FAST FIVE: The Robots Are Coming, And They're Going To Take Over Millions Of Jobs
Unfortunately, that paradigm is rapidly changing, and many of the jobs that humans are doing today will be done by robots in the not too distant future.
The six-foot-tall Bossa Nova devices, equipped with 15 cameras each, roam aisles and send alerts to store employees' handheld devices when items are out of stock, helping to solve a vexing problem that costs retailers nearly a trillion dollars annually, according to researcher IHL Group.
So the employees that survive will get a “pay increase” to go with a huge increase in responsibility, but what about all the others that are having their jobs eliminated.
Today, Wal-Mart is the largest employer in the United States by a wide margin.
According to a new study from Oxford Economics, within the next 11 years there could be 14 million robots put to work in China alone.