Don’t fear an AI-induced jobs apocalypse just yet

This article discusses the debate around automation and its potential to displace jobs, and examines the current state of automation in the West.

Key takeaways:

1. Automation is becoming increasingly prevalent, with AI-enabled automation and robots becoming more commonplace.
2. Despite fears of job displacement, labour markets in the West are currently historically tight.
3. The adoption of robots in the West is still relatively low, with South Korea having the highest ratio of robots to humans.

Counter arguments:

1. Automating processes can be difficult to get right in practice.
2. The cost of robots has decreased, but the global stock of industrial robots is still relatively low.