Robots Are Not Your Economic Enemy

In this era of rapid technological progress, many of us cannot help but wonder what the future holds. In particular, improvements in automation have sparked a conversation on the impact that robots will have on the demand for labor. Some projections are rather dystopian, suggesting that a large part of humanity will be rendered permanently jobless as workers are replaced by robots.

In December, physicist Stephen Hawkingcautioned, “The automation of factories has already decimated jobs in traditional manufacturing, and the rise of artificial intelligence is likely to extend this job destruction deep into the middle classes, with only the most caring, creative or supervisory roles remaining.”

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