FAST FIVE: The Robots Are Coming, And They're Going To Take Over Millions Of Jobs

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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.

Categories: ZH