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How Robots' Uptrend Affects the Economy and The Future

Year 2022, , 347 - 363, 25.06.2022
https://doi.org/10.18657/yonveek.1051194

Abstract

There is no doubt that modern technologies have greatly influenced the business world in recent years. All technological applications brought by Industry 4.0 have provided more mechanization and started processes that do not involve people. This revolution is at the initial stage of changing the world order. People can now imagine a world dominated by robots at work. In the 18th century, many people could not have imagined that such a thing would happen. Over the years, humans have perfected the technologies that robots tend to work on. In this article, the effects of the economic system called robonomics as a result of widespread use of robotics, artificial intelligence and automation are discussed. The positive and negative aspects of the effects of the increase in the use of robots on productivity, cost and labor, which are economic indicators, are examined in this article. With the widespread use of robots, it is predicted that more technicians, economists, and mechanical engineers will be needed in the workplaces, as well as unemployment concerns due to the spread of robots to work areas. The mentioned process will not take place in the short term, positions and roles will change gradually. The study has a conceptual aspect, and it reveals the effect of robots on the industrial use from different perspectives.
Key Words: Technology, Robots, Robonomics
JEL Classification: O30, J21, Z10

References

  • Acemoglu, Daron and Pascual Restrepo. 2018. Artificial Intelligence, Automation, and Work.
  • Carbonero, Francesco, Ekkehard Ernst, and Enzo Weber. 2018. “Robots Worldwide: The Impact of Automation on Employment and Trade.” ILO Working Paper 36(14).
  • Cheng, Hong, Ruixue Jia, Dandan Li, and Hongbin Li. 2019. “The Rise of Robots in China.” Journal of Economic Perspectives 33(2):71–88.
  • Chiacchio, Francesco, Georgios Petropoulos, and David Pichler. 2018. The Impact of Industrial Robots on EU Employment and Wages: A Local Labour Market Approach. Bruegel, Brussels.
  • Crews, J. 2016. Robonomics: Prepare Today for the Jobless Economy of Tomorrow. Create Space Independent.
  • Dauth, Wolfgang, Sebastian Findeisen, Jens Südekum, and Nicole Woessner. 2018. “Adjusting to Robots: Worker-Level Evidence Wolfgang.” in Opportunity and Inclusive Growth Institute Working Papers 13, Federal Reserve Bank of Minneapolis.
  • Dixon, Jay, Bryan Hong, and Lynn Wu. 2019. “The Employment Consequences of Robots: Firm-Level Evidence.” SSRN Electronic Journal.
  • Frey, Carl Benedikt and Michael A. Osborne. 2017. “The Future of Employment: How Susceptible Are Jobs to Computerisation?” Technological Forecasting and Social Change 114:254–80.
  • Graetz, Georg and Guy Michaels. 2003. “Robots At Work.” Review of Economics and Statistics 100(5):753–68.
  • Humlum, Anders. 2019. “Robot Adoption and Labor Market Dynamics.” Job Market Paper 1–78.
  • Ivanov, Stanislav. 2017. “Robonomics - Principles , Benefits , Challenges , Solutions.” Yearbook of Varna University of Management, 10:283–93.
  • Ivanov, Stanislav. 2021. “ROBONOMICS: The Journal of the Automated Economy.” The Journal of The Automated Economy I(II):1–13.
  • Klenert, David, Enrique Fernández-Macías, and José Ignacio Antón Pérez. 2020. “Do Robots Really Destroy Jobs? Evidence from Europe.” JRC Working Papers Series on Labour, Education and Technology 01.
  • Koch, Michael, Ilya Manuylov, and Marcel Smolka. 2021. Robots and Firms.
  • Lucas, Robert E. 1988. “On The Mechanics Of Economic Development.” Journal of Monetary Economics 22(1):3–42.
  • Mutascu, Mihai. 2021. “Artificial Intelligence and Unemployment: New Insights.” Economic Analysis and Policy 69:653–67.
  • Romer, Paul M. 1986. “Increasing Returns and Long-Run Growth.” Journal of Political Economy 94(5):1002–37.
  • Saich, Antony. 2020. “Testimony Before The US - China Economic and Security Review Commission: Year in Review.” in U.S.-China Economic and Security Review Commission.
  • Su, Grace. 2018. “Unemployment in the AI Age.” AI Matters 3(4):35–43.
  • Wang, Weiyu and Keng Siau. 2019. “Artificial Intelligence, Machine Learning, Automation, Robotics, Future of Work and Future of Humanity: A Review and Research Agenda.” Journal of Database Management 30(1):61–79.
  • Wirtz, Jochen, Paul G. Patterson, Werner H. Kunz, Thorsten Gruber, Vinh Nhat Lu, Stefanie Paluch, and Antje Martins. 2018. “Brave New World: Service Robots in The Frontline.” Journal of Service Management 29(5):907–31.
  • World Economic Forum (WEF) (2018). Towards a Reskilling Revolution. A Future of Jobs for All, January 2018.

Robotların Yükseliş Trendi Ekonomiyi ve Geleceği Nasıl Etkileyecek?

