The pandemic has prompted more companies to replace workers with robots and artificial intelligence to reduce the spread of Covid-19 in the workplace and lower operating costs.
A recent paper by economists at the Massachusetts Institute of Technology and Boston University predicts that robots could replace up to two-million workers in the manufacturing sector alone by 2025. The rise of automation comes as the U.S. has reduced spending on employee retraining. Meanwhile, companies are not creating enough new jobs to make up for those lost to automation.
"A billion people will lose their jobs over the next 10 years due to AI, and if anything, Covid has accelerated that by about nine years," says Udacity CEO Gabe Dalporto. "If you tried to reskill a billion people in the university system, you would break the university system."
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