Robots and the global economy

 

Robots and the Global Economy

Global technology companies are paying special attention to developing robots to bring them closer to the average human...

The expansion of the use of robots in the fields of industry and agriculture, for example, will save significant costs because robots will operate in factories or farms without any problems. They will complete their work to the highest quality standards and in a short time, without requiring rest or paying health or social insurance costs. This can even happen in the event of a fire or a production line breakdown. Robots will be more efficient in dealing with emergencies, quickly notifying maintenance personnel or even extinguishing the fire. However, there is another issue: this will increase unemployment rates in general, given that factories and farms no longer need human workers.

Another viewpoint might argue that there are countries with declining populations, and that replacing humans with robots is an urgent necessity...

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Here we are faced with the need to strike a balance between the use of robots and the human element. We must imagine the presence of robots in every factory and farm in a given country, that production is flawless, and that a significant increase in productivity will lead to the availability of products in the market. However, the unemployment rate will rise, and the consumption rate will decline due to the low number of consumers. The distribution of products will face major challenges, and products will remain on supermarket shelves for a long time. This is due to the low number of consumers and the large surplus in production, which spoils and bacteria will feed on. Alternatively, the production will be stored due to weak demand, given the low human capital capable of paying for it.

 And consequently the recession that will hit this country and the high cost of inventory of goods for any facility may lead to the accumulation of losses, which may accelerate the closure of the factory or farm due to the accumulation of losses year after year. Especially if the factory or farm took out a loan from the bank with interest that must be paid annually..which leads to the death of the factory or farm from a stroke.. The balance is very important between the use of robots and the human element..The use of robots in technological industries such as the aircraft and automobile industry, which is what is happening now, with the presence of the human element in these industries at a certain percentage in order to monitor production, plan for the future of the facility and make decisions to confront any emergency. But some might say, where is the artificial intelligence that was invented to perform the same functions? The small number of consumers and the decline in purchasing power is destroying the global economy because the economy is not only the producer, but also the consumer, his desires and his tendencies. Will we witness a consumer who buys, travels for vacations and deposits his savings in the bank? This is a difficult thing, and large sectors in the world such as the travel and tourism sectors, aviation, retail trade, industry and agriculture will of course be affected by the decline in the number of consumers and purchasing power..

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