We all knows robots are taking peoples jobs and this research paper shows the dramatic degree to which industrial robots are replacing human employees and forcing down salaries and increases the productivity

We all knows robots are taking peoples jobs and this research paper shows the dramatic degree to which industrial robots are replacing human employees and forcing down salaries and increases the productivity. From my research I found some big countries and popular companys names who are already taking advantage of robotics to cut down on labor costs and streamline their production. Industrial robots are being put to work on a massive scale in china. Taking the case of electronics giant foxconn jenny chan considers what an automated future holds in store for human workers.
China has become the worlds leadind importer of commercial robots as they goes fully for robotics. It is progressively producing them reception. the government shares and actively pursues its vision of replacing humans with robots with mega-corporations because it seeks to squeeze out low-end industries plastics toys furniture clothes and also the like whereas giving subsidies and bank loans to higher worth industries like natural philosophy vehicles infotech and biotech. In 2025 to remodel the world factory into a strategic base of intelligent producing the national programme of china made plans by doing this they are thinking there will a rise in productivity per employee which regularly interprets as less jobs in business. Within the town of dongguan that encompasses a $30-million annual fund to spice up firms productivity 87 000 staff were replaced by robots between 2014 and 2016. in zhejiang province 2 000 000 lost their jobs between 2013 and 2015.
What this robotic future might mean for industrial employees will be understood by observing the countrys largest bourgeois of advanced shopper physical science and also the worlds largest physical science computer program taiwanese-owned foxconn technology cluster. foxconn gained worldwide ill fame for poor operating conditions in its factories that allegedly diode to a spate of employee suicides in 2010. The tragic loss of fourteen lives didnt appear to impact the economic empire the companys fortunes are on a roll. once reaching 100 000 staff in 2003 foxconn expanded by leaps and bounds to over 700 000 in 2008 and tried resilient throughout the world economic worsening continued to expand its international labor force that reached 1,000,000 in 2011 and 1.3 million in 2012. in the production method employees occupy rock bottom position even below the lifeless machinery then comes the turning point: in 2015 foxconns total labor force born back to around 1,000,000 and by the top of 2016 any still to 873 467. meanwhile its annual profits soared reaching associate degree unprecedented $4.9billion. in revenue terms fortune international five hundred ranks foxconn additionally referred to as hon hai exactitude business twenty seventh hot on the heels of amazon.com. when it replaced 60 000 employees with robots in one manufacturing plant foxconn boasted to the BBC that its positioning itself with peking leaders united nations agency ask for to upgrade the technological levels of Chinese workers: we area unit applying ai engineering and different innovative producing technologies to interchange repetitive tasks antecedently done by employees; and thru coaching additionally alter our staff to specialize in higher added parts within the producing method like analysis and development method management and internal control. However technical skills coaching for a couple of aside the bulk of foxconn employees still toil day and night with slim prospect of upgrading. Rather more doubtless is that the prospect of replacement by foxbots.
In my research I found that the robots also affect the US economy. in the national bureau of economic research Daron Acemoglu of MIT and Boston University Pascual Restrepo published their findings where they said that each further automaton within the united states economy reduces employment by 5.6 workers and each automaton thats additional to the manpower per one thousand human employees causes wages to drop the maximum amount as 0.25 to 0.5 percent.

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