: Michael Hatamoto | Science, Space & Robotics News | Posted: Feb 25, 2015 7:39 pm

Economists are unsure what to make of robots invading the workforce, with legitimate arguments offered by both sides regarding potential long-term consequences.




The US National Bureau of Economic Research published a report that found as robots are able to continue efficient performance in the workplace, developers are going to eventually cannibalize their own jobs. However, robots still cannot match the precision of humans in many workplace aspects, so it will likely take future hardware and software developments before most jobs are at risk.


"When smart machines replace people, they eventually bite the hands of those that finance them," according to the report. "The long run in such cases is no techno-utopia."


However, fear has outpaced the reality of robots taking over the human workforce, according to MIT economics professor David Autor. He noted the unreliability of some robots used today: "They'll put them in the field and if a gust of wind unexpectedly nudges a door open, they tip over," in a statement published by the Wall Street Journal.


Related Tags

Got an opinion on this news? Post a comment below!