Robots rising: Automated workforce rapidly gaining on humans, will push labor costs down – report

Robots will become cheaper and more efficient in the coming years, replacing human workers at a faster clip than expected while driving labor costs down by 16 percent, according to a new report.

The number of industrial robots will jump by 10 percent a year in the world’s top 25 export nations through 2025, according to the Boston Consulting Group’s report, The Shifting Economics of Global Manufacturing.” The current growth rate is about 2 or 3 percent per year.

The abundance of robotic workers will slash labor costs by 22 percent in the United States, 33 percent in South Korea, and 25 percent in Japan.

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