According to the Bank of England's chief economist, Andy Haldane some 15 million UK jobs are at risk of being taken over by robots in the coming decades, which is around half of the UK's working age population. And while Mr. Haldan stressed that these figures were "broad brush" and "may be far too pessimistic," they shouldn't be overlooked by investors.
Indeed, Bank of America has called the rise of the robots the "next industrial revolution." According to the bank's figures, 2014 was the third consecutive year for record sales of robots worldwide (229,000 up 29% year-on-year) and by 2025, robots are likely to be performing 45% of manufacturing tasks globally compared to around 10% today.
BoA estimates that by 2020 the...
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