Welcome to the robots

Robots - Economic outlook
17-09-05 12:01 | Economic outlook

What do a pharmacist, security guard and chef all have in common? These are just some of the jobs already being done by robots, with the list ever growing.

Rapid advances in robotics, automation and artificial intelligence (AI) have sparked fears of an imminent “robocalypse” where robots take over many of the jobs traditionally done by humans, leading to mass unemployment. But have no fear, write Nordea Markets analysts Erik Bruce and Joachim Bernhardsen in the new issue of the Nordea Economic Outlook.  

“Machines replacing humans is not a new thing. It is the main reason behind the enormous improvement in welfare since the industrial revolution,” says Bruce, and this time is not likely to be much different.

Moreover, with the Western world and many developing countries facing huge demographic challenges due to an ageing population, robots could fill a critical gap, helping to lift productivity and welfare. 

That’s not to say that the dawn of the robots will be challenge free. By taking over routine, middle-skill jobs, robots could displace workers in the middle class, leaving jobs for humans concentrated at the top and bottom ends of the pay scale. That could exacerbate income inequalities.

Learn how the Nordics are particularly well-suited to confront these challenges and reap the benefits of automation in this special report

Also in this Economic Outlook:

- Country-specific economic forecasts for the Nordics and the global outlook

- China heads into its blockbuster political event – the National Congress of China’s Communist Party – this fall. Will there be a shuffle in the country’s top ranks that shapes the country’s future economic course?

- What to expect from Germany’s upcoming election and future government

Download the full report here

Read the press release here. 

Latest news by Nordea

Showing 5 of 242 results

Man in parachute

Coronavirus: Plan B

Economic outlook Nordea podcasts

Could the pandemic be resolved by a vaccine or therapy next year, or will we need to accept that it continues to burden the economy?

Men in solar panel field

Sustainable investment – good for your assets and for the planet

Sustainability Markets and investments

Read our new publication on sustainable investment

Nordea’s funds get excellent scores in responsible investment report from the UN

Markets and investments Sustainability

Nordea Asset Management has been awarded outstanding scores by the United Nations-supported Principles of Responsible Investment (PRI).

Slush event in Helsinki

Slush 2020: Nordea hosts virtual speed dates for startups and investors

Digital banking About Nordea

Nordea is a main partner of Slush, the world’s leading startup and tech event. Nordea’s focus is on helping investors and startups find their best matches.

Businesswoman and man reading file in office corridor

Making the right choices for a sustainable future

Sustainability About Nordea

Over the last seven years, Nordea’s procurement team has worked diligently on embedding sustainability in its core processes.

Showing 5 of 242 results