Robotics Essay Example | Topics and Well Written Essays - 500 words

Robotics - Essay Example Use of robotics saves time to many people in the economy. This is because of their fast speed in performing tasks. An ordinary man is not likely to embrace time consuming processes and will look for means to avoid this. Taking an example of banking services, most people do not like going to queue to withdraw money over the counter. The invention of automatic teller machines (ATMs) has therefore, stepped in to solve this and I am sure many people like it. Today people can withdraw money using ATM cards any time anywhere they want. Considering the fact that we cannot get rid robots in the economy, it is necessary that the society invent ways to control the transition to the economy of robots. In that case according to Henderson, H. (2006), there is need for a maximum economic stability to curb any potential economic downturn following the displacement of workers by robots. It will be best if there is confidence of consumers in the economy to avoid people keeping their money in fear of spending it when they are rendered jobless. Creation of a good pool of innovators enables the society to manage the transition to robotic economy. This stirs up new business, and product innovations, inventions among others. This then ensures that capitalism in the economy is at is strongest point. Therefore, transition to robotic economy will not pose challenges to the society at any level. It is clear that robotic economy will come with many changes. It is best then the society is able to manage the negative changes that are likely to come with the robotic economy. The society needs to ensure that people who work in the low-paying sector of the economy get their wages raised to a relatively higher level. In that case, those rendered unemployed by robots and decide to take up low-paying jobs are able to maintain a relatively better standard of living (Henderson, 2006). This also can be justified by the fact that robotic economy is cost-effective.