My first personal computer $5,200....2nd - $1500....3rd - $1200....today you can get a pc for $300, even $150.
$50,000 for a robot now and $4000 in a few years.
A robot will replace how many humans for a corporation 3...5...10? ... and work 24 hrs a day...that is 9...15 ...or 30 workers salaries, pensions etc gone. Profits will soar and robots will be everywhere.
Maybe profits as a percentage of overall revenue generation will soar at least for a time (competition will eventually lower the margins to near a baseline of zero especially as these devices get cheaper, or human nature rears its ugly head and limits the application of such devices [such as theft, violence against the machine, etc.]). But when people in general have far fewer jobs available, the welfare state eventually runs out of steam to create an endless stream of revenue to cover costs which it cannot even due now, what kind of purchasing power will anyone except a small percentage of the population have to buy? That will ultimately lower their profits over time even though they may see a soaring profit margin. Its a catch 22, where the law of economics and human nature will catch up with this movement just as it has caught up with all the outsourcing that occurred for 50 years in this country. It has run its course, and now to some small extent some of that High tech manufacturing is returning here, all be it being highly automated. It is being automated in China now, just look at FoxCon announcement since labor is now impacting the bottom line once again. This is just the latest fashion craze of the business world to remain solvent. Many of these business will not be able to generate the revenues to pay the bill necessary to remain in business as this moves forward. It will start with the little guy first (as it has been happening for a while), and progrees up the ladder.
Normally people would adapt to such a changing environment and become more innovative, independent, more reliable, grounded in facts, etc. But not with this culture around the world. More government, more feelings than thought, off loading responsibility to government which is appealing and of course enticed by the hollow promises of politicians who really just want to control them. A number of problems all coming together nearly at the same time, all of which has been made possible by people who have thrown away moral standards, God, patience, and just about anything good that helped make civilization a better place to live and strive for. We are in uncharted waters, and things are going to get worse unless the culture itself changes for the better which I will not hold my breath for a long while.