Automation

Ever since the first Model-T rolled off the assembly line the economy has continued to find ways to train workers while at the same time, drive automation. Well, Amazon is in the thick of it now. The company announced that it will spend $700 million to retrain its workforce of 100,000 in response to a growing labor shortage. But the bigger news is that the strong labor market is pushing companies to make big investments in not only workers, but also technology. The acceleration of technology investment will soon be remaking jobs across almost every industry. By an estimate I came across recently, automation will force one-third of American workers to switch occupation by 2030. The question is, will industry be prepared to retrain this segment of the workforce?