Robots are slowly replacing us

July 09, 2019

The robots are here. A new study shows that firms that adopt robots see large increases in productivity and displace less innovative firms. But there is a problem. Robots are different from other types of capital investments. They perform tasks without direct or constant human interaction. Thus, robots can replace humans in the production process. Some studies suggest that as much as 47% of total U.S. employment could be automated. The question is this good or bad for workers.