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1. Rise of robots Pandemics lead to the rise of robots – according to the International Monetary Fund (IMF) – with low-skilled workers more at risk of displacement than high-skilled workers. The IMF analyzed the adoption of industrial robots after four previous pandemics, including SARS in 2003 and Ebola in 2014, and found automation accelerated in the years that followed. The reasons for it are twofold, say IMF economists, Tahsin Saadi Sedik and Jiae Yoo. “First, after large shocks like recessions, firms restructure their businesses and adjust production toward technologies that lower labour costs. Second, firms may prefer robots because they are immune to health risks.” ....
Caribbean News Global April 20, 2021 From car manufacture to self-service checkouts, we all see how automation can transform the world of work with lower costs and higher productivity on one hand, and more precarious employment for people on the other. But the COVID-19 pandemic added fuel to the fire. The rise in telework, for example, is hurting low-wage workers and increasing inequality. More broadly, if the pandemic accelerates the pace of automation, then we may face a jobless recovery for low-skilled workers. Our recent IMF staff research suggests that such concerns are justified. We focus on one form of automation, industrial robots, and analyze the effect of past major pandemics on their adoption: SARS in 2003, H1N1 in 2009, MERS in 2012, and Ebola in 2014. We use econometric techniques and robot data at the sectoral level from the International Federation of Robotics covering 18 industries in 40 countries between 2000 and 2018. ....