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 […]

To keep ahead of the machines, human workers need better training

To keep ahead of the machines, human workers need better training

1 of 6Visitors watch a robot performing at the China International Industry Fair in Shanghai, Wednesday, Sept. 19, 2018. China’s No. 2 leader appealed Wednesday for support for free trade and promised to improve conditions for foreign companies following tit-for-tat U.S. and Chinese tariff hikes in an escalating battle over Beijing’s technology Photo: Associated Press 2 of 6An Autonomous Container Trailer transports a cargo container to the baggage holding area during a test drive at Changi International Airport in Singapore, on Tuesday, July 17, 2018. The airport, voted the world’s best for the past six years by Skytrax, is […]

Progress In Artificial Intelligence Has Opened Doors To Dystopian Threats

Progress In Artificial Intelligence Has Opened Doors To Dystopian Threats

As the field of application for artificial intelligence is growing, so is its threat landscape. Recent improvements in hardware indicate that AI algorithms are now able to surpass human accuracy in several aspects. However, the technological progress also poses unprecedented ethical challenges. Researchers and AI theorists believe that beside a clutch of economic benefits and global opportunities created by AI, the technology also poses global risks, which could surpass nuclear technology as well.

As research progresses in this field, scientific risk analyses suggest that high-potential damages resulting from AI should be taken very seriously — even if the probability of […]

‘Machines will rule workplace by 2025’

‘Machines will rule workplace by 2025’

A sign of the World Economic Forum (WEF) is pictured on January 10, 2017 at its headquarters in Cologny near Geneva. | Photo Credit: In less than seven years, by 2025, machines are projected to overtake humans in workplace task hours in 12 key industry sectors, according to a ‘Future of Jobs’ report by the World Economic Forum (WEF).

Globally, almost half of all companies expect automation to cut their full-time workforce in the next four years; however, new jobs will still lead to a net gain in employment opportunities if sufficient reskilling is done. In India, 54% of employees […]

Robots in workplace ‘could create double the jobs they destroy’

Robots in workplace 'could create double the jobs they destroy'

The rise of machines, robots and algorithms in the workplace stands to create almost double the number of jobs for the global economy by the middle of the next decade than it puts at risk of being replaced.

According to the World Economic Forum (WEF), about 133m jobs globally could be created with the help of rapid technological advances in the workplace over the next decade, compared with 75m that could be displaced.

The findings will go some way towards assuaging fears that the rise of the robot economy could cost millions of workers their jobs, with widespread ramifications for pay, […]

New industrial revolution means workers may never retire, warns Mark Carney

New industrial revolution means workers may never retire, warns Mark Carney

File photo dated 24/05/18 of Bank of England Governor Mark Carney. PRESS ASSOCIATION Photo. Issue date: Tuesday August 28, 2018. Victoria Jones/PA Wire. A new industrial revolution could mean many workers will never have enough money to retire, Bank of England governor Mark Carney has warned.

He said automation, artificial intelligence, biotechnology and 3D printing will lead to higher unemployment and rising inequality.

The predicted changes, which Carney described as a fourth industrial revolution, could lead to a “substantial skills mismatch”.He said about ten per cent of jobs in the UK will disappear, while the “threat of robot substitutes” will weaken […]

Longer working lives could end retirement hopes, claims Carney

Longer working lives could end retirement hopes, claims Carney

Warnings: Mark Carney People may not have the option of retiring because of longer working lives, the Bank of England governor has warned.

Rapid and seismic change is likely to lead in the interim to unemployment, dislocation and rising inequality, Mark Carney added.

Increasing automation of jobs represents a Fourth Industrial Revolution which threatens a tenth of UK posts and 15% in Ireland, Mr Carney told an audience at the Republic’s Central Bank in Dublin.He said: "Unlike in the previous industrial revolutions, the more rapid pace of adjustment and longer working lives means workers may not have the option of retiring."This […]

Carney: People may not be able to retire because of longer working lives

Carney: People may not be able to retire because of longer working lives

People may not have the option of retiring because of longer working lives, the Bank of England governor has warned.

Rapid and seismic change is likely to lead in the interim to unemployment, dislocation and rising inequality, Mark Carney added.

Increasing automation of jobs represents a Fourth Industrial Revolution which threatens a 10th of UK posts and 15% in Ireland, Mr Carney told an audience at the Central Bank in Dublin. Mark Carney addressed an audience at the Central Bank in Dublin (Niall Carson/PA) He said: “Unlike in the previous industrial revolutions, the more rapid pace of adjustment and longer working […]

Job-stealing robots stoke concerns about inequality in Japan

Job-stealing robots stoke concerns about inequality in Japan

Japan has more than 3 industrial robots installed in factories for every 100 workers. © Reuters NEW YORK — Japan is famous for its innovation in productivity-boosting automation and lifelike robots like Sony’s robo-puppy aibo, but a new study finds that many Japanese believe these advances are coming at the expense of the humans that made them.

According to the study released by the Pew Research Center Thursday, which surveyed public opinion on job automation in 10 developed and emerging economies, 89% of Japanese respondents think robots and computers will either "definitely" or "probably" take over many jobs now done […]