.

>>> FUNDING PROVIDED BY -- REPRESENTING ALL INDUSTRIES WORKING TOGETHER TO HELP BUILD A MORE PROSPEROUS NEW JERSEY THROUGH ADVOCACY, SUPPORT AND BENEFITS.

NJ SCHOOL OF BUSINESS, A GAME CHANGING FORCE OFFERING PROGRAMS LIKE FINANCIAL TECHNOLOGY OR BUSINESS ANALYTICS.

WE MINUTES FROM WALL STREET.

LEARN MORE AT NJCU.

AND LOCAL 102, PROUDLY SERVING NEW JERSEY'S BUSINESS COMMUNITY SINCE 190.

LOCAL 102, LIGHT HADDING THE PATH, LEADING THE WAY.

>>> THIS WEEK ON "NJ BUSINESS BEAT", AN EXCLUSIVE LOOK INTO NEW JERSEY'S ECONOMIC FUTURE.

I SIT DOWN WITH THE CEO OF THE NEW YORK FEDERAL RESERVE BANK AFTER HE MET WITH NEW JERSEY BUSINESS LEADERS.

PLUS A NEW RUTGERS REPORT ANALYZING HOW MARIJUANA IS USED IN NEW JERSEY COMMUNITIES AND HOW TO PREVENT NEW SOCIAL INEQUITIES.

>>> AND THE ROBOTICS INDUSTRY IN FOCUS FROM GROUND BREAKING HEALTH CARE TECHNOLOGY TO HOW THE YOUNGEST NEW JERSEYANS ARE INNOVATING THROUGH ROBOTICS AND AI.

THAT'S STRAIGHT AHEAD ON "NJ BUSINESS BEAT."

>>> THIS IS "NJ BUSINESS BEAT."

>> HELLO, THANKS FOR JOINING US ON "NJ BUSINESS BEAT WTS.

IF YOU'RE WATCHING ON YOUTUBE, SUBSCRIBE TO OUR SPOTLIGHT NEWS YOUTUBE CHANNEL TO GET ALERTED WHEN WE POST NEW EPISODES AND CLIPS.

THE U.S. ECONOMY IS BOOMING, AT LEAST IF YOU LOOK AT THE LATEST GDP REPORT OUT THIS WEEK.

GDP GREW THE AT A RATE OF 7%, THE STRONGEST SHOWING SINCE 1984.

AND COMPANIES KEEP HIRING, BUT NOT EVERYONE IS BENEFITTING FROM THE ECONOMY'S GROWTH AS WE HAVE REPORTED INFLATION IS A BIG CONCERN.

RECENTLY, THE PRESIDENT OF THE NEW YORK FEDERAL RESERVE BANK CONDUCT ED A VIRTUAL TOUR OF NORTHERN NEW JERSEY TO ASSESS HOW OUR ECONOMY IS RECOVERING FROM THE PANDEMIC.

IN AN EXCLUSIVE INTERVIEW WITH NJ BUSINESS BEAT, I TALKED WITH WILLIAMS ABOUT OUR ECONOMY, DISPARITIES IN THE JOB MARKET AND WHETHER THE FED WILL BE ABLE TO CONTROL INFLATION WELCOME TO NJ BUSINESS BEAT.

IT'S A PLEASURE TO HAVE YOU HERE.

>> IT'S GREAT TO BE HERE WITH YOU TODAY.

>> YOU HAVE BEEN QUITE BUSY ON YOUR VIRTUAL TRIP IN NEW JERSEY.

TELL ME WHAT YOU SAW AND LEARNED OVER THE LAST COUPLE DAYS.

>> SURE, SO WE MET WITH BUSINESS, COMMUNITY AND LOCAL OFFICIALS TALKING ABOUT HOW THE NORTHERN NEW JERSEY ECONOMY IS DOING.

WE HAD A VIRTUAL VISIT TO THE PORTS AND LEARNED MORE ABOUT SUPPLY CHAIN ISSUES AND BOTTLENECKS THERE.

AND ALSO WE REVISITED SOME PEOPLE THAT WE TALKED TO BEFORE THE PANDEMIC, ESPECIALLY IN NEWARK AND TRIED TO UNDERSTAND SOME OF THE ISSUES IN NEWARK AROUND HOUSING, HOW THOSE HAVE CHANGED DURING THE PANDEMIC AND HOW WE SEE THINGS GOING FORWARD.

