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I do not agree with this. From an economics standpoint, the service industry would be more redundant in an I&C industry. The world is experiencing a supply shortage, which calls for more production, especially with the food and energy crisis. The inflation is proof of strong demand for products.

Ultimately, it’s all relative and depends on context and micro-factors. If services are saturated, there would also be redundancies, like what is happening in tech companies.