Tag: consumer

Common fallacies impede sound policy

Those who advocate rational public policy, based on a thorough understanding of the principles of human action and the benefits of voluntary exchange, are bound to be disappointed much of the time.

That’s not an argument against fighting for freedom . But it is an argument for realism and for keeping expectations low — so you can be pleasantly surprised when policymakers resist political temptations and make good decisions, whether they be here in North Carolina or in Washington, DC. (Just kidding about the latter possibility.)

Why do policymakers so often get things wrong? Bryan Caplan, an economist at George Mason […]

Automation Isn’t the Biggest Threat to US Factory Jobs

Automation Isn't the Biggest Threat to US Factory Jobs

For the past few decades, there has been an ongoing debate about the rise of automation in the industrial sector, and its potential impact on American manufacturing jobs. Many experts argue that as robots and AI become more advanced, they will inevitably replace many human workers on factory floors across the country. While the growing capabilities of automated systems do pose a legitimate disruption risk to some occupations, this view overlooks several important nuances regarding the true dynamics reshaping factory employment in the US. The relationship between automation and jobs is far more complex than simply machines displacing people […]

After White-Collar Jobs OpenAI Goes After Blue-Collar Jobs; The Race For Humanoid Robots And The Age Of AGI; How Critical Will It Be In Balancing Employment Opportunities In The Age Of AI

After White-Collar Jobs OpenAI Goes After Blue-Collar Jobs; The Race For Humanoid Robots And The Age Of AGI; How Critical Will It Be In Balancing Employment Opportunities In The Age Of AI

In pursuing Artificial General Intelligence (AGI), robotics has emerged as a crucial frontier, with companies vying to develop the ultimate humanoid robot. OpenAI , known for its advancements in AI research, has rekindled its interest in robotics with Figure-01, a humanoid robot that promises to push the boundaries of automation.

CEO Adcock believes that Figure holds the key to automating complex tasks, stating that the demand for such solutions is virtually limitless and with recent updates showcasing Figure brewing coffee, the robot demonstrates a level of dexterity and adaptability learned from observing human actions; thus the possibilities are endless.

Related […]

View: The one thing that can slow AI’s breakneck speed

View: The one thing that can slow AI's breakneck speed

Promoters of AI sell hope and assurance like previous revolutions. AI may make labor functions redundant, lead to reduced work hours, and render developers/champions unnecessary. Investments in human-like robots and hiring freezes indicate a possible future of RHRP.

Ateesh Tankha Ateesh Tankha The writer is founder-CEO, ALSOWISE Content Solutions

When they are not indulging in circus-worthy boardroom battles, promoters of AI have sought to allay the fears of governments and corporations by selling a future full of hope and assurance. Par for the course. Every political and economic revolution has offered these twin promises in lieu of a change that […]

The Impact of Automation on Employment: Just the Usual Structural Change?

The Impact of Automation on Employment: Just the Usual Structural Change?

The impact of automation on employment is not the "end of work" but rather a usual structural change . Studies have shown that while there may be job displacement in certain sectors due to automation, it is compensated by job creation in other sectors, including newly created labor-intensive sectors . The introduction of robotics and AI may affect employment in "applying" sectors, but job creation in "making" sectors and complementary sectors helps to balance the overall employment shifts . Research has also highlighted the importance of technological innovation for economic progress and the need for social programs to alleviate […]

The Impact of Automation on Employment

The Impact of Automation on Employment

The Impact of Automation on Employment

Automation has had a significant impact on employment in recent years, and the effects are only expected to increase in the future. Automation can lead to job losses in certain industries, but it can also create new opportunities in other areas. It’s important to consider the ways that automation is changing the job market, and how we can adapt to these changes.

For the last thirty years at the very least, and possibly longer depending on the movies we’ve seen, we’ve been hearing tales of the impending collapse of the human workforce. It is […]

Investments in workplace machines help explain strong U.S. economy

Investments in workplace machines help explain strong U.S. economy

iStockphoto Worker shortages have led many companies to invest in machines and train the workers they do have to use advanced technology to produce more with less.

The result has been an unexpected productivity boom, which helps explain a great economic mystery: How has the world’s largest economy stayed so healthy, with brisk growth and low unemployment, despite brutally high interest rates that are intended to tame inflation but that typically cause a recession?

To economists, strong productivity growth provides an almost magical elixir. When companies roll out more efficient technology, their workers can become more productive: They increase their output […]

Generative AI in Real-Time Decision Making: Applications in Dynamic Environments

Generative AI in Real-Time Decision Making: Applications in Dynamic Environments

Artificial intelligence had a banner year in 2023, capturing headlines for generative tools that went mainstream (ChatGPT, DALL-E, and Midjourney leading the way) and the reactive efforts by world governments to assess and start reigning in what AI can and cannot do.

While these hands-on applications are likely to be the first (and in some cases only) examples most people think of when they hear “AI,” it is the application of advanced machine learning in dynamic environments that will have the most substantial long-term impact on our lives. And yet, many of the most impactful developments in this space remain […]

AI Could Actually Help Rebuild The Middle Class

AI Could Actually Help Rebuild The Middle Class

AI doesn’t have to be a job destroyer. It offers us the opportunity to extend expertise to a larger set of workers. SERIFA for Noema Magazine Essay Technology & the Human

David Autor is a renowned labor economist and professor of economics at the Massachusetts Institute of Technology who studies how technological change and globalization affect workers.

He is also co-director of the MIT Shaping the Future of Work Initiative and the National Bureau of Economic Research Labor Studies Program.In a recent interview with U.K. Prime Minister Rishi Sunak, Elon Musk proclaimed artificial intelligence to be “the most disruptive force […]

New Technology Trends for 2024

New Technology Trends for 2024

Here are the top 18 emerging technology trends you should watch for and make an attempt at in 2024 (Image: Admiral Casino) Technology today is evolving at a rapid pace, enabling faster change and progress, causing an acceleration of the rate of change.

However, it is not only technology trends and emerging technologies that are evolving, a lot more has changed, making IT professionals realize that their role will not stay the same in the contactless world tomorrow.

And an IT professional in 2024 will constantly be learning, unlearning, and relearning (out of necessity, if not desire).What does this mean for […]