AND ALSO WE VISITED WITH BUSINESS LEADERS IN NORTHWEST NEW JERSEY.

SO REALLY TRYING TO GET THE PICTURE OF WHAT'S HAPPENING IN THE REGION, WHAT ARE THE CHALLENGES, AND WHAT ARE SOME OF THE OPPORTUNITIES.

>> SO LET'S START WITH THE CHALLENGES FIRST.

WHAT STILL NEEDS TO HAPPEN IN OUR REGIONAL ECONOMY TO GET BACK TO WHERE WE WERE BEFORE THE PANDEMIC?

>> A LOT OF PEOPLE AREN'T GOING INTO THE OFFICE.

A LOT OF BUSINESSES RELY ONGOING INTO OFFICES OR HAVE STRUGGLED.

SO I THINK THAT ESPECIALLY FOR NORTHERN NEW JERSEY, AS NEW YORK CITY KIND OF COMES BACK AND THAT WILL HELP A LOT OF THE BUSINESSES SUPPORT THOSE KIND OF ACTIVITIES, ESPECIALLY BUSINESS RELATED TO RESTAURANTS AND ENTERTAINMENT AND THINGS LIKE THAT.

WE HAVE SEEN MANUFACTURING DO PRETTY WELL IN NEW JERSEY.

WE HAVE SEEN THE PORTS ARE ACTIVE.

A LOT OF AREAS OF THE ECONOMY HAVE ROECOVERED.

THAT'S GREAT NEWS.

WE'RE SO NOT QUITE ALL THE WAY BACK TO A FULL RECOVERY.

IN PART BECAUSE WE'RE NOT BACK TO A NORMAL WORK STYLE.

WHATEVER THAT IS.

>> YOU MENTIONED THERE ARE OPPORTUNITIES AS WELL.

CAN YOU SHARE THOSE?

>> REALLY FOCUSING ON THE THINGS THAT THE PARTS OF THE TYPES OF JOBS AND BUSINESSES THAT ARE GOING TO BE KIND OF CORNERSTONES FOR OUR FUTURE.

THAT INCLUDES SOME OF OF THE TRADITIONAL ONES LIKE FINANCIAL SERVICES AND ENTERTAINMENT AND CREATIVE ARTS, BUT ALSO TECHNOLOGY AND INNOVATION TOO, WHICH IS INCREASING PARKING LOT OF OUR ECONOMY.

>> I WANT TO ASK CAN ABOUT THE LABOR MARKET, WHICH WE REPORTED A LOT ON OVER THE LAST COUPLE MONTHS.

SO MANY TRENDS THAT ARE INTERESTING.

THE GREAT RESIGNATION, THERE ARE MORE JOB OPENINGS THAN PEOPLE TO FILL THEM.

WE LOOK AT THE JOLT SURVEY.

CAN YOU COMPARE WHAT'S HAPPENING IN THE LABOR MARKET TO ANY OTHER TIME IN U.S. HISTORY?

WHAT IS NOW A NORMAL LABOR MARKET?

>> I'M NOT TAKING AS MUCH SIGNAL ABOUT ALL OF THIS GREAT RESIGNATION AS A PERMANENT T THING.

I DO KNOW THAT AS TIMES CHANGE, HOPEFULLY WE'LL PASS THE PANDEMIC, PEOPLE MAY ALSO RETHINK ABOUT WANTING TO REENTER THE LABOR FORCE.

WE DON'T KNOW THE ANSWER TO THESE QUESTIONS.

WHAT IT DOES MEAN FROM HERE AND NOW, THIS IS A VERY TIGHT LABOR MARKET.

IT'S DROPPED TOWN TO VERY LOW LEVELS AND JOB OPENINGS ARE VERY HIGH.

AND WAGES ARE GROWING VERY RAPID LY.

>> SO ARE WE AT MAXIMUM EMPLOYMENT?

>> WE ARE AT LEVELS CONSISTENT WITH MAXIMUM EMPLOYMENT NOW.

I'M AN OPTIMIST.

AND I WILL HAD SAY AN OPTIMIST.

