Robots won’t replace human employment: World Bank
Despite predictions that machines will replace humans, and the increasing popularity of automation, global jobs remain largely unaffected.
In its World Development Report 2019, the World Bank acknowledged that technological advances have allowed automation to replace humans in handling thousands of routine tasks – and that it these will enable the termination of low-skill jobs in both developed and emerging markets.
However, the report – led by chief economist Pinelopi Koujianou Goldberg – noted that automation is also enabling the creation of new jobs that are more creative and productive.
The bank maintains that the nature of work in the future will evolve and humans will adjust accordingly.
The report did note that the share of work resulting from industrial employment has dropped by 10% in the last 20 years, in countries such as the UK, Spain, and Singapore.
But this was attributed to workers shifting successfully from manufacturing to service jobs.