Will robots kill our jobs? A professor answers questions on the MIT report on automation and America's future - The Boston Globe

"Will these developments enable people to attain higher living standards, better working conditions, greater economic security, and improved health and longevity? The answers to these questions are not predetermined. They depend upon the institutions, investments, and policies that we deploy to harness the opportunities and confront the challenges posed by this new era," the report said. The warning signals keep flashing. In the past week alone, the Federal Reserve Bank of San Francisco, issued a report saying that automation has "contributed substantially" to reducing the portion of national income that goes to US workers over the past two decades, Bloomberg News reported. Technological efficiencies will result in an estimated 200,000 job cuts in the US banking industry in the next decade, according to a Wells Fargo & Co. report, Bloomberg also reported.