Robots as minimum wage workers

Wired writes that thanks to rentals, companies are now better able to afford using robots in their factories. “‘Cost declines are great for the diffusion of a technology,’ says Andrew McAfee, a principle research scientist at MIT who studies the economic implications of automation. McAfee says robots themselves have become cheaper and more user friendly in recent years thanks to the falling cost of sensors and other components, a trend that he expects will continue.” A study showed that because of leasing opportunities, the number of industrial robots present in firms should jump from 4,442 units in 2016 to 1.3 million in 2026.