How Automation Is Helping Companies Prepare for Labor Shortages

Automation and AI are increasingly important for companies facing labor shortages. While AI can automate routine tasks, it also creates new opportunities for workers to focus on higher-value activities and reskilling is crucial to adapt to the evolving job market. Companies must find ways to engage workers differently to maintain productivity and economic growth, leveraging technology and data for greater efficiency and customer value.

Labor Shortages and Automation

• 00:01:30 The US economy is facing labor shortages, particularly compared to countries like India and China, due to the population size. Maintaining GDP growth and economic competitiveness requires increased productivity and innovation, which can be achieved by automating routine tasks. This leads to a need for reskilling and job training to adapt to a changing workforce.

AI & Job Growth

• 00:02:00 AI and automation can create new job opportunities in companies like FedEx by increasing efficiency and value. As businesses thrive due to technology, they need more workers, leading to job growth. Companies must make jobs more engaging and interesting to attract and retain employees, relying on data and technology to improve efficiency and customer experience.