Rise of the Machines
Rise of the Machines
I read a story this week about how 51% of today’s job activities could be replaced by “automated technology.” This means some sort of robot or machine. Okay, I’ll say it now since we’re all thinking it: isn’t this the beginning of the end as noted in movies like the Terminator? Maybe, but probably not like in the movies. This technology would be more apt to conduct work that is easily repetitive or is part of a process – think along the lines of jobs in the retail, food service or manufacturing space. Eliminating these jobs would equate to nearly $3 trillion in wages. The study, by McKinsey, does not this would have an impact on employment with many of those displaced by Mr. Robot having to learn new skills for a new job. Will this really happen? I’m not sure. Even if it does, it will likely be phased in over years and I’m certain employee unions will have a say. One thing is for sure, technology marches on, bringing change and new economic dynamics which are certain to impact the job market…like it always has. Of course, it also may bring on the Terminator.
History occurred this week as the DOW Jones Index climbed over 20,000 for the first time. For most of us, it might mean a bump in our retirement funds or investments. But for many, it doesn’t really mean all that much. I am a firm believer of the large disconnect between Wall Street and Main Street. Our local economy here may see a trickle down from this economic milestone, but it may be difficult to clarify. We will see what this means to the national economy moving forward, let’s hope it’s sustainable.
Believe it or not, January is about to come to a close – we’ve made it through 1/12 of the year! February brings a couple of great Chamber events. We have the Sheriff’s Crime Update luncheon on the 16th and a Let’s Do Breakfast at Rosewood’s Family Restaurant on the 22nd. Click on the links below for more information.
Quote of the Week:
Wherever there is a human being, there is an opportunity for a kindness. – Lucius Annaeus Seneca