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 ?
