Economists Finn Kydland and Sir Chris Pissarides spoke about the future impact robots might have on the job market at the Starmus Festival at the Norwegian University of Science and Technology (NTNU) in Trondheim, Monday.
Pissarides had the positive prediction that robots' contribution to the economy would allow for more leisure time and higher levels of income as well as more jobs among humans "in other new sectors of the economy".
When asked whether fears that jobs would be taken away by the introduction of robots both disagreed "There is a lot of diversity in the human mind" said Pissarides. "The biggest difference between robots and humans is that robots can do only one thing."
"If each person were doing just one thing then it’s credible to say we’re going to lose 40 percent of jobs but this is not what human nature is" he concluded.
The fourth Starmus Festival, which celebrates astronomy, space exploration, chemistry, physics, art and medicine, will run from June 18 until June 23.