I THINK OVER THE NEXT COUPLE YEARS IS HOPEFULLY WE WORK THROUGH COVID AND MOVE ON TO BRING PEOPLE BACK WHO WAS DROP OUT TEMPORARILY.

>> THE PROBLEM IS IT'S NOT STRONG FOR EVERYONE.

WE CONSISTENTLY SEE MINORITIES, THE AFRICAN-AMERICAN UNEMPLOYMENT RATE IS EVERY MONTH MUCH HIGHER THAN THE WHITE UNEMPLOYMENT RATE.

WE HAVE DESPAIRTIES IN PAY.

IS THERE SOMETHING ON A POLICY LEVEL THAT CAN BE DONE TO ENCOURAGE MAXIMUM EMPLOYMENT FOR EVERYONE?

>> IF WE CAN CREATE A STRONG, SUSTAINABLE ECONOMY, WE CAN ACTUALLY AT THE MACROLEVEL CREATE CONDITIONS THAT DO BENEFIT EVERYONE IN THE ECONOMY.

>> LET'S GET TO THE OTHER PART OF YOUR BAND-AID.

STABLE PRICE, WHICH YOU REFERRED TO THERE, WE ALL HAVE SEEN THE HEADLINES ABOUT INFLATION.

THE FED MADE IT CLEAR A SERIES OF INTEREST RATE INCREASES ARE LIKELY THIS YEAR.

THE MARKETS ARE READY FOR THAT.

SEVERAL MONTHS AGO WE HEARD FROM THE FED CHAIR, MR. POWELL, THAT INFLATION WAS TRANSITORY.

NOW WITH THIS SURGE AT LEVELS WE HAVEN'T SEEN IN 40 YEARS, HOW DO YOU RESPOND TO CRITICS WHO SAY THE FED IS MOVING ON INFLATION TOO LATE?

>> INFLATION HAS RISEN MUCH MORE THAN MOST PEOPLE EXPECTED.

ISSUES HAVE NOT RESOLVED AS QUICKLY AS WE HOPED.

IT'S A DIFFERENT SITUATION.

AND THAT CALLS FOR THE DIFFERENT MONETARY POLICY.

>> THANK YOU SO MUCH FOR YOUR TIME TODAY.

>> GREAT TALKING TO YOU.

HAVE A GREAT DAY.

>> YOU CAN WATCH THE FULL INTERVIEW WITH THE FED PRESIDENT ON THE NJ SPOTLIGHT NEWS YOUTUBE PAGE.

>>> THERE'S SOME RENEWED INTEREST IN LEGISLATION TO ENACT A SMOKING BAN IN ATLANTIC CITY'S CASINOS.

WITHIN THE CASINOS, THERE ARE THOSE FOUR AND AGAINST THE BAN, A GROUP CALLED CASINO EMPLOYEES AGAINST SMOKING EFFECTS IS FIGHTING FOR THE BAN SAYING THEY ARE WORRIED ABOUT HOW SMOKING IMPACTS THEIR HEALTH.

THE CASINO EXECUTIVES OPPOSE IT SAYING IT WILL HURT BUSINESS.

THE KACASINO ASSOCIATION OF NEW JERSEY COMMISSIONED A STUDY WHICH CONCLUDED A SMOKING BAN WOULD COST THE CASINOS JOBS AND MONEY.

THE PRESIDENT OF THE ASSOCIATION AND THE HARD ROCK ATLANTIC CITY.

>> OUR SLOT MACHINES AND TABLE GAMES ARE 50% HIGHER THAN NON-SMOKING GAMES.

SO REVENUE WILL GO DOWN, JOBS WILL BE CUT, THOUSANDS OF JOBS WILL BE LOST.

>> THE REPORT PROJECTS UP TO 2,500 POSITIONS COULD BE CUT AND GAMING REVENUE COULD FALL NEARLY 11%.

GOVERNOR MURPHY SAID RECREATIONAL CANNABIS SALES COULD BEGIN WITHIN WEEKS.

DURING HIS RADIO SHOW IN NEWARK, THE GOVERNOR SAID HE HOPED SALES WOULD BEGIN IN MARCH AT EXISTING MEDICAL MARIJUANA DISPENSARIES.

AHEAD OF THAT, RUTGERS RELEASE ED A STUDY ON MARIJUANA USAGE TO HP GUIDE STATE POLICY.

