Robotics and Automation to Liberate $12 Trillion by 2035

Robotics and Automation to Liberate $12 Trillion by 2035

Robots aren’t just for auto manufacturers anymore. Driven by continued cost declines and easier programming, more businesses are adopting robots. Amazon’s robot workforce in warehouses has grown from 1,000 to nearly 50,000 since 2014. “And they have never laid off anyone, other than for performance reasons, in their distribution centers,” Wood said.

But she understands fears over lost jobs.

This is only the beginning of a big round of automation driven by cheaper, smarter, safer, and more flexible robots. She agrees there will be a lot of displacement. Still, some commentators overlook associated productivity gains. By 2035, Wood said US GDP could be $12 trillion more than it would have been without robotics and automation—that’s a $40 trillion economy instead of a $28 trillion economy.