Robotization and Welfare Trends in Future

Abstract

There are concerns over the present and possible future impact of new advancements like robots and artificial intelligence on welfare. Experts from different fields including science and business have been concentrating on how new developments may affect the job market, and more broadly how new advancements will influence the society. It would be easy to get support for the use of robots for the tasks which are too difficult or too dangerous for humans. What is the capital owners' focus at that point? What are the economic and social consequences of robotization? In this chapter, literature review including the recent thoughts on how developments in robotics may cause major changes in welfare distribution and revolutionary economic changes is presented.