I RECENTLY SPOKE WITH THE MAIN INVES INVESTIGATOR, THE SCHOOL OF PUBLIC AFFAIRS.

>> GREAT TO SEE YOU ON BUSINESS BEAT ONCE AGAIN.

>> THANK YOU FOR HAVING ME.

>> RUTGERS HAS A NEW STUDY OUT LOOKING AT THE MARIJUANA INDUSTRY BUT WILL ROLL OUT IN NEW JERSEY.

BEFORE WE GET INTO THE DETAILS OF THAT, I JUST WANT TO POINT OUT THAT AN INDUSTRY THAT IS JUST BEGINNING, NO ONE IS UNIQUE.

IT'S DIFFERENT THAN OTHER INDUSTRIES AND PERHAPS THAT'S WHY WE NEED A STUDY LIKE THIS.

SO CAN YOU KIND OF FIRST TALK TO ME ABOUT WHAT MAKES THE MARIJUANA INDUSTRY UNIQUE AND WHY SEVERAL FACTORS SHOULD BE CONSIDERED AS WE MOVE FORWARD WITH IT.

>> IT'S VERY IMPORTANT THAT LEGALIZATION COME WITH SOME PARAMETERS.

AND IS NECESSARY FOR A COURSE BECAUSE WE NEED TO KNOW WHAT SORT OF IMPACT IN TERMS OF HEALTH, PUBLIC SAFETY, EDUCATION, HOW THESE THINGS, HOW LOCALIZATION IS GOING TO IMPACT OUR COMMUNITIES IN THESE IMPORTANT FACTORS.

>> SO LET'S DIVE INTO THE STUDY NOW.

LET'S START WITH THE HEALTH S ASPECT.

WHAT DID YOU FIND IN TERMS OF MARIJUANA AND HEALTH IMPLICATIONS.

>> WE FOUND THAT WHITE USERS OUTNUMBERED BLACK USERS 2 1/2 TO 1 WHEN IT COMES TO HEALTH FACILITIES FOR SUBSTANCE ABUSE OR DRUG OVERDOSE.

WE ALSO FOUND THAT DRUG OVERDOSE MORTALITY WAS CONSIDERABLY HIGHER IN THE SOUTHERN PART OF THE STATE IN COMPARISON TO THE NORTH HALF OF NEW JERSEY.

SUICIDES WERE ALSO VERY HIGH IN THE SOUTH IN COMPARISON TO THE NORTHERN HALF OF THE STATE.

>> YOU ALSO LOOK ED AT LAW ENFORCEMENT.

THIS HAS BEEN A BIG ISSUE IN DISCUSSIONS AROUND MARIJUANA IN THE STATE.

WHAT DID YOUR SURVEY FIND?

>> THE NUMBER OF BLACK RESIDENTS OUTNUMBERED THE NUMBER OF WHITE RESIDENTS WHO ARE ARRESTED FOR POSSESSION OF MARIJUANA BY MORE THAN FIVE TIMES.

BLACK RESIDENTS WERE ARRESTED A THE A RATE THREE TIMES HIGHER FOR POSSESSION.

SO KNOWING THIS DATA UP FRONT CAN HELP YOU PREPARE FOR SOME POTENTIAL EVENTUALTIES.

ARREST RATES PART 18 TO 20-YEAR-OLDS WERE CONSIDERABLE HIGHER.

SO YOUNGER GENERATIONS ARE PARTICIPATING.

>> I'M GOING TO GO BACK TO MY FIRST POINT.

WHEN WE TALK ABOUT INDUSTRIES, WE DON'T SEE A DISPARITY THAT IS SO EXTREME.

WHAT IS IT ABOUT MARIJUANA?

>> IT HAD A DISPROPORTIONATE IMPACT ON MINORITY COMMUNITIES.

THAT'S WHY WEE SEE ARREST RATES FOR POSSESSIONS AND THE SALE OF MARIJUANA THAT LOOKED LIKE THEY DO.

>> WHAT WOULD YOU TELL STATE OFFICIALS AS THEY ARE LOOKING TO ROLL OUT LEGALIZED MARIJUANA?

HOW DO THEY TAKE THIS INFORMATION AND THEN ROLL OUT AN INDUSTRY IN A FAIR AND ACCOUNT WITABLE WAY?

