AITX CEO Steve Reinharz Publishes Article Making the Case Detroit, Michigan, June 07, 2022 (GLOBE NEWSWIRE) -- Artificial Intelligence Technology Solutions, Inc., (OTCPK:AITX), today announced that its CEO, Steve Reinharz has published an online article that discusses the need for automation and robotics as an alternative to the increases in interest rates by the Federal Reserve.
“We Need Robots, Not Rate Hikes!” is online now. The article reviews the negative impact that the majority of the Fed’s rate hikes have had on economic conditions, primarily employment numbers over the past 60 years. Reinharz argues the position that economic and employment conditions in mid-2022 are far different than in previous decades, and the economy needs kick-start from innovative and forward-leaning tactics like widely deploying robots and other AI-fueled automation.
“Rather than force businesses to lay off workers by reducing demand for their products and services through rate hikes, let’s use technology to fill open jobs, increase supply, reduce operating costs, and keep prices in check,” said Steve Reinharz, CEO of AITX and author of the article. “Suppose we could increase productivity and the availability of goods and services rather than reduce the demand for them. Wouldn't that be a preferable way to rebalance the labor market and ultimately combat inflation?”
The article is online at https://tinyurl.com/5ccdajuy
https://www.globenewswire.com/news-release/2022/06/07/2457742/0/en/AITX-CEO-Steve-Reinharz-Publishes-Article-Making-the-Case-for-Automation-over-Interest-Rate-Hikes.html