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Professors: Robots to Steal 50% of Global Jobs
One professor says the government and private investment are to blame.
By Steve Crowe - Filed Jul 03, 2014

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If you're worried robots are going to steal your job in the near future and take over the world, you're not going to like what a few professors recently said at the Financial Times Camp Alphaville event.

Professors from Massachusetts Institute of Technology (MIT), Oxford University and Sussex University agree that robots will steal about 50 percent of all jobs round the world in the not too distant future as we enter a second age of machinery.

"Before the industrial revolution, it was pretty boring from an economist's point of view, but since the evolution of machines during this time, societies have become more efficient and wealthier," said Erik Brynjolfsson, director at MIT Initiative on the Digital Economy.

"We are now in the second machine age where robots take on mental, as well as physical work, which does encroach on a vast number of jobs," he added. "Robots now substitute jobs, not just complement them from previous times."

Mariana Mazzucato, the RM Philliips professor in the economics of innovation, science policy research unit at Sussex University, said the government and private investment are to blame. "Whether we talk about the changes in innovation or the relationship between robots affecting society, it all comes down to investment." He added, "China, for instance, is investing $1.7 trillion in new generation technology."

And if you're a writer, like me, it's getting scary. The Associated Press is now using robots to generate thousands of business articles per year. Poynter reports these robot-written stories will significantly increase the AP's output in this area. And the AP isn't alone. Over the past few years, several news organizations have used robot writers for some of their stories, including Forbes and the Los Angeles Times.

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