>> I WOULD SAY THAT THE STATE HAS TO RECOGNIZE THAT ALL COMMUNITIES ARE NOT THE SAME.

THERE SHOULD BE A SOCIAL JUSTICE ASSESSMENT TO SEE IF THERE WOULD BE AN IMPACT ON MINORITY COMMUNITIES.

I WOULD SAY THAT THE STATE NEEDS TO TAKE THIS BASELINE DATA AND START ASKING SOME DEEPER DIVE QUESTIONS.

>> SO GOOD TO TALK TO YOU AND GET THIS LATEST RESEARCH.

APPRECIATE IT.

>> THANK YOU FOR HAVING ME.

>>> FAST FOOD CHAIN WHITE CASTLE RECENTLY MADE NEWS BY ANNOUNCING ITS BRINGING BURGER FLIPPING ROBOTS TO 100 LOCATIONS IN THE U.S.

THE COMPANY IS NOT ALONE IN EMBRACING ROBOTS.

DENNY'S HAS ROBOT SERVERS IN SOME OF ITS RESTAURANTS.

WHETHER IN RESTAURANTS, THE FACTORY FLOOR OR THE OPERATING ROOM, MORE COMPANIES ARE USING ROBOTS AND THE GLOBAL MARKET IS GROWING.

SO WE'RE PUTTING ROBOTICS IN FOCUS THIS WEEK.

WE THINK ABOUT ROBOTICS IN NEW JERSEY, IT HELPS TO TAKE A BIG PICTURE VIEW.

HERE ARE SOME GLOBAL STATS.

WHILE THERE'S FEAR THEY ARE GOING TO REPLACE HUMANS, THE WORLD ECONOMIC FORUM BELIEVES AUTOMATION WILL LOAD TO AN INCREASE OF 58 MILLION JOBS.

AUTOMATION WILL HAD ADD 5% OR 1.2 TRILLION DOLLARS TO U.S. GDP IN THE NEXT FIVE YEARS.

BUT ROBOTICS WILL CHANGE HOW WE WORK.

FREEING UP HUMANS TO DO MORE CHALLENGING JOBS AND HALF OF THE WORLD'S WORKERS WILL NEED RESKILLING.

RECENTLY THE MURPHY ADMINISTRATION RELEASED A REPORT CALLED THE FUTURE OF WORK, WHICH FOUND AUTOMATION AND ROBOTICS ARE CHANGE ING WHAT WE DO IN TH WORKPLACE, THE NUMBER OF WORKERS NEEDED AND THE SCALE OF WHAT WE PRODUCE.

ROBOTS CAN REPLACE WORKERS DOING DANGEROUS TASKS MAKING THE WORKPLACE SAFER.

THEY HAVE THE POTENTIAL TO REDUCE COSTS AND CREATE NEW CATEGORIES OF JOBS.

BUT THE REPORT ALSO SAYS AUTOMATION WILL IMPACT SOME WORKERS, ESPECIALLY THOSE IN LOW-WAGE JOBS.

TO FIND OUT HOW THE ROBOTICS INDUSTRY IS CHANGING WORK IN NEW JERSEY, I SPOKE WITH PROFESSOR OF STEVENS INSTITUTE OF TECHNOLOGY ENGINEERING PROFESSOR WHO IS THE ASSOCIATE DEAN FOR UNDERGRADUATE STUDIES AT THE SCHOOL OFFER ENGINEERING AND SCIENCE.

PROFESSOR, LET'S BEGIN FIRST WITH PERHAPS MISCONCEPTIONS ABOUT ROBOTICS.

HOW PREVALENT ARE ROBOTICS IN OUR INDUSTRIES AND MEDICAL FACILITIES AND WHAT IS PERHAPS SOMETHING THAT PEOPLE DON'T UNDERSTAND ABOUT ROBOTICS.

>> HEALTH CARE MANUFACTURING PRODUCING SO MANY VACCINES FOR PEOPLE IN THIS WITH THE HELP OF ROBOTICS.

ROBOTICS, PEOPLE THINK ABOUT ROBOTICS AS MECHANICAL DEVICES.

BUT THERE ARE A LOT OF OTHER TYPES OF ROBOTICS THAT ARE USED LIKE AUTONOMOUS CARS AND UNLOAD LARGE SHIPS.

