Changing Workforce / Industrial Robotics

Barclays: Robotics and automation will “safeguard” manufacturing jobs

By Derek du Preez, for Diginomica

Nov 30, 2015

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Banking giant Barclays has released a report that says that not only could investment in robotics and automation “safeguard” tens of thousands of jobs in the manufacturing sector, but it could also add £60 billion ($90.3 billion) to the British economy within a decade.

Detail within the report raises questions about what types of jobs would be saved, given that it also claims that automation would replace certain skills. Among the report highlights:

  • Even a moderate increase of £1.24 billion in automation investment could raise the overall value added by the manufacturing sector to the UK economy by £60.5 billion.
  • With this investment, UK manufacturing could grow to £191 billion in 2025, a £38 billion increase on the value of UK manufacturing today.
  • This will safeguard 105,800 jobs across the economy – 73,500 of which would be in manufacturing.
  • Currently 58% of British manufacturers already invest in automation, but 76% believe there are opportunities for further investment.
  • The size and age of a manufacturing company appears to directly correlate to the level of investment made in robotics and automation.

Read more highlights from the report about the potential benefits of investment in robotics and automation.