Via Business Insider:
Credit Suisse's analysts argue the that industrial automation — when humans workers are replaced by robots — is a bullish long-term economic theme as it boosts productivity.
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Credit Suisse argues that the underpenetration in the emerging markets presents a big opportunity for the world to boost productivity.
Points:
- Example from the linked article: US has more robots, and China has more cheap labor. US is 7.5 times more productive.
- This is seen to offset the cheap labor advantage of developing countries.
Ponder:
- What should humans do to prepare?
- If even deep individual expertise becomes replaceable, is the human employment future in the ability to coordinate and integrate group efforts like projects?
