Supply Chain Graphic of the Week on Changing Robot Cost Dynamics

Robotic & automation

Technology / Robotic & automation 538 Views

We all know the robots are coming across the supply chain. The impact is likely tobe dram atic, though there remains much debate about the next impact on jobs.

Let's just say this: the cost dynamics are clearly in the robots favor.

As shown in the chart below, recently published on the Racounter web site based on data from The Economist magazine, McKinsey and others, the costs of robots continue to decline, while the costs of labor march ever higher:

With those cost dynamics and the ever improving capabilities of robots, driven by advances in software and AI, it is clear the growth of robot deployments will be strong indeed, and likely to really take off in the mid-2020s.

What happens to jobs and society from there is anyone's guess.