The benefits of automation for companies. Economics of Automation. (Essay Sample)

Economics of automation
Student name
Institution
The main argument of the articles alludes to the takeover of machines in workplaces. Human redundancy is one major problem to be solved by automation since the work done by machines can still be efficient. In the workplace, there can be machines for making coffee which replaces the tea girl’s job. This simple dynamic shifts helps to keep the company operational while eliminating extra human costs on spending on salaries of these people. The rapid growth of technology enables some workers to be eliminated since companies no longer depend on the execution of their services. In recent times, the automation phenomenon has led to massive retrenchment of workers.
The biggest losers of the automation battle are the workers. In the work economy today, an extra skill is required for anyone to achieve success. Possessing a single skill can declare one redundant in a span of 6 month hence the need to constantly upgrade the skills one possesses. The companies gain in terms of saving on operational costs which would rather be spent on workers. However, with automation, the companies spend less time on the production line and maximize profits with the reduced number of workers available.