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In: Finance

4) Automated robots are often used in factory plants to reduce labor costs. However, these robots...

4) Automated robots are often used in factory plants to reduce labor costs. However, these robots take the place of human workers that often lose their jobs. With robots becoming more and more capable of performing complex tasks, it is inevitable that more businesses will seek to implement them in a variety of roles. Do you think this is fair? If you were a business-owner with the opportunity to increase your profit by utilizing robotics and firing several of your workers, what would you do? Are there any jobs that you feel robots should never be allowed to do?

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Expert Solution

Fair or not fair depends upon individual perspective but when we answer this question in a general perspective and overall economic perspective it is fair.
It is fair because it'll be adding more value to society and when the value is added to the society it generates income. Short term it might look unfair to fire people and take away their jobs but in the long term, they will be doing much better jobs if they are able to adapt to change & be skilled enough.

For example: When the motor engine was invented, it has destroyed thousands of transport jobs (horse and rickshaw pullers) but the automobile industry has created more jobs then it has destroyed. Better jobs, high paying jobs.

The same thing will happen with the robotics industry. It will also create more jobs then it will destroy in the long term.

If given the opportunity to replace man with machine. I will do it any day, if it creates profit from my business in the long run.

The robots should not be allowed or given the job of administration or lawmakers.
Jobs like becoming a politician or judge. Because with the advancement of artificial intelligence it is not far that robots will become good decision-makers but I feel that Human should be administrated by Humans. Because only a human can understand another human being better.


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