Economics of Automation // Final Project Studio

Today

• The Economics of Automation
• Final Project Studio

For Next Time

• Work on the Final Project, due December Thursday 19th at 3PM.
  • Be sure to update this spreadsheet with your team information.
  • Milestone 1 is due Sunday!
• Read over start working on the Broader Impacts Part 3 Assignment, due on December 6th at 7PM.
• Consider whether there is feedback you’d like to share about the class

The Economics of Automation

Today, let’s do a little investigation on the economics of robotic automation, having a critical look at how consulting firms (e.g., McKinsey and Company) analyze and frame markets with respect to automation. With the folks around you, please pick one of the following articles to review (and feel free to look up others!):

• Agriculture: Trends driving automation on the farm
• Manufacturing: Automation and the talent challenge in American manufacturing
• An Industry Overview in Broad Strokes: Unlocking the industrial potential of robotics and automation
• Logistics: Getting warehouse automation right
• Transportation: Autonomous driving’s future: Convenient and connected

With your group, develop a ~5 minute summary and interpretation of your article to share. Attend to the following:

1. What is the labor being automated, and how does the automation work?
2. What motivates the use of automation in this industry?
3. What trends have occurred in the labor force and economics of this industry?
4. What critiques do you have on the reporting?
5. What are your follow-up questions?

After we report out, let’s add to the notes document you started last time. Individually, consider the following: when is automating a market justified?