5 Million Jobs To Be Lost To Robots By 2020

Discussion in 'The Cocktail Lounge' started by Rainman, Jan 18, 2016.

  1. Rainman

    Rainman Senior Investor

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    The good news is it will be 5 million jobs in 15 countries. The bad news is most of those who'll lose their jobs are women.

    http://www.reuters.com/article/us-davos-meeting-employment-idUSKCN0UW0NV
    At least there's 4 years to prepare yourselves for this. Learn something new and maybe get a new job should a robot replace you.
     
  2. Susimi

    Susimi Senior Investor

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    A nice heads up I suppose but it doesn't help those people who will potentially lose their jobs in the next 5 years. I can imagine there's gonna be a lot of worried people out there.

    I don't think robots are the answer overall but that's just my views. Companies are always looking to save some money and they will do whatever they can. I wonder how minimum wage jobs will fare in the future?
     
  3. L_B

    L_B Well-Known Member

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    It is sad to think of so many people being jobless because of robots. It is a sign of the times though. People who think they may be affected need to change to a career where they know a robot can't replace them. It is hard if you have a lot of years into a job and then your job gets fazed out.
     
  4. crimsonghost747

    crimsonghost747 Senior Investor

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    This is a change that has been coming for years... and it will continue for years, probably decades. As robots get smarter they can do more and more advanced jobs, and they are almost always cheaper than using humans.

    This is why I truly believe that if you want to provide a good future for your children you will need to have a decent amount of money invested. It could very well be that in 20-30 years there aren't that many jobs around so additional income might be something of a necessity.
     
  5. eddiemoneys

    eddiemoneys Well-Known Member

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    They're even trying to take the transportation jobs away and automate those with Google Car. Between the truck drivers losing their jobs to automated freight driving, cab drivers and Uber being challenged to where human drivers may not be needed as much anymore, and the foolish people demanding $15 an hour to flip burgers resulting in unsustainable expenditures over revenue, American workers and the American economy is clearly in trouble. It will get to the point that the only people who will have money are the corporations, and the smart business owners and investors who can creatively adapt and overcome the onslaught of what is coming faster each day.
     
  6. ScooterBrandon

    ScooterBrandon Senior Investor

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    I am not worried about the low-skilled jobs being lost, often it's easy enough to get another one.
    Plus the adoption of robotics is only done when it's cost effective, so I personally feel that many low-skilled office drones will keep their jobs because it will cost more to automate them. ALSO many of you that have worked in offices know that typically "other duties as assigned" is actually your primary role, which is harder to automate then say just answering phones and email all day.
    It's the high-skilled jobs that are really going to hurt. The jobs where people make a lot of money have a lot of pressure to be automated because it can save money. Those are jobs where people went to school for 4+ years and sunk thousands into learning them.
    The one job that no one is talking about that will be completly crushed by automation is lawyers.
    Not like those ones on TV in courtrooms, that's such a small slice of the industry.
    MOST lawyers make their living researching, preparing briefs, sifting though paperwork and documents, interpreting legislation ect ect.
    Look it up, there is a coming wave of automation that's going to make a lot of lawyers too expensive to hire. Only the top lawyers will be keeping their jobs.
     
  7. gracer

    gracer Senior Investor

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    This is bad news for many women out there especially the skilled workers. There are always two sides to every story, and it is evident here in this scenario. The good side of the story is that we are indeed advancing with technology but the bad news is that more jobs are being lost because of technology too. Such is the case of losing jobs as robotics increase in number.
     
  8. Alex

    Alex Senior Investor

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    Technology will replace many jobs, but the cuts have been evident with companies wanting people to do more than one job. Receptionists used to answer the phone and meet people, now they sort out the mail and organize meetings for staff without a PA.

    There will be jobs that can't be replaced like cleaners and security guards, but I doubt their pay will go up.
     
  9. crimsonghost747

    crimsonghost747 Senior Investor

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    Why couldn't robots do the cleaning? And while certainly not as effective, security cameras etc are replacing certain security guards. There are very few jobs that advanced robots can't at least help with.
     
  10. nissi

    nissi Well-Known Member

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    This very well could happen and I wouldn't doubt it. But really what will take people's jobs is when the mark comes on the scene and you can't buy or sell without it.
     

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