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How Is Automation Transforming The Economy?

Robots are already changing the way we commute, deliver goods, care for patients, and even what we do in the bedroom.
Posted at 5:03 PM, Dec 12, 2022
and last updated 2022-12-12 17:03:33-05

It's among the most famous calls in sports, but the people tasked with calling strikeouts may soon be a relic of the past, just like  like bubblegum in your pack of baseball cards and organs at the ballpark. Technology can now determine balls and strikes with more accuracy than any human, and minor league baseball is already using it.  

Robots are already changing the way we commute, deliver goods, care for patients, and even what we do in the bedroom. Over the last two decades, the number of robots in the workplace has gone up threefold around the world, to more than 2.2 million. 

Automation is transforming the world economy in myriad ways. This includes software that does tasks like data entry, accounting, scheduling, and administration; chatbots that provide customer service by phone or texting; and self-service stations in retail stores and restaurants. 

By 2030, there could be as many as 20 million robots operating, according to Oxford Economics.  

And in jobs where humans occasionally strike out, robots are proving to be more reliable. 

"We're going to have to figure out how to live and function in a world where there might not be enough work to go around," said Martin Ford, the author of "Rise of the Robots: Technology and the Threat of A Jobless Future." 

Software, algorithms and robots are threatening jobs across the economy.

Robots could replace as many as 20 million global manufacturing jobs by 2030, according to that analysis from Oxford Economics. 

Robots Are A Growing Part Of U.S. Workforce

Robots Are A Growing Part Of U.S. Workforce

Experts are pleased with how quickly robots are being added to the workplace. A mechanized future is well on its way.

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and robots, unlike that one coworker, can be easier to work with. They don't complain, don't take vacation, don't need benefits and can work around the clock.  

But don't hand over the keys to the robots just yet. As some jobs disappear, new ones are created. It's what happens when technology of any sort advances.

In the mid 1800s train jobs were hot. Fast forward to the turn of the century and suddenly train companies were hitting the brakes on hiring. Why? Because technology advanced. The robot of that era was the automobile. Train related jobs dropped, but a new industry was born and jobs related to cars boomed. 

So what's that mean for today? The robots aren't completely taking over yet. Someone still has to tell the robots what to do and there are some things that humans are just better equipped to handle — like emergencies. 

Plus, even when robots can do the job better, there's still a hesitation to hand over the reins in some industries. It's been a hot topic on MLB's own TV channel. 

But many sectors will change if it means a stronger bottom line. So how worried should you be? Consider this: According to an analysis from The World Economic Forum, by 2025, 85 million jobs could be lost or changed because of automation like robots or software, but almost 100 million new jobs could emerge because of them. 

So get ready for a future that involves working alongside and competing with robots.