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A New Era of Automation Has Begun

There is no surprise that automation has advanced significantly over the past decade, and industrial robots are increasingly providing services that weren’t previously automated. Automating and robotics have all proven invaluable in combating the pandemic and reducing its economic impact.

What Are the Effects of Automation on the Workplace?

These advancing technologies allow firms to maintain operations while aiding social distancing at work and the ability to conduct remote work from home. In general, workers have taken advantage of these opportunities as automation and related technologies have reduced the economic impact of the pandemic.

The increase in remote work, including virtual meetings and less travel, has helped expand e-commerce and virtual transactions, as well as a growing dependence on computers.

72% of executives say their companies have adopted remote-working models, and 70% of employees say they are likely to choose a job if they are able to work from home part of the time.

With the rise in e-commerce, warehouses have become more automated, allowing companies to handle the increased volume of digital sales. Manufacturers have ramped up production of items such as foods and beverages, consumer electronics, masks, and other personal protective equipment as demand has increased.

As a response to Covid-19, 39% of manufacturing firms employed digital solutions to increase transparency throughout their supply chains.

As we move forward, certain occupations, such as technicians, STEM professionals, and transportation workers, are expected to grow significantly. It is likely that we will need much less manual labor over the next ten years, since related technologies could automate much of that work and do it faster and more accurately. A much deeper understanding of social, interpersonal, leadership, and technological skills will be needed.

Over the next ten years, these skill areas are expected to grow by about 20%

Overall, despite COVID-19, the trend towards automation and its benefits will likely benefit a variety of people and the future of their work. Thus, creating a large number of jobs and opportunities for economic growth.

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Sources:

https://cepr.org/voxeu/columns/macroeconomic-effects-automation-and-role-covid-19-reinforcing-their-dynamics

https://www.forbes.com/sites/kweilinellingrud/2021/03/17/future-of-work-post-covid-19/?sh=6890082455ef

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