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Room common wisdom is that a robot is about to steal your job but a new report shows that robotics and automation actually generate more job creation not less.
Plus you can make money on it.
Joining us now the publisher of the robot report.
Totally the robot frank Tobey thanks for being -- -- Appreciate it.
Now loved this report comes out and says basically robots will generate.
One point five million jobs in the coming decade how can that be when robots are supposed to automate jobs and and lead to fewer.
Two ways one way is the youngest of the -- industry itself.
As it grows grows people.
To make them and to sell them and -- you know and service them.
On the other side.
Companies that deploy robots.
Immediately lose belabor that they're replacing.
But within eighteen months.
-- tend to.
The numbers tend to come back in other occupations.
Marketing downstream occupations.
I see an end result from.
Are these guys these drugs are they so flawless that we don't need enough new job to take -- or they cantankerous contraptions.
And actually that does stir a lot of job creation of -- -- -- put one in there he -- three guys and gals that come in fix it.
Interestingly enough for new technology there's a company called -- found that makes -- -- for hospitals.
And when to -- hits a wall or some place and he gets lost.
It -- it's.
-- 24 hour service that.
They found provides that turns on cameras looks around figures out where it is where it was planning to go and and reroute so.
So you're getting 24 hour service on a robot that -- management of the hospital didn't have to pay attention to right.
-- let's talk stocks because you're 25 your consultant to the Democratic Party.
Then you kind of veered off into this robot thing became fascinated with it.
And you are one of the few people that actually follows an index that you created of the robotics stocks let's take a look at that tell us about.
-- -- I have about a 170.
That I track regularly.
A 120 of -- make up the index.
And but it's -- worldwide index.
Because most of the present day robotic industry is offshore.
It's -- Korean and Japanese and Swiss -- new news style robotics companies like intuitive surgical.
These are all over the world in the US and other places they tend to come from.
Right -- -- -- -- incumbent on us to try and keep the industry here okay you're industry yes certainly lost the old industry.
All right well thank you for being with us today I'm -- a big financial firm -- ETF creator comes the U.
And comes up with a good ETF for the robotics industry that day investors can start to invest in all in one place thank you so much for being with us publisher of the robot report.
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