Tired of working? Beware because there is a high chance you might be replaced by a metal machine.
You heard that right. The Bank of England has warned that robots could take over 80 million American and 15 million British jobs over the next 10 to 20 years. That’s around 50% of the workforce of each country.
Computers are becoming more sophisticated these days making the human labor workforce possibly an “endangered species.” Production, administrative and clerical positions are the most at risk of being substituted by androids.
However, humans need not worry too much about the sudden demand of robotic jobs according to bank’s chief economist Andy Haldane.
“Humans will adapt their skills to the tasks where they continue to have a comparative advantage over machines,” he said.
Robotic invasion is not new to the workforce. During the Industrial Revolution, many manual laborers were forced to “skill-up” and move into more high-level jobs. But Haldane warned that this situation varies now because smart robots are increasingly taking over mid-skilled jobs
which means low-skilled or very high-skilled jobs are left for humans. This could lead to job mismatch or overqualified job positions.
