Image: Up to 50% of the global workforce could be replaced by robots over the next four to five decades. Human workers are considerably more expensive.
BBC - Apple and Samsung supplier Foxconn has reportedly replaced 60,000 factory workers with robots. One factory has "reduced employee strength from 110,000 to 50,000 thanks to the introduction of robots", a government official told the South China Morning Post.
Foxconn has been criticized for years for inadequate working conditions, which led to a string of suicides at its manufacturing facilities a few years ago. Foxconn employees have complained of being overworked, sleeping in less-than-ideal dormitory conditions, and not being paid fairly.
Xu Yulian, head of publicity for the Kunshan region, added: "More companies are likely to follow suit." China is investing heavily in a robot workforce.
Economists have issued dire warnings about how automation will affect the job market, with one report, from consultants Deloitte in partnership with Oxford University, suggesting that 35% of jobs were at risk over the next 20 years.
Former McDonald's chief executive Ed Rensi recently told the US's Fox Business programme a minimum-wage increase to $15 an hour would make companies consider robot workers. "It's cheaper to buy a $35,000 robotic arm than it is to hire an employee who is inefficient, making $15 an hour bagging French fries," he said.
An even more telling forecast was made by researchers Carl Benedikt Frey and Michael Osborne in their 2013 paper "The Future of Employment," in which they predicted about 50 percent of jobs will disappear over the next four to five decades.
Sources:
http://www.bbc.com/news/technology-36376966
http://www.marketwatch.com/story/fox...ina-2016-05-25
http://www.theverge.com/2016/5/25/11...ng-smartphones