.

THEY COME IN MANY FORMS.

>> I HAVE HEARD TWO NARRATIVES ABOUT ROBOTICS.

THE ONE YOU OFTEN HEAR PEOPLE SAY IS ROBOTICS ARE GOING TO REPLACE HUMANS.

THEY ARE GOING TO TAKE OUR JOBS.

I HAVE ALSO HEARD WITH THE ACCELERATION OF ROBOTICS WE'LL NEED MORE HIGHLY SKILLED WORKERS.

SO WHERE IS THE TRUTH IN THOSE TWO STATEMENTS?

>> A LOT THOUGHT JOBS WOULD DO SUPERVISION TO COMMAND AND CONTROL ROBOTS.

RATHER THAN DOING THE REPET TY JOBS OURSELVES.

YOU'RE ASSEMBLING EVERYTHING.

A HUMAN DOES THAT, IT'S WORK.

IT'S ALSO DOES NOT HAVE ANY KIND OF FINANCIAL OR PHYSICAL OR EMOTIONAL OR INTELLECTUAL GROWTH IN IT.

SO IT'S A JOB WE DO BECAUSE WE NEED TO GET THE JOB DONE.

AND ROBOTS ARE EXTREMELY GOOD FOR THAT.

>> HOW DO YOU TAKE THAT FRAMEWORK AND THINK ABOUT EDUCATING NEW JERSEY STUDENTS IN ROBOTICS?

WHAT ARE SOME OF THE EXCITING MOMENTS RIGHT NOW IN THE FIELD OF EDUCATION?

>> WE TRANSFORM THE WAY WE TEACH STUDENTS IN ENGINEERING WITH THE ROBOTIC PRACTICE.

THEY TEACH A LOT OF OF DIFFERENT SKILLS.

SOFT SKILLS LIKE TEAM WORK, WORKING WITH PEOPLE WITH COMPLIMENTARY SKILLS.

SO THAT'S SOMETHING THAT HAS BEEN BUILDING IN THE LAST FIVE OR SIX YEARS.

THEY ALSO HAVE ROBOTICS MASTERS DEGREE FOR PEOPLE GO MANAGE THE DESIGN, OPERATE AND TO.

>> SOME EXCITING STUFF.

THANK YOU FOR SPENDING TIME TO DISCUSS THIS.

I APPRECIATE IT.

>> THANK YOU.

>>> ROBOTS ARE KRAIT CHANGING THE OPERATING ROOM.

JUST A FEW YEARS AGO, A DOCTOR MADE HISTORY PERFORMING ROBOTIC ASSISTED KNEE SURGERY.

I TALKED WITH THE VICE CHAIRMAN OF THE DEPARTMENT OF ORTHOPEDICS ABOUT THE GROWTH OF ROBOTIC SURGERY AND HOW IT'S IMPACTING PATIENT CARE.

DOCTOR, YOU ACTUALLY PERFORMED THE FIRST ROBOTIC ASSISTED KNEE REPLACEMENT SURGERY IN NEW JERSEY.

THAT WAS A FEW YEARS AGO.

HOW HAS THAT BECOME MORE PREVALENT IN YOUR FIELD SINCE THAT TIME?

>> I THINK YOU'RE SPOT ON.

IT HAS DEFINITELY SINCE 2020 WHEN I DID THE FIRST ROBOTIC SURGERY WITH THIS PARTICULAR DEVICE CALLED THE T-SOLUTION 1.

EARLIER I WOULD BE TALKING TO PATIENTS ABOUT ROBOTIC SURGERY.

NOW PATIENTS ARE ACTUALLY COMING IN ASKING, BEFORE THAT THEY CALL THE OFFICE ASKING ABOUT ROBOTIC SURGERY.

IT'S DEFINITELY BECOME UBIQUITOUS.

AS THEY SPEAK TO THEIR FRIENDS AND OTHER DOCTORS AND SEE ADVERTISE MMENTS AND CERTAINLY E WORK OF OUR PR DEPARTMENT AT MY HOSPITAL.

THEY HAVE REALLY DONE A GREAT JOB OF LETTING PEOPLE KNOW THAT IT'S HERE.

>> AND HOW DO ROBOTICS IN THE OPERATING ROOM HP THE PATIENT AND THE DOCTOR?

