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This survey outlines the discussion on the controversial effects of robots and artificial intelligence as the core drivers responsible for major future disruptions in economies, which is particularly relevant to the future of employment. We essentially focus on labour markets and income generation. We consider the multifaceted implications of these emerging technologies, classifying the negative outcomes under the framework of classical innovation, while enhancing the positive results through the lens of a Neo-Schumpeterian approach. Concerning the influence of robotics on education and society, we analyse the education system and social issues and propose possible policies. This survey provides an overview concerning the current debate, highlighting the arguments of replacement vs. compensation, which we label as the Janus face of robotics and artificial intelligence.

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Mirheta Omerovic recently graduated with honors the Double Master Studies in International Management at the Ca´Foscari University in Italy and International Business and Economics at the Hohenheim University in Germany. She works for the Council of Europe as a freelance project consultant. She loves skiing and swimming.

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