30.06.2020

Automation potential and labour productivity after COVID-19: Facts&Trends

 Automation potential and labour productivity after COVID-19: Facts&Trends Workers in many countries are mostly worried about if in this time of the covid-19 pandemic automation and technology will cause labour-replacing. Recent research suggests that the deepening recession is likely to bring a surge of labour-replacing automation. But what’s the connection between recessions and automation? On the surface, the implacable infiltration of automation into the economy would seem to be a steady, longer-term trend rather than an immediate fact. Likewise, it might seem intuitive that any rise in unemployment in the coming months will make human labour relatively cheaper, thus slowing companies’ move to technology. As to who may be vulnerable to automation-related dislocation in the recession, the reach of technology may be wider this time round. As mentioned in the article below, the 2019 assessment of US automation trends suggests, that it’s likely that low-income workers, will be some of the most vulnerable. That’s because the epidemic and subsequent automation surge is likely to affect the most “routine” occupations—jobs in areas such as production, food service or transportation. What is the automation potential for various fields and what was the labor productivity growth? Details on the subject are widely described in the following link:

https://eiuperspectives.economist.com/technology-innovation/will-covid-19-pandemic-accelerate-automation

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