>> SO I THINK THAT THE MAIN ROLE FOR ROBOTICS THAT WE ACTUALLY WERE A PART OF THE TRIAL FOR THIS PARTICULAR ROBOT BACK IN 2017 TO 2019 AT THE MEDICAL CENTER, WE PROVED TWO THINGS.

THAT IT'S ACCURATE AND THAT IT'S SAFE.

SAFETY OBVIOUSLY MATTERS FIRST.

THAT'S HOW WE WERE ABLE TO PASS THE PDA APPROVAL QUITE EASILY WITH NO GLITCHES OR BUMPS ALONG THE WAY.

BUT THE ACCURACY PART IS THAT IN 115 PATIENTS THAT WE DID FOR THE STUDY, WE WERE THEN STUDYING THEM AFTER THE SURGERY TO SEE HOW WELL WE DID.

ON A CAT SCAN DONE ON THOSE PATIENTS, THE ACCURACY WAS WITHIN A MILLIMETER OR LESS OF WHAT WE WANTED TO ACCOMPLISH.

THERE'S NO MANUAL NONROBOTIC SURGERY THAT CAN RELIABLE DO THAT.

>> YOU'RE LEADING ME TO THE NEXT QUESTION.

HOW DO YOU SEE ROBOTICS EXPANDING NOT JUST IN ORTHOPEDICS, BUT THROUGHOUT SURGERY AND HEALTH CARE?

I GUESS WHEN YOU LOOK AT THE POTENTIAL FOR GROWTH, WHAT DO YOU SEE?

>> I THINK ONE DAY IT WILL TURN INTO NOT SO MUCH A ROBOTIC FACTORY, BUT SCIENTIFICALLY DONE AND WHAT WE'RE MISSING WHAT WE'RE GOING TO HAVE TO DO WITH TIME IS SHOW SOME PROOF THAT THIS IS SOMETHING THAT IS WORTH DOING AND WORTH INVESTING IN THIS KIND OF INNOVATION.

EVERY INNOVATION IS EXPENSIVE, BUT NOT ALL OF THEM ARE WORTH IT.

THIS MAYBE ONE THAT TIGHTENS UP THE BULLS EYE OF WHAT WE'RE TRYING TO ACCOMPLISH.

A TOTAL KNEE REPLACEMENT, HITTING A BULLS EYE IS EXTREMELY IMPORTANT.

>> THANK YOU FOR YOUR TIME.

I REALLY APPRECIATE SPEAKING WITH YOU AND GETTING YOUR INS INSIGHT.

>> IT'S MY PLEASURE.

>> AS I MENTIONED EARLIER, INCREASED AUTOMATION WILL CREATE WINNERS AND LOSERS, LOW-SKILLED WORKERS WILL NOT FAIR AS WELL AS HIGHLY SKILLED WORKERS.

ACROSS NEW JERSEY, STUDENTS ARE LEARNING ABOUT ROBOTICS ENTERING COMPETITIONS AND THINKING ABOUT STEM CAREERS.

ONE ORGANIZATION DRIVING CHANGE IS SOUTH ENGJERSEY ROBOTICES.

ITS VISION TO TRANSFORM THE CULTURE IN SOUTH JERSEY AND THE SURROUNDING AREA INTO ONE WHERE YOUNG PEOPLE DREAM OF BECOMING GLOBAL SCIENCE AND TECHNOLOGY LEADERS.

I SPOKE WITH KATHY, THE GROUP'S PRESIDENT.

THANK YOU FOR YOUR TIME.

THANKS FOR JOINING US.

>> SURE.

I'M HAPPY TO BE HERE.

>> TELL ME THE STORY ABOUT SOUTH JERSEY ROBOTICS.

WHY IS IT IMPORTANT TO HAVE THIS KIND OF EDUCATION IN IT SOUTH JERSEY?

>> SO IT STARTED IN 1999.

YOU WILL FIND STEM ALL OVER IN THE SCHOOLS N COMMUNITY PROGRAMS, BUT WHEN IT COMES TO SOUTH JERSEY, THESE TYPES OF PROGRAMS WERE AND STILL ARE LACKING OR CATCHING UP.

