COVID-19 Disrupts Labor Market The COVID-19 pandemic of 2020 led to the most significant disruption of the US labor force in decades. If you combine 2021 and 2022’s job numbers, roughly 100 million people quit their jobs! Because much of the labor force who quit simply changed jobs, COVID-19’s lasting impact seems to be that it drove people to look for greater life-work balance and higher wages in what is known as “The Great Reshuffle” . The Game-Changing Duo When searching for new career paths workers are looking for two main attributes in a position – higher pay and remote work. Higher wage demands and a lack of will for in-person work are leading to major issues for companies that need “unskilled”, low-cost workers. The result? Many companies are using technology to replace and automate workers, leading to lower-cost “workers” and more profits. Below are 3 such ways these technologies will go mainstream in the coming years: Robotaxis ( Do you know that a live fleet of robotaxis exists in San Fransisco run by General Motors ( GM Quick Quote GM - Free Report) )? That’s right, cars with no human driver are picking people up in San Fransisco as we speak and will soon be nationwide.What will it mean for the rideshare industry? Lower costs, faster service, and more safety. Winners ( Tesla ( TSLA Quick Quote TSLA - Free Report) ( ) & Mobileye ( MBLY Quick Quote MBLY - Free Report) ) 80-90% of all accidents on the roads are caused by human error (negligence, texting while driving, tailgating). Tesla and Mobileye have the best autonomous vehicle technology and should be the biggest winners should robotaxis go mainstream. MBLY is currently exhibiting stellar relative strength and is attempting to break out of an IPO base structure. Image Source: TradingView Internet of Things ( IOT Quick Quote IOT - Free Report) Winners ( Amazon ( AMZN Quick Quote AMZN - Free Report) ( ) & Samsara ( IOT Quick Quote IOT - Free Report) ) The Internet of Things (IoT) refers to a network of interconnected physical objects, devices, or “things” embedded with sensors, software, and connectivity capabilities, allowing them to collect and exchange data with other devices and systems over the internet. Positives: Better tracking, efficiency, and less need for human capital. Example Amazon Go is a “new kind of corner store” with similar products to a 7-11 convenience store. However, the critical difference is that no checkout is necessary – when you’re finished you simply walk through an exit gate and you’ll be charged for what you take through the Amazon app. Samsara, a leader in IoT technology, is attempting to break out of a classic “U-turn” base on its monthly chart. Image Source: TradingView Bots For those paying attention to the current labor force, it is becoming clear that people are moving away from “unskilled”, repetitive, low-paying jobs. Winners ( Alphabet ( GOOGL Quick Quote GOOGL - Free Report) ( ), Tesla, Nvidia ( NVDA Quick Quote NVDA - Free Report) ( ), Advanced Micro Devices ( AMD Quick Quote AMD - Free Report) ) Humanoid robots, such as those being created by Google parent Alphabet and Tesla, will pick up the slack. These bots will likely be powered by AI and require advanced chips such as those made by NVDA and AMD. Image Source: Zacks Investment Research Bottom Line Due to “The Great Reshuffle,” the workforce has changed dramatically in just a few years. However, where there is change, there’s opportunity.