Automation and robotisation

• S&T advancement is an important source for creation of jobs; in India for example, which has 600 million people (50% of the country's 1.25 billion population) under the age of 25 and a high rate of poverty — hence, needs many jobs over the next years — it is estimated that new technologies create 100 new jobs for each 10 potentially displaced by them; therefore, India aims to become a 1 trillion digital economy by 2023. | Related Megatrends: Technology; Education; Work
• The use of industrial robots is positively correlated with total employment.
• Trends to date indicate that robots might not replace jobs as a whole but only certain tasks, leanding to the restructuring of certain tasks, enhancing labour productivity and, potentially, employment.
• Job creation effects of technology may compensate for job destruction linked to automation. In the next decade, employment growth is likely to concentrate at both ends of the occupational ladder.
• Global assets managed by robo-adviser portfolio managers are expected to reach $13 trillion by 2025 (up from $100 billion as of December 2016) and the concentration of financial institutions using algorithms is already underway (e.g. TIAA financial services firm bought the business-to-business robo-adviser MyVest in 2016; Invesco investment management firm bought Atlanta-based robo-adviser Jemstep). | Related Megatrends: Technology; Work

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