SO IN 1999, THERE WERE HIGH SCHOOL STUDENTS IN SALEM COUNTY THAT HAD AN INTEREST IN ROBOTICS AND THERE WAS ABSOLUTELY NOTHING FOR THEM.

SO A GROUP OF ADULTS VOLUMER TIERED, GOT TOGETHER AND DECIDED TO MENTOR A ROBOTICS TEAM FPZ AND LATER WE HAD THE BIRTH OF SOUTH JR. SEE ROBOTICS BECAUSE THAT WAS HAD INSPIRED THE COUNTY TO THE POINT WHERE OTHER STUDENTS WERE WANTING TO START TEAMS.

2022, WE NOW HAVE TEAMS IN SCHOOLS AND COMMUNITY-BASED TEAMS IN THREE COUNTIES.

>> SO THE ROBOTICS COMPETITIONS ARE A BIG DEAL.

WHAT IS IT THAT GETS STUDENTS EXCITE D ABOUT THESE COMPETITIOS AND HOW SUCCESSFUL HAVE THEY BEEN?

>> IT IS A PHENOMENAL WAY TO LEARN.

SO WHAT THESE KIDS COME IN DOING IN THE YOUNGER LEVELS, SO MAYBE K THROUGH 8th GRADE, THEY ARE USING LEGO PRODUCTS, MIND STORM AND THEY ARE HAVING FUN WITH TOUCHING, BUILDING, LEARNING TO CODE, A ALL THE BEGINNINGS OF MECHANICAL DESIGN.

THAT TYPE OF THING.

AND WHAT MAKES IT EXCITING IS MEETING TOGETHER, HAVING A THEME FOR A SEASON AND THEN AT THE END OF THE SEASON, METING WITH OTHER TEAMS THROUGHOUT SOUTH JERSEY IN A COMPETITIVE EVENT.

NOW IN THE HIGH SCHOOL LEVEL, SAME KIND OF THING, BUT ON A LARGER SCALE.

>> SO THESE KIDS ETC.

ESPECIALLY IN HIGH SCHOOL, IS THIS INSPIRING SOME OF THEM TO GO ON TO COLLEGE AND CONSIDER CAREERS IN WHICH ROBOTICS ARE USED?

ARE WE SEEING THAT KIND OF SPILLOVER SPO THEIR LIVES POST HIGH SCHOOL?

>> PART OF WHAT WE DO IS PROVIDE STEM CAREER EXPLORATION WE HAVE GREAT COMMUNITY TIES AND TIES WITH BUSINESSES THAT ALLOW US TO PROVIDE THE HIGH SCHOOL STUDENTS WITH INTERNSHIPS AND JOB OPPORTUNITIES THAT PUT THEIR SKILLS THAT THEY HAVE LEARNED INTO USE.

>> IT'S GREAT TO HEAR ABOUT THE PROGRAM.

THANK YOU SO MUCH FOR YOUR TIME.

>> SURE.

MY PLEASURE.

>> AND THAT WRAPS UP OUR SHOW FOR THIS WEEK.

JOIN US NEXT WEEK WHERE WE TAKE A CLOSER LOOK AT THE ROLE OF WOMEN IN BUSINESS AS WOMEN'S HISTORY MONTH BEGINS.

THANK YOU FOR WATCHING "JN BUSINESS BEAT."

ENJOY YOUR WEEKEND.

>>> FUNDING PROVIDED BY, MORE THAN 110 YEARS, THEY HAVE BEEN FOCUSED ON THE SUCCESS OF OUR MEMBERS.

REPRESENTING A ALL INDUSTRIES, WORKING TOGETHER TO HELP BUILD A MORE PROSPEROUS NEW JERSEY THROUGH ED ADVOCACY, SUPPORT, NETWORKING AND BENEFITS.

SCHOOL OF BUSINESS, A GAME CHANGING FORCE OFFERS PROGRAMS LIKE FINANCIAL TECHNOLOGY OR BUSINESS ANALYTICS AND DATA SCIENCE.

WE STEP AWAY FROM THE EXCHANGE PLACE PATH TRAINING AND MINUTES FROM WALL STREET.

LEARN MORE ONLINE.

AND LOCAL 102, PROUDLY SERVING NEW JERSEY'S BUSINESS COMMUNITY SINCE 1900.

LOCAL 102, LIGHTING THE PATH, LEADING THE WAY.