The Impact of Aging Workforces on Automation

The aging of global workforces presents both challenges and opportunities, particularly concerning the need for automation. Many OECD countries are experiencing a decline in their working-age population, which is likely to affect labor force dynamics significantly in the coming years. While automation is expected to grow rapidly, areas previously thought to be immune, such as construction, are now seeing advancements like semi-autonomous robots to assist workers. The interplay of demographics and automation is crucial as businesses must consider how to adapt to a shrinking labor pool while leveraging technological advancements.