It seems obvious that if a business invests in automation, its workforce – though possibly reduced – will be more productive. So why do the statistics tell a different story?
In advanced economies, where plenty of sectors have both the money and the will to invest in automation, growth in productivity (measured by value added per employee or hours worked) has been low for at least 15 years. And, in the years since the 2008 global financial crisis, these countries’ overall economic growth has been meager, too – just 4% or less on average. Read more »