Oxford Economics, global forecasting, and quantitative analysis firm have released a new report that predicts robotic machines will displace about 20 million manufacturing jobs across the world over the next decade.
Already, the number of robots in use worldwide multiplied three-fold over the past two decades, to 2.25 million.
Trends suggest the global stock of robots will multiply even faster in the next 20 years, reaching as many as 20 million by 2030, with 14 million in China alone. This increase will be challenging for governments and policy-makers as it will impact the economy, the workplace, and society.