Automation and Robotics Technologies for Labor Market
For reference: This series of trendletters continues the practice of publishing reviews of global technological trends since 2014 and presents a unique database of global trends and challenges in the field of human development. This research of the HSE ISSEK is based on the results of iFORA Big Data System, the Delphi survey (with the participation of more than 400 leading foreign and Russian scientists), expert sessions and interviews.
Due to the rapid development of technologies human roles in production processes are changing. Routine tasks such as copyrighting or translation are gradually being delegated to artificial intelligence. According to the World Economic Forum's forecast, 50% of workers may be forced to retrain as a result of the increasing role played by new technologies in production by 2025. The global market for robotics is expected to increase to $225.6 billion by 2030, compared to $88.2 billion in 2022.
It is to be noted that individuals will face both positive and negative effects because of the increasing impact of technological innovation on the labor market. While specialists will have an opportunity to enhance their productivity and delegate certain work tasks, they will also face such challenges as an insignificance of legislative framework to protect their rights, a decline in job opportunities and a need to go through advanced training in order to develop and maintain their skills.
The market and its operating conditions are rapidly changing, even though investors are not willing to invest in new technologies, despite their potential. The reason for this could be the long payback period and the novelty of these technologies, although experts also note a lack of legislative framework.
The new issue of trendletter (Russian version) is available at the link.
Previous issues of trendletters can be found here.