Socialism specifically refers to who owns and controls the means of production, such as factories, farms, businesses, or other assets that produce commodities which hold useful value.
As it stands, the means of production, despite its operation becoming increasingly automated, still largely remains owned by private individuals.
To achieve socialism, the means of production would need to be seized and both held in common / public ownership and be put to use producing on a basis of the material needs of the population instead of chasing the profit motive.
Not necessarily.
Socialism specifically refers to who owns and controls the means of production, such as factories, farms, businesses, or other assets that produce commodities which hold useful value.
As it stands, the means of production, despite its operation becoming increasingly automated, still largely remains owned by private individuals.
To achieve socialism, the means of production would need to be seized and both held in common / public ownership and be put to use producing on a basis of the material needs of the population instead of chasing the profit motive.