Executive Summary

We have stagnated in our measures to maintain a strong economic growth and may soon have a crisis of decline in global economy. The study investigated whether if automation is a viable choice to avert such a crisis. The study consisted of an analysis on three factors pertaining the implementation of automation and was based on information from secondary data such as journal articles, industry research reports, and government reports. The conclusion gathered from the analysis is that automation can indeed be a viable choice in averting the crisis of decline in global economy. A number of recommendations are made regarding what actions are to be taken by businesses and communities including to use new automation work systems, to invest in autonomous electric vehicles to take advantage of the cost efficient energy source and to prioritize on automation instead of staffs.

Table of Contents

Executive Summary

Table of Content

1. Introduction

2. Discussions

2.1 The negative effects that will derive from the crisis of decline in global economy with the absence of automation

2.1.1 Setbacks from errors made by humans

2.1.2 Inefficient manual legacy systems

2.1.3 Shortage of staff

2.2 Changes related to automation that can be implemented to work industries and communities.

2.2.1 Autonomous modes of transportation

2.2.2 Autonomous administrative systems

2.2.3 Automated workflow systems

2.3 Implications to the economy and the environment if automation is adopted

2.3.1 Employment

2.3.2 Cost

2.3.3 Labour and productivity

3 Conclusion and Recommendations

References

1.      Introduction

We have now reached the peak with our current measures to maintain a strong economic growth. However, these measures have remained stagnant for too long and will not stand the test of time. If no further action or new systems are implemented, we may meet a crisis of decline in global economy. Thus, automation is being tested as a viable option in improving the global economy.

The purpose of this report is to provide preliminary information regarding i) the negative effects that will derive from the crisis of decline in global economy with the absence of automation; ii) changes related to automation that can be implemented to work industries and to the community; iii) and implications to the economy and the environment if automation is adopted.

Note that the study of automation is fairly new and is still being constantly developed which affected the availability of certain information.

In the investigation these issues, three factors were put into consideration, namely Cost, Employment and Productivity. The cost relates to how much would a business invest; Employment is regarding the availability of jobs in certain fields; and Productivity relates to the efficiency in a work field.

Information for the study came from a range of secondary sources related to these factors including: journal articles, industry research reports, and government reports.

The report is divided into 2 main sections: a Discussions section, which presents information about the effects related to automation, and a Recommendations section which provides suggestions related to automation to improve the global economy.

2.      Discussions

The viability of averting the crisis of decline in global economy by implementing automation are considered in three categories, the negative effects that will derive with the absence of automation, changes related to automation and implications of implementing automation.

2.1  The negative effects that will derive from the crisis of decline in global economy with the absence of automation

According to Maulik (2018, par 1-2), for businesses to be able to grow and compete in the market, they need to optimize their efficiency and plan strategically but it is not attainable with the negative effects that stagnate the companies without automation. Each of the category is discussed below.

2.1.1        Setbacks from errors made by humans

According to Maulik (2018, par 13-14), in majority of the companies, transferring of data are still done in hardcopies from a department to another. As the contents of data are comprehensive, it will prove difficult to streamline and arrange them in order. Besides, as it is done manually, it will leave room errors made by humans.

“Manual input and human-driven data are identified as a major setback for businesses during its period of growth.” (Maulik, 2018, 5). This negative effect directly affects the productivity and workflow of a business as Maulik (2018, par 12) adds that the greater the error, the greater the cost and setback it will inflict on a business which will then make the time in making the effort all for naught.