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Q.4
Smart factories will impact skill demand globally
- Smart factories are that factory setup where the machine works more than human, but only need, manpower to organize it
- Through the launch of such factories there will be less need for manpower in the factory areas but only be needing few experts to continue the business.
- Nowadays the machines are integrated with Artificial intelligence which can work on their own, sooner it will replace the need for complete manpower in a factory area.
- from the company s perspective, it is more profitable for them because it is much cheaper in hiring such machines than people, where the management needs to pay salary as well as additional expenses as per the law of the state such PF, ESi etc.
- More over such machines make lesser mistakes in the work. Or in other words, the accuracy of the work of the machines are quite annd much higher than the human beings.
- This will cause less amount of oney in the hands of laborers leading to poverty and other economic issues.
- Day by day more and more factories will start to make their factories smart to compete with their competitors in th emarket to gain a position in the market.
