"Companies Order Record Number of Robots Amid Labor ShortageLinks to an external site." WSJ 11/19/2021

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Related article:"Robotic Arms Are Using Machine Learning to Reach Deeper Into DistributionLinks to an external site." WSJ 1/14/2022

Please discuss the following questions.

1. When used as a resource to contribute to the production of goods and services, robots are a type of capital. Can robots be a complement to, as well as a substitute for, labor. Can robots fully replace labor? Briefly explain your answer and give examples.
2. Do you think labor would get more expensive or cheaper as more capital is used in the production process? What type of skills would firms expect from their workers as they use more capital? Briefly explain your answer and give examples.
3. Do you observe similar trends in your job and industry? Which industries do you think would benefit most from artificial intelligence? Please explain your answer and give examples.