Advancements in industrial robotics have had a significant impact on the workforce. The rise of automation, particularly robots, has raised concerns about the potential displacement of human workers and changes in employment and wages . Here are some key points regarding the impact of industrial robotics on the workforce:
1. Negative Impact on Workers: Research suggests that industrial robots have a negative impact on workers. A study conducted by MIT and Boston University found that industrial robots do have a negative impact on employment and wages .
2. Reshaping Industries and Job Markets: The advancements in robotics are reshaping industries and job markets. As robots become more capable and cost-effective, they are increasingly being used in various sectors, leading to changes in the types of jobs available and the skills required .
3. Potential Job Displacement: The adoption of industrial robots can lead to job displacement, particularly in tasks that are repetitive and can be easily automated. Jobs that involve manual and repeatable tasks, such as those on assembly lines, may see a decline in demand.
4. Economic Implications: The impact of industrial robotics on the economy can vary. Companies that embrace automation and adopt advanced technologies like AI are more likely to experience positive economic outcomes. According to a McKinsey analysis, front-runner companies in adopting Industry 4.0 technologies can expect a 122% positive cash flow change, while follower companies may see just a 10% change. However, companies that fail to adopt AI could experience a 23% downturn .
5. Transforming Skill Sets: The integration of robotics in industries is transforming the skill sets required by the workforce. Demand for physical and manual skills in repeatable tasks is expected to decline, while there will be an increased demand for skills related to connectivity, data analysis, and computational thinking .