Automation is one of the largest broader trends gaining momentum across many technical industries. For example, the landscape of Ford’s car production line already looks like something out of a movie. But investors will love where A.I. is going next. Robot ads of the future will promote efficiencies and cost savings from a workforce that a) never strikes, and b) never takes a coffee break. Two years ago, Oxford Economics released a report forecasting the rapid adoption of this iron collar class. Specifically, 14 million robots into China over the next 11 years, an increase of 6 times the number of worldwide robots that have entered the workforce in the past 20. Now in 2022, we’re seeing the usage of robots and automation to respond to the pandemic’s implications on employment. As labor shortages grow under the shadow of the “great resignation” and omicron infections keep rising, companies in the U.S. are looking to remote-operated equipment as a solution. One example can be seen with Forklift automation. Companies like ArcBest Corp. and New Jersey-headquartered NFI Industries Inc. are set to deploy thousands of forklifts running on software developed by Phantom Auto (a startup focusing on vehicle teleoperation). Indeed over 42 million dollars have been poured into Phantom Auto alone, and more will likely continue to flow into other companies seeking automated solutions to blue collar jobs.
So where does this leave humans? Well, many jobs may be left to the robots. Things like truck drivers, forklift drivers, and more could be first on the chopping block. At the same time, more jobs in tech and other emerging industries will likely be created. None of this will happen overnight, but rather decades of slow shifting movements and building trends. Some thinkers and innovators like Elon Musk have even pushed back on certain components of automation such as artificial intelligence. Explaining if A.I ever advanced beyond our control that we’d be doomed. What do you think about A.I? And do you think it will be good for automation and the economy as a whole?
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.