Robots aren't threatening our jobs, says think tank

The advances in technology and robotics won’t have an adverse effect on employment, according to the Adam Smith Institute.

The think tank has said that despite studies suggesting that a large number of jobs in sectors such as transport, logistics and administration could be automated, this will not have a damaging impact on the number of jobs available.

The Institute says: “Technological progress tends to have two differing effects on employment. At first there is displacement, as workers are substituted for new technology. However, efficiencies gained from automation often reduce prices, increasing real income and the demand for other goods.

“Companies will move into industries where productivity and demand is high and create new jobs, or use new technology to create new industries. Automation also frees up displaced workers to utilize their skills in other, potentially more fulfilling and creative ways.”

This is supported by findings from the Centre of Economic Performance at the LSE which shows that the contribution robots make to economic growth is substantial – 0.37 of GDP growth. In addition to raising annual labour productivity by 0.36 points.

The Institute concludes: “Presumably time will tell whether this is trend truly worthy of concern, and whether displaced workers are able to find alternative jobs elsewhere. For now, though, this study suggests that robots are tools which assist with and complement our jobs, as opposed to threaten them.”