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I grew up in the midwestern part of the United States

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around a lot of the blue-collar workers and laborers.

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At the time, Chinese labor was less than a dollar per hour,

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and that was far, far more competitive

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than basically anywhere else on the globe,

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and the pool of labor was immense.

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And it was devastating for communities.

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But that's not the way it will look in ten years.

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In that rush to China,

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what we saw was basically Economics 101.

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The jobs went, more demand went,

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and that drove up prices.

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There are regions that are just as competitive

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as China today for certain types of manufacturing.

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The end of the story isn't

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that one country dominates all global manufacturing.

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The end of the story is actually that we come back

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to a world where manufacturing's more distributed

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and manufacturing and supply chains

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become more regionalized.

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In this world where the economics are evening out,

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the promise of the bionic company is immense.

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The work changes from getting a task done

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to designing the work that needs to be done,

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often by a robot or an algorithm,

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and that creates a totally different structure.

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Instead of a hierarchical organization

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that works from the top down

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and the bottom person executes,

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you actually need small teams that are agile

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to come together to define

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and design how that work should get done in the future

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and then build the systems

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to actually execute against it.

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I interviewed recently a manufacturer

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of stainless-steel trash cans,

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and they had moved production from China

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to Jacksonville, Florida.

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They had actually created an entire production line

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that only had nine people,

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because much more of what they were making

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was roboticized and had been automated,

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versus even what they did in China,

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where the factory line had 60 or 70 people.

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But I actually think that's good.

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That's unleashing more innovation.

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That's freeing up more capacity and labor

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to invest in new things and learn new tools.

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And as we deploy that technology,

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we're going to have to be

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constantly upskilling the workforce.

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Not once in their life do they receive an education,

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but we're going to have to find a way to do that

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over and over and over again.

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The leaders will be much more proactive in doing that.

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They will find competitive advantage in their workforce

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that will drive them to invest in that workforce

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in a much more holistic way.

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They won't be as reliant on community colleges

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and technical schools and universities to train people.

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They'll say, "We need to take the future in our hands

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and actually equip our people to be resilient

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no matter what the technology is we deploy."