Rise of Robots: Boon for Companies, Tax Headache for Lawmakers

Linda A. Thompson for Bloomberg News Agency:  European lawmakers are grappling for answers to a question that until recently seemed like the stuff of science fiction: If robots take our jobs, who will pay taxes?

In an age of unprecedented technological change occurring at a faster rate than the Industrial Revolution, concerns over the growing robotization and automation of work have prompted fears about mass unemployment and plummeting tax revenue in the near future, pitting companies and robotics manufacturers against lawmakers and worker advocates.

The issue is taking on new urgency ahead of a Feb. 16 vote before the EU Parliament’s Legal Affairs Committee on whether to create a robotics agency to deliberate on tax and liability issues.  Cont'd...

Featured Product

Palladyne IQ  - Unlocking new frontiers for robotic performance.

Palladyne IQ - Unlocking new frontiers for robotic performance.

Palladyne IQ is a closed-loop autonomy software that uses artificial intelligence (AI) and machine learning (ML) technologies to provide human-like reasoning capabilities for industrial robots and collaborative robots (cobots). By enabling robots to perceive variations or changes in the real-world environment and adapt to them dynamically, Palladyne IQ helps make robots smarter today and ready to handle jobs that have historically been too complex to automate.