Work today: Scale and efficiency leap forward
We are well past the days when desktop computers were the latest workplace technology. Today, countless innovations make smarter, faster, and more scalable work possible. The pandemic also accelerated the demand growth in applications for flexibility and connectivity.
Some have raised concerns that tech could put people out of work. Historical evidence suggests otherwise: Increasing automation has consistently led to new hiring in labor-intensive industries like steel, textiles, or automotive manufacturing, compared to when they were artisan industries. In our view, innovation simply eliminates mundane tasks and enhances human capabilities, driving higher-quality results and greater worker satisfaction.
Consider mortgage lenders: AI and machine learning are enabling automated lending decisions that previously required lengthy in-person meetings. Likewise, pharmacies are expected to experience increased efficiency and reduced risk by automating the dispensing of medicines.