Will Robots Replace Humans? The Impact of Robotics on the Labor Market

The question of whether robots will replace humans has become increasingly relevant during the pandemic. With the rise of service robotics in various industries, it's important to consider the impact of robotics on the labor market.

Robots are already working in many industries, including banking, healthcare, hospitality, and retail. For example, the humanoid robots Pepper of the Japanese manufacturer SoftBank Robotics serve customers in stores and hotels, help in hospitals and care facilities for the elderly, and welcome visitors in museums. The Nao robot, also manufactured by SoftBank Robotics, performs similar functions.

Some robots are even capable of recognizing and expressing emotions. The humanoid robot Sophia, created by the Hong Kong company Hanson Robotic, can use more than 60 different facial expressions depending on the situation. According to experts, robots are able to recognize the gender, age, and mood of the interlocutor and build their speech behavior accordingly. In addition to this, machines have learned to empathize with the emotional state of a person.

While the ability of robots to empathize is far from human empathy, "in general, such functionality already exists," explains an expert. "Robots and AI are already successfully recognizing smiles, sadness, and other emotions. This task is quite within the power of modern artificial intelligence systems. They are of paramount importance for the development of service robotics, because a robot can behave somehow differently, can suggest something, react somehow."

The demand for robotics is expected to grow. The market size of social robots, which are designed to interact with people in areas such as healthcare, education, retail, entertainment, household, and others, should reach $912.4 million by 2026. The value of the global market for service robotics, which is used in the field of security, logistics, and space research, among other things, will grow from 36.2 billion in 2021 to \103.3 billion in 2026. Research firm MarketsandMarkets predicts a CAGR of 23.3% during this period. Also, according to the forecasts of the digging JobToRobots, the labor market for robots will grow by at least 38% every year until 2030.

While the rise of robotics may lead to some job displacement, it's important to note that robots are not replacing humans, but rather helping them on the job. The use of robotics in various industries can improve efficiency, accuracy, and safety, and free up human workers to focus on more complex tasks.

In conclusion, the impact of robotics on the labor market is complex and multifaceted. While some jobs may be automated, new jobs may also be created in the field of robotics. The key is to prepare for these changes and adapt to the new reality.