America let China and other countries make great gains by being places where things are made cheap. Cars, toys, computer chips and medicine are just a few examples of things we farm out to other countries. But so much of that is changing due to COVID-19.
There is going to be a huge push to bring medicine home because that is one of the most glaring oversights for keeping America safe. Headlines like - Experts say COVID-19 will likely lead to US drug shortages - spooked everyone from investors to people in need of a routine trip to the pharmacy.
Peter Navarro, in a “Squawk Box” interview, recently said:
“What I can speak to is this broader, interesting issue of how dependent the United States of America is on the global supply chain, not just for its medicines but for its medical supplies and medical equipment,”
“The essence of the order … is to bring all of that home so that we don’t have to worry about foreign dependency,” he said, adding that 70% of the ingredients used in advanced pharmaceuticals “comes from abroad.”
Clearly medicine has become extremely high tech and yet no amount of tech can replace the need for people to run the things that we make. The medical field is using Artificial Intelligence, but it doesn’t run itself. At least not yet. AI can be used to interpret large amounts of healthcare data but that makes the doctors job more effective and faster. It does not replace it.
“In the retail industry, robotics and automation are enabling faster production, distribution and fulfillment. But news of these advancements often leads to fears of job loss. In reality, while many tasks can be automated, entire jobs are a long way from disappearing — if they ever do. McKinsey recently estimated that “only about 5% of all [retail industry] jobs can be fully automated with current technology.” Instead, the shift to automation is providing workers with new and better roles, such as analyzing supply chain data and managing inventory. Roles will change, but jobs are likely to increase as new technologies come online.”
Technology is also transforming education. Schools that were on the fence of how far they wanted top take eLearning have jumped in headfirst given the pandemic and the urgent need for a shift in what a modern classroom looks like.
According to tech provider Promethean’s 2018/19 State of Technology in Education Report (via Education Technology),
“94% of educators believe that technology improves engagement, and 60% of school leaders say tech is an important part of their strategy.”
So it’s time to make things like webinars, podcasts and online video, a regular part of your learning diet. A diet that just might make you fit enough for your next job or for starting your next company.
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