Future robots won’t own you. You’ll own the robot.

The robots are not taking our jobs. Yet. There are few if any signs of this occurring. If robots were replacing us, we’d see significant increases in productivity, but productivity growth is slow everywhere in the world right now. If a mass replacement of humans by machines were happening it would probably cause a large investment boom. Instead, we’re seeing an investment drought in rich countries, as companies sit on cash. In addition, there is little evidence that capital-labor substitutability — the economics term for employers’ ability to replace humans with machines — is increasing. But that doesn’t mean that the rise-of-the-robots scenario is unthinkable. It isn’t happening today, but it’s something that might take place 50, 75 or 100 years in the future. It would be an unprecedented change…


Link to Full Article: Future robots won’t own you. You’ll own the robot.

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