European Parliament approves resolution on robotics, job losses spark concerns

Maria Nikolova

An area of contention seems to be the role of machines at the workplace and the potential loss of jobs for human workers.

The website of the European Parliament is often filled with eye-tearing press releases such as “Give rabbits more space”. Not today. Today, the MEPs looked to the future and the potential consequences from the increased adoption of robotics and related artificial intelligence (AI) solutions in various areas of life.

Data from the International Federation of Robotics show that robot sales increased by an average of 17% per year between 2010 and 2014, and by 29% globally in 2014 alone.

Having this in mind, MEPs today voted a resolution that urges the European Commission to draft rules for the field of robotics to be applied across the European Union.

The resolution was passed by 396 votes to 123, with 85 abstentions.

A point of disagreement was the part concerning the effects of AI on the labour market. Rapporteur Mady Delvaux (S&D, LU) commented: “Although I am pleased that the plenary adopted my report on robotics, I am also disappointed that the right-wing coalition of ALDE, EPP and ECR refused to take account of possible negative consequences on the job market. They rejected an open-minded and forward-looking debate and thus disregarded the concerns of our citizens.”

This topic has been discussed at FinanceFeeds numerous times – AI solutions are advancing in the financial services industry, threatening to replace human staff in various roles. Recent examples come from Japan’s Fukoku Mutual Life Insurance and Russia’s Sberbank. And yet, some consider that robots would elevate human work rather than make it useless.

MEPs call for the European Commission to monitor these trends closely.

MEPs say draft legislation is urgently needed to clarify certain liability issues, for self-driving cars in particular. They urge the establishment of a mandatory insurance scheme and a supplementary fund to ensure that victims of accidents involving driverless cars get just compensations. The Commission is also requested to consider determining a specific legal status for robots in the long run, so that it would be possible to establish who is liable if they cause damage.

The resolution also highlights certain ethical issues related to the growing use of robotics – for instance, issues related to privacy and safety. MEPs propose a voluntary ethical code of conduct on robotics for researchers and designers so that “robot design and use respect human dignity”.

Establishing a European agency for robotics and artificial intelligence is also proposed. It is set to supply public authorities with technical, ethical and regulatory expertise.

MEPs note that regulatory standards for robots are already being planned in a number of countries. The Commission is not obliged to follow the Parliament’s recommendations, but should provide its reasons if it refuses.

Read this next

blockdag

BlockDAG Lights Up Piccadilly Circus in Celebration of CoinMarketCap Listing: More On Polkadot (DOT) Price & LINK

Explore BlockDAG’s showcase at  Piccadilly Circus and its potential for 30,000x ROI. Dive into Chainlink’s Potential for growth and Polkadot’s price dynamics.

Digital Assets

Colombian president under fire for Daily COP’s crypto donations

Colombian President Gustavo Petro is embroiled in controversy following allegations that he accepted over $500,000 in cryptocurrency from a fraudulent crypto project to fund his 2022 presidential campaign.

Financewire

Enter the Wasteland: Survive, Conquer and Thrive in a Post-Apocalyptic Playground with DECIMATED

As the digital dawn of gaming rises, the visionary minds behind DECIMATED are ecstatic to unveil their groundbreaking foray into the desolate yet captivating future of online gaming.

Retail FX

Trading 212 offers multi-currency cards to its clients

London-based online broker Trading 212 has teamed up with Paynetics, a regulated e-money services provider, to offer real-time payment and banking services to customers.

Digital Assets

Kraken says SEC lawsuit overhauls US financial regulation

Cryptocurrency exchange Kraken is pushing for a U.S. court to dismiss a lawsuit filed by the Securities and Exchange Commission (SEC), arguing that the suit could lead to an undue expansion of the regulatory body’s authority over the crypto industry.

blockdag

Influencers Spotlight BlockDAG’s Mining Technology and $24.6M Presale as it Outshines Shiba Inu and Polkadot

Discover how BDAG’s groundbreaking X1 mining app and strong YouTube influencer support outperform Shiba Inu’s adoption and Polkadot’s market strategies.

Digital Assets

Binance and KuCoin get regulatory approval in India

Binance and KuCoin have become the first offshore crypto exchanges to receive approval from India’s anti-money laundering unit, months after being banned for “operating illegally” in the country.

Market News

Analysing the Market Ripple Effect: How the BoE Rate Decision Shapes Trends

In the aftermath of recent market movements, the resilience of the USD and US yields contrasts with the steady performance of equities, signalling a cautious sentiment among investors.

Digital Assets

BlockFi taps Coinbase for crypto withdrawals amid platform shutdown

Bankrupt cryptocurrency lender BlockFi has teamed up with Coinbase to enable cryptocurrency withdrawals for eligible clients as it gets ready to shut down its web platform.

<