Robots likely to replace 2 million manufacturing jobs by 2030: Report
Updated: 2019-06-26 16:37:54 KST
Robots are likely to replace two million manufacturing jobs by 2030.
That's according to a report by UK-based research firm Oxford Economics, which estimates that each new robot will take the place of an average of 1.6 manufacturing jobs.
About 1.7 million manufacturing jobs have been displaced by robots since 2000.
The report says the biggest displacements will take place in low-skilled areas and repetitive jobs which could worsen social and economic inequality.
It called for countries to prepare for automation with policies that include better training and welfare programs.
On a brighter note, the report said automation will increase productivity, in turn, boosting growth and creating more jobs.
It added that a 30 percent increase in robots installed worldwide, would boost global GDP by five trillion U.S. dollars.