CounterFire:
Robots and AI: utopia or dystopia? Part one
23 September 2017
In recent work, Graetz and Michaels looked at 14 industries (mainly manufacturing industries, but also agriculture and utilities) in 17 developed countries (including European countries, Australia, South Korea, and the US). They found that industrial robots increase labour productivity, total factor productivity, and wages. At the same time, while industrial robots had no significant effect on total hours worked, there is some evidence that they reduced the employment of low skilled workers, and, to a lesser extent, also middle skilled workers.