At BE NKY Growth Partnership’s 2025 Annual Forum on Feb. 6 at Northern Kentucky University, Economic Commentator Kyla Scanlon presented her perspective on the economy, future effects of automation and growth strategies for Northern Kentucky.
She said 2024 had its ups and downs. Positives included avoiding a recession, a relatively strong labor market, the moderation of inflation and growth in healthcare and manufacturing.
Negatives included unaffordable housing, elder care and childcare, and an erosion of public trust in major institutions such as the government, big technology and financial regulators, which makes it difficult to develop policy, get things accomplished and figure out where to go next.
Scanlon also said measuring the state of the economy can be complicated.
Gross domestic product (GDP) is a traditional economic metric, but Scanlon said it’s important to also look at the lived experiences of individuals because it can differ from what the economic data says.
“GDP can be going up, but if you can’t afford a house and you can’t afford to get your kid childcare, it doesn’t really matter,” she said.
One alternative way of evaluating the economy is The CORE Score, a nationwide measurement of American wellbeing launched in November 2023 by the American Academy of Arts and Sciences.
This tool aims to quantify normally “unquantifiable” metrics and move focus from how the economy is doing to how Americans are doing. The data is provided at the county level, and each county’s score is drawn from 11 indicators across four categories: economic security, economic opportunity, health and political efficacy.
If these metrics are tracked as closely as GDP, Scanlon said communities will have a better idea of how their residents are doing, and Northern Kentucky can start shifting the conversation by redefining what economic success means.
“Just because something is hard to measure doesn’t mean that it’s not important,” she said.
The Future of AI and growth strategies
AI is moving at an alarming rate, said Scanlon, and she said it seems like society has a conversation around AI, automation and resiliency about every five years.
Workers fear job replacement and there often exist disparities between tech start-ups offering six-figure salaries and family-owned businesses struggling to keep up with technology upgrades, a gap that needs to be bridged.
Scanlon said she doesn’t think automation will replace work but redefine it, and said it is already augmenting the work humans can do.
“I don’t think the challenge is job loss,” said Scanlon. “I think the challenge is job evolution.”
She said jobs of the future, such as automation supervisors, AI ethics consultants and logistics automation engineers, are forming right now and it’s important to understand how to prepare for them. She said it isn’t just about adopting new technologies or developing new skills but developing a mindset that sees opportunities rather than threats.
“Every automated system at the moment needs people to manage it, maintain it and improve it,” said Scanlon. “Every AI implementation creates new jobs.”
Northern Kentucky saw growth in multiple industry sectors in 2024, but especially in advanced manufacturing, which led BE NKY’s metrics for project wins, capital investment, and new job announcements.
Automation will transform many of these jobs, said Scanlon, and it will be important for the region to adapt to these changes in our world.
“Adaption isn’t just about survival, it’s about finding new ways to thrive,” said Scanlon.
Innovation is already happening throughout Northern Kentucky, she said, including in warehouses, factories, and small businesses. The future depends on the decisions made today, and how Northern Kentucky invests in workforce development, supports its community through transitions, measures and defines success and ensures growth benefits everyone.
To create an economy that works for everyone, Scanlon cited a few key strategies: infrastructure investment, expanding transportation, improving broadband access, developing public spaces, addressing childcare needs and healthcare access, strengthening public/private partnerships, and encouraging collaboration between cities, counties and economic organizations.
“Northern Kentucky’s strength lies in its ability to act as a unified region while respecting local differences,” she said.
About BE NKY Growth Partnership
BE NKY Growth Partnership, the economic development company for Northern Kentucky, provides businesses with the expertise they need to build opportunity in Boone, Kenton, and Campbell counties. We attract new business and elevate what’s already here to create innovative, forward-thinking, and attractive environments for companies and community success. We serve Northern Kentucky so that our community thrives through the creation of good jobs and a growing and diverse economy. We believe in Opportunity and Prosperity for All Northern Kentuckians. Visit www.BE-NKY.com for more information.
