Are Manufacturers A Dying Breed?
With the recent increase in technology and artificial intelligence people have been pondering if the manufacturing industry will be hurt by these advances. Manufacturers are some of the oldest companies in the US, and make up one of the largest sectors of employment. This in turn helps to keep more jobs in the United States and factory jobs make up 8 percent of the US workforce. Manufacturing also generates lots of money. In 2015 the industry generated $2.2 trillion.
One big plus side to having real workers in a manufacturing company is that they still possess emotions. This is why it will take much longer for AI and robots to replace humans in the manufacturing industry. The bigger worry to manufacturing companies should techno giant Amazon or perhaps even Walmart. These two companies are buying out people left and right. Amazon is more prone to take manufacturers out of business because it is able to use it's own resources to make the goods or services needed. Smaller companies that were once manufacturing giants are starting to crumble under Amazon's climb to the top of the business food chain.
At Miller we hope for more growth in the industry so that we can continue thriving in business. What are your thoughts?