Covid-19 will only increase automation anxiety

Covid-19 will only increase automation anxiety (FT)

• The author argues that COVID-19 will see a return of “automation anxiety” as it is likely to accelerate automation as companies strive to cut costs during downturns and consumers ‘trade-down’ to cheaper and less labour-intensive goods and services.
• Additionally, companies are likely to want to ‘pandemic-proof’ their operations once COVID-19 passes and consumer behaviour/preferences may see long-lasting change.
• The jobs which are most likely to be automated are lower-pay, as high-income jobs are not only harder to automate but also more pandemic-proof given many of them can be performed remotely.

Analysis and Comments

• This FT article is actually part of a new series (started at the beginning of the month) which presents the views of leading commentators and policymakers on what to expect from a post-COVID-19 future. Worth a look!
• The author also makes an interesting point around economies ‘pandemic-proofing’ by reducing their dependencies on offshore manufacturing hubs and shortening their supply chains (which will also accelerate automation)

Are we on the edge to move back to producing more locally ?

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