The concept of Human Capital applies to industries with a high degree of automation in several ways. Firstly, even in highly automated industries, human capital is essential for the design, maintenance, and improvement of automated systems. Secondly, human capital in the form of skills and knowledge in managing and integrating automation into business processes is crucial. Lastly, as automation takes over routine tasks, the value of human capital may shift towards more complex problem-solving and creative skills.
Economics can be intimidating to the person who is not well-versed in business and mathematics. This...
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