Industrial automation has dramatically increased manufacturing productivity while reducing labor requirements, as demonstrated by a US steel plant that increased steel production from 5 million tons to 8 million tons while reducing its workforce from 30,000 to 2,000 workers between 1950 and today.
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A factory had 30,000 workers in 1950. Today it produces more steel with only 2,000Added:
Here's one stat [music] that I thought was always interesting to me. In 1950, there was a US steel plant in Gary, Indiana.
It produced 5 [music] million tons of steel and had 30,000 workers. Today, it's still operating. It produces 8 [music] million tons of steel and has 2,000 workers.
So, it's producing [music] more steel today than it was in 1950s. They went from 30,000 workers to 2,000.
Because what used to be done [music] with biceps and backs and shoulders is now done with machines and [music] robots.
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