According to the researchers, each robot in the industry has been affecting the wages of almost 1000 workers in the United States. It leads to the wage decline of 0.42%. Thus, the overall employment-to-population ratio suffers by 0.2 percent. Hence it leads to the loss of 400,000 jobs. Thus, with every new robot, the decline continues.
The use of robots have become common in the modern world. Robots enhance production and are more accurate with compared with the humans. With the passage of time, the robots have started working in place of humans. Thus, the young generation comes with the questions like the availability of jobs in which the manpower is required. Many researchers have devised many plans for the predictions. But on the other hand, they failed to fulfill the requirements. Therefore, in order to come up with the best predictions, a team of robotics with EPFL and economists from the University of Lausanne have devised a new plan.
The plan includes the method to calculate the existing jobs which are at risk due to automation. Furthermore, they have constructed a method which includes the shift of the careers to those jobs which are not at risk. The researchers have gone through the document known as European H2020 Robotic Multi-Annual RoadMap (MAR). MAR is a strategy document includes the abilities from the latest robots likely to be required in future.
As far as the human abilities are concerned, the researchers use O*net database. O*net is a resource database from the US market. It classifies 1000 occupations and recognize the skills required by humans.
Thus the researchers matches the human abilities from O*net database with the robotic abilities from the MAR document. Hence in this way, the researchers calculate how each job occupation needs latest robots.
Challenge for Society
The biggest challenge for the society today is how to compete with the robots in the modern world. According to Professor Rafael Lalive, their work is a detailed career advise for the youngsters having threats of automation.
Hence, governments can also use this method for the overall evaluation. Apart from it, the companies and as well as the manufacturers can also use this method.