TECH - These Automation Stocks ETFs Are Poised To Benefit From Biden's Boost To Manufacturing | Benzinga
According to Deloitte, the manufacturing sector faces a widespread shortage of skilled labor.
Last year, three-quarters of manufacturing executives surveyed by the National Association of Manufacturers showed that "attracting and retaining a quality workforce" is “a primary business challenge."
Some 83% of manufacturers quoted in the report said they believed smart factory solutions "will transform the way products are made in five years."
The Biden administration’s ongoing effort to bolster U.S.-based manufacturing and impose tariffs puts the automation industry in a strategic position to cut costs to remain competitive.
And automation combines emerging technologies in two distinct sectors: artificial intelligence (AI) and robotics. Some of the most prominent plays in this regard include: