Rest Easy, Sort of: AI Will Create More Jobs Than It Destroys

Rest Easy, Sort of: AI Will Create More Jobs Than It Destroys

Artificial intelligence, robotics and the fourth industrial revolution are setting the stage for a massive, global expansion in job creation, according to a new report released by the World Economic Forum .

Entitled “ The Future of Jobs ”, the report predicts that although the new technology will wipe out 75 million jobs worldwide by 2022, 133 million new jobs will be created in their place. The Swiss organization behind the annual agenda-setting Davos summit claims that on the whole, the robot revolution will by far deliver a net positive contribution to employment. Smooth Sailing or Storms Ahead?

The […]

Automation in a low-wage country

Automation in a low-wage country

Robots are common in car production: VW production line in Puebla, Mexico. © Lossie/picture-alliance/dpa

Evermore industrial robots are being used in Mexico, where the potential for automation is great. To what extent robots will really replace low-wage labour remains to be seen however.

Mexico has historically been a low-wage economy. In the past, the USA’s southern neighbour mostly attracted foreign investors with low production costs which basically resulted from cheap labour. Among the members of the OECD (Organisation for Economic Co-operation and Development), a club of advanced economies, Mexico has the lowest minimum wage. It is a mere 88.36 pesos per […]

The jobs that are set to dissapear in Australia

The jobs that are set to dissapear in Australia

A MAJOR inquiry into the future of work in Australia has revealed the type of job that won’t be around much longer and what skills you will need. AT THE start of the twentieth century, almost a quarter of the Australian population worked in the agricultural sector. Today, that fraction is under 3 per cent.

Australia’s economy is now heavily reliant on the services sector, which represents more than 70 per cent of gross domestic product (GDP) and employs four out of five Australians.

With a changing global economy and massive technology disruption, the future of the Australian workforce and the […]

‘There will be massive job disruption’: What the future of work looks like

‘There will be massive job disruption’: What the future of work looks like

worked in the agricultural sector. Today, that fraction is under 3 per cent.

Australia’s economy is now heavily reliant on the services sector, which represents more than 70 per cent of gross domestic product (GDP) and employs four out of five Australians.

With a changing global economy and massive technology disruption, the future of the Australian workforce and the type of jobs that are available will continue to change.“The pace of change is increasing and the countries that manage this change and get out ahead of it will be the real winners,” Queensland Labor Senator Murray Watt told news.com.au.Senator Watt is […]

Report: Machines will handle 50% of workplace tasks within 7 years

LONDON (Bloomberg) — Machines and automated software will be handling fully half of all workplace tasks within seven years, a new report from the World Economic Forum forecasts. But the group said technologies such as artificial intelligence, robotics, and precision medicine, could create more jobs than they threaten.

In a study of executives and specialists across 12 industries, published Monday, the WEF concluded that this so-called Fourth Industrial Revolution could create 133 million jobs globally, while 75 million workers may be displaced.

Saadia Zahidi, head of the WEF’s Center for the New Economy and Society, said companies had “a moral and […]

25,000 robots and counting: Welcome to the fastest-growing segment of industrial automation

25,000 robots and counting: Welcome to the fastest-growing segment of industrial automation

Collaborative robots, usually called cobots , are now the fastest growing segment of industrial automation and are expected to make up 34% of all industrial robot sales (a ten-fold increase) by 2025. Universal Robots (UR), the company that helped pioneer the market — one that was largely nonexistent a decade ago — just announced its 25,000th cobot sale.

The news coincides with the start of the International Manufacturing Technology Show ( IMTS ), which began today.

Universal Robots has a 60 percent share of the cobot market, but rapid maturity in the sector has attracted plenty of rivals. In a topsy […]

Robots ‘could make 400,000 West Yorkshire jobs obsolete in 20 years’, says report

Robots 'could make 400,000 West Yorkshire jobs obsolete in 20 years', says report

The study suggested the changes will not necessarily mean a loss of jobs overall, but warned inequality could get worse. Robots and automated technology threaten to make more than a third of jobs in West Yorkshire obsolete within 20 years, a report has warned.

The West Yorkshire Combined Authority study said more than 400,000 jobs in the region are at risk, with low-skilled and manual work potentially worst affected by automation.

The study suggested the changes will not necessarily mean a loss of jobs overall, but warned inequality could get worse as “lower paid workers (are) likely to be […]

Automation, robots and the ‘end of work’ myth

Automation, robots and the ‘end of work’ myth

Can you imagine travelling to work in a robotic “Jonnycab” like the one predicted in the cult Arnold Schwarzenegger movie Total Recall? The image from 1990 is based on science fiction, but Mercedes Benz does have a semi-autonomous Driver Pilot system that it aims to install in the next five years and Uber is also waging on a self-driving future. Its partnership with Volvo has been seen as a boost to its ambitions to replace a fleet of self-employed drivers with autonomous vehicles.

Jonnycab might belong to futurology but if MIT academics Erik Brynjolfson and Andrew McAfee are right, we […]

Hiring managers say AI will change how we work within five years

Hiring managers say AI will change how we work within five years

During the 1940s, AT&T employed more than 350,000 telephone switchboard operators — a job that’s nearly vanished. But, today, some estimates put the number of mobile app developers at 12 million individuals worldwide. Just as technologies and communications change, jobs likewise evolve. The workforce as we know it is in the throes of a revolution.

As new technologies emerge in what some have dubbed the Fourth Industrial Revolution , innovative companies have already begun to adapt, prompting reevaluations of workforce development strategies. Artificial intelligence, in particular, brings new possibilities — like increased productivity and innovation. It also has sweeping implications […]

Thanks to AI, the need for humans to work for survival could soon be at an end

Thanks to AI, the need for humans to work for survival could soon be at an end

Should we fear the rise of the robots? Earlier this month, a report warned that over 6 million workers in the UK fear losing their jobs as a result of developments in automation. The Bank of England has gone further: its own study in 2015 estimated that 15 million British jobs could be at risk; more recently Mark Carney, the bank’s governor, suggested job losses caused by the technological revolution could re-create conditions seen after the industrial revolution of the 18th and 19th centuries.

The response to these warnings has been a flurry of comments in national newspapers, coloured by […]