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.

Read more » http://rt.com/usa/231079-robots-work-humans-labor/

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