By Andrew Dyer, investment manager at Baird Capital
Industry 4.0, the catch-all phrase to describe industry’s embrace of Big Data, the internet of things and robotics, tends to inspire equal feelings of excitement and anxiety.
Excitement for the manufacturers who dream of lower costs, greater efficiencies and faster and greater outputs, anxiety for the millions of workers around the world who fear that the robotic revolution will leave them without a job.
A new study by the OECD suggests, however, that they needn’t be too worried. Whereas previously pundits warned that close to 50 per cent of American jobs would soon be lost to automation, the OECD now predicts just 14 per cent of jobs in OECD countries could now be lost to robots. [Read more…] about The collaborative robotics revolution: A panacea for low productivity and an ageing work force?