“We are at a unique intersection in our economy. According to a recent McKinsey survey, 67% of companies have accelerated their use of automation and artificial intelligence this year. Before the outset of the pandemic, labor costs such as wages and healthcare were increasing. Today, the cost of capital is near record lows–you can get a government subsidized EIDL loan at 3.75% interest. Companies are using low-cost debt to automate their operations and replace labor with machines.”
https://www.inc.com/marc-emmer/10-ways-to-leverage-digital-transformation-in-2021.html
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