Question

What are the Impact of automation solutions, on the 4 factors-{global, societal, economic and environmental}?

Answer 1

Economic-There Is a growing consensus among academicians, business leaders, and government officials that the American competitive problem rests centrally on the slowing rate of Investment to Integrate new automation technology Into manufacturing operations. Although the source of major Innovations In automation technology Is from United States universities and research centers, American firms have been too slow In adopting these technologies. One of the major factors underlying this problem is the lack of an economic analysis technique specifically aimed at estimating the benefits of automation technology. This paper offers an economic analysis technique based on the premise of the Increased probability of capturing the market segments through economies of scope. The paper first demonstrates the Inadequacy of current economic analysis techniques to assess the benefits of automation technology, then proposes a new methodology which can be Integrated to an expert system to assess the economic Impact of various types of automation technology.

Environmental - As we head into a more automated future, we need to consider the implications a poor environment have on the health and happiness of humans and other life on earth. Increase in automation increase in productivity of factories and industries leading to more toxins and waste gases in the air, we are already seeing the impacts of pollution on our health and Global warming is growing abruptly. Climate change caused by greenhouse gas emissions to smog, heart death of many active plants, we can easily see the effect of this stage in daily life

Society - Automation increases net welfare even if “good” jobs are automated. Some argue that automation should only be for the 3Ds: dumb, dirty, and dangerous jobs. Clearly, automating undesirable jobs is a double win, because there are fewer bad jobs and overall GDP increases. But automating “good” jobs also is a good thing, because it leads to increases in GDP; the original output still exists, but workers are redeployed to produce new and additional output, so society reaps the benefits of more plentiful goods and services.

Global- ‘Automation’ is the growing phenomenon of human labor being replaced by machinery and robotics. Automation can be positive for businesses by increasing labor productivity, reducing wage costs, increasing profit margins and also filling labor shortages, as has happened in China. On the other hand, it could also be increasing structural unemployment, which may erode consumer confidence and disposable income levels, and ultimately reduce demand for consumer goods.