Dive Brief:
McKinsey reports that automation has transformed manufacturing operations, employment and economics in the past 20 years and could bring more industrial changes with rapid advancements in robotics , artificial intelligence (AI) and machine learning . As of 2015, 478 billion of 749 billion working hours dedicated to manufacturing worldwide were automatable, according to McKinsey, the equivalent of $2.7 trillion out of $5.1 trillion in labor "that could be eliminated or repurposed" if the available technology was adapted and adopted.
Companies that have not automated their operations need to think about three things, McKinsey says: 1) the possibilities […]
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