As technology gains in sophistication, the manufacturing industry will be one of the hardest hit in terms of job losses according to a recent study. UK research and consulting firm, Oxford Economics, predicts that robots will take over 20 million manufacturing jobs worldwide by 2030.
In lower-skilled regions, job losses will be twice as high as those in higher-skilled regions, even in the same country, the study found.
Researchers say that “robots will increasingly play in sectors including retail, healthcare, hospitality, and transport as well as construction and farming.”
But it’s not all bad news, as “robotisation” is expected to ultimately boost productivity and economic growth, and generate roughly as many new jobs as it impacted.
“We found that jobs where repetitive functions are required are most affected, with those such as warehouse work at imminent risk,” the authors wrote.
Jobs in less structured environments, which demand “compassion, creativity or social intelligence” are likely to be carried out by humans for the foreseeable future.