Worker Shortages Drive Productivity Boom Through Automation and AI

Companies like Batesville Tool & Die are investing in robots and automation to make up for worker shortages, driving an unexpected productivity boom.

Higher productivity allows for stronger economic growth and higher wages without spurring high inflation. It's like "magic beanstalk beans."

Companies are turning to technology and finding efficiencies out of necessity - they can't hire enough staff to meet demand.

There are early signs that AI tools can sustain productivity gains by helping less experienced workers be more efficient.

Some displaced workers are shifting to better-paying, more productive jobs instead of being totally replaced by technology.