Robots to Unleash Mass Unemployment in Mining Industry Within 10 years

Automation will replace 40% to 80% of the workers in the industry.

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Automation in the mining industry is primarily aimed at cutting the costs of extracting minerals, however, according to a new report by the International Institute for Sustainable Development in Winnipeg, Canada, in the next ten years, the industry may lose more than half of its jobs with robotic replacements.

Aaron Cosbey, a development economist and a report author, says, “Where you can find robotic replacements for human labor you tend to do it.” He estimates that automation will replace 40% to 80% of the workers in the industry.

Driverless technology can increase output up to 20%, while decreasing fuel consumption up to 15%, according to the article. “This will increase demand for people with IT skills who can set up and operate the automation systems — but at far smaller numbers than the people automation displaces.” “Most affected will be miners in the lesser-skilled trades, including heavy-equipment operators, drivers and maintainers.”

Also see : ICICI Bank hires bots that are processing 10 lakh transactions per day.

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