How Is Automation Transforming The Economy?

The video discusses the increasing role of robots and automation in various sectors, including sports, manufacturing, and customer service. It highlights the potential for robots to replace human jobs but also notes the creation of new roles as technology advances. The discussion includes the advantages and limitations of robots compared to humans, emphasizing the need for adaptation in the workforce. The future job market will involve collaboration with robots, requiring humans to adapt to new roles and responsibilities.

What is one of the main reasons technology is being used to call strikeouts in baseball?

• It is cheaper than hiring human umpires.

• It is more entertaining for the audience.

• It can determine balls and strikes with greater accuracy.

• It allows for more frequent games.

According to Oxford Economics, how many global manufacturing jobs could robots replace by 2030?

• 15 million

• 10 million

• 25 million

• 20 million

What historical example is given to illustrate the impact of technological advancement on jobs?

• The rise of the internet

• The development of the steam engine

• The invention of the airplane

• The introduction of the automobile

Why are humans still necessary in certain roles despite the capabilities of robots?

• Humans are better at handling emergencies.

• Robots cannot work in hazardous conditions.

• Robots require constant supervision.

• Humans are more cost-effective.

What is the predicted net effect of automation on jobs by 2025 according to the World Economic Forum?

• A net gain of 100 million jobs

• A net gain of 15 million jobs

• A net loss of 50 million jobs

• A net loss of 85 million jobs