Robots Will Be The New Illegal Immigrant, Economists SayPosted: March 1, 2017 Filed under: Economics, Robotics, Science & Technology, Think Tank | Tags: Artificial Intelligence, Automation, Bank of England, Bank Underground, Robots, Unemployment, United Kingdom, Workforce 1 Comment
The U.S. stands to lose 80 million jobs to automation.
Thomas Phippen reports: The robotic labor revolution is coming quickly, and the workforce may not be able to adapt without long periods of unemployment, according to economists at the Bank of England.
“Economists should seriously consider the possibility that millions of people may be at risk of unemployment, should these technologies be widely adopted.”
“Economists should seriously consider the possibility that millions of people may be at risk of unemployment, should these technologies be widely adopted,” BOE economists Mauricio Armellini and Tim Pike wrote in a post on Bank Underground, a blog for bank employees, Wednesday.
Artificial intelligence (AI) “threatens to transform entire industries and sectors,” the authors write, arguing that with the speed of industries adopting technological developments won’t give the labor force time to adjust.
The U.S. stands to lose 80 million jobs to automation, another BOE economist estimated in 2015. … (read more)
Source: Daily Caller
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