Year 2022, , 347 - 363, 25.06.2022
https://doi.org/10.18657/yonveek.1051194

Abstract

Modern teknolojilerin son yıllarda çalışma dünyasını büyük ölçüde etkilediğine şüphe yoktur. Endüstri 4.0 'ın getirmiş olduğu tüm teknolojik uygulamalar daha fazla mekanizasyon sağlayarak insanların dâhil olmadığı süreçler başlatmışlardır. Bu devrim, dünya düzenini değiştirmenin başlangıç aşamasındadır. İnsanlar, artık iş yerlerinde robotların hükmettiği bir dünya hayal edebilmektedirler. 18. yüzyılda, birçok insan böyle bir şeyin olacağını hayal dahi edemezdi. Yıllar geçtikçe, insanlar robotların üzerinde çalışma eğiliminde oldukları teknolojileri mükemmelleştirdi. Bu makalede robotik, yapay zeka ve otomasyonun yaygınlaşması sonucu robot ekonomisi (Robonomics) adı verilen ekonomik sistemin etkileri tartışılmaktadır. Robot kullanımındaki artışın ekonomik göstergelerden verimlilik, maliyet ve emek üzerine etkilerinin olumlu ve olumsuz yanları bu makalede incelenmektedir. Robotların kullanımının yaygınlaşması ile işyerlerinde daha fazla teknisyene, ekonomiste ve makine mühendislerine ihtiyaç duyulacağı gibi aynı zamanda robotların iş alanlarına yayılmasından duyulan işsizlik endişesi de yaratması tahmin edilmektedir. Bahsedilen süreç kısa vadede gerçekleşmeyecek olup, pozisyonlar ve roller kademeli olarak değişecektir. Çalışma kavramsal nitelikte olup, robotların endüstriyel alandaki kullanımına yönelik etkisini farklı açılardan ortaya koymaktadır.
Anahtar Kelimeler: Teknoloji, Robotlar, Robot Ekonomisi
JEL Sınıflandırması: O30, J21, Z10

References

  • Acemoglu, Daron and Pascual Restrepo. 2018. Artificial Intelligence, Automation, and Work.
  • Carbonero, Francesco, Ekkehard Ernst, and Enzo Weber. 2018. “Robots Worldwide: The Impact of Automation on Employment and Trade.” ILO Working Paper 36(14).
  • Cheng, Hong, Ruixue Jia, Dandan Li, and Hongbin Li. 2019. “The Rise of Robots in China.” Journal of Economic Perspectives 33(2):71–88.
  • Chiacchio, Francesco, Georgios Petropoulos, and David Pichler. 2018. The Impact of Industrial Robots on EU Employment and Wages: A Local Labour Market Approach. Bruegel, Brussels.
  • Crews, J. 2016. Robonomics: Prepare Today for the Jobless Economy of Tomorrow. Create Space Independent.
  • Dauth, Wolfgang, Sebastian Findeisen, Jens Südekum, and Nicole Woessner. 2018. “Adjusting to Robots: Worker-Level Evidence Wolfgang.” in Opportunity and Inclusive Growth Institute Working Papers 13, Federal Reserve Bank of Minneapolis.
  • Dixon, Jay, Bryan Hong, and Lynn Wu. 2019. “The Employment Consequences of Robots: Firm-Level Evidence.” SSRN Electronic Journal.
  • Frey, Carl Benedikt and Michael A. Osborne. 2017. “The Future of Employment: How Susceptible Are Jobs to Computerisation?” Technological Forecasting and Social Change 114:254–80.
  • Graetz, Georg and Guy Michaels. 2003. “Robots At Work.” Review of Economics and Statistics 100(5):753–68.
  • Humlum, Anders. 2019. “Robot Adoption and Labor Market Dynamics.” Job Market Paper 1–78.
  • Ivanov, Stanislav. 2017. “Robonomics - Principles , Benefits , Challenges , Solutions.” Yearbook of Varna University of Management, 10:283–93.
  • Ivanov, Stanislav. 2021. “ROBONOMICS: The Journal of the Automated Economy.” The Journal of The Automated Economy I(II):1–13.
  • Klenert, David, Enrique Fernández-Macías, and José Ignacio Antón Pérez. 2020. “Do Robots Really Destroy Jobs? Evidence from Europe.” JRC Working Papers Series on Labour, Education and Technology 01.
  • Koch, Michael, Ilya Manuylov, and Marcel Smolka. 2021. Robots and Firms.
  • Lucas, Robert E. 1988. “On The Mechanics Of Economic Development.” Journal of Monetary Economics 22(1):3–42.
  • Mutascu, Mihai. 2021. “Artificial Intelligence and Unemployment: New Insights.” Economic Analysis and Policy 69:653–67.
  • Romer, Paul M. 1986. “Increasing Returns and Long-Run Growth.” Journal of Political Economy 94(5):1002–37.
  • Saich, Antony. 2020. “Testimony Before The US - China Economic and Security Review Commission: Year in Review.” in U.S.-China Economic and Security Review Commission.
  • Su, Grace. 2018. “Unemployment in the AI Age.” AI Matters 3(4):35–43.
  • Wang, Weiyu and Keng Siau. 2019. “Artificial Intelligence, Machine Learning, Automation, Robotics, Future of Work and Future of Humanity: A Review and Research Agenda.” Journal of Database Management 30(1):61–79.
  • Wirtz, Jochen, Paul G. Patterson, Werner H. Kunz, Thorsten Gruber, Vinh Nhat Lu, Stefanie Paluch, and Antje Martins. 2018. “Brave New World: Service Robots in The Frontline.” Journal of Service Management 29(5):907–31.
  • World Economic Forum (WEF) (2018). Towards a Reskilling Revolution. A Future of Jobs for All, January 2018.
There are 22 citations in total.

Details

Primary Language English
Journal Section Articles
Authors

Dilek Gönçer Demiral 0000-0001-7400-1899

Meltem Ince Yenilmez 0000-0002-4689-3196

Publication Date June 25, 2022
Published in Issue Year 2022

Cite

APA Gönçer Demiral, D., & Ince Yenilmez, M. (2022). How Robots’ Uptrend Affects the Economy and The Future. Journal of Management and Economics, 29(2), 347-363. https://doi.org/10.18657/yonveek.1051194