Tag: inequality

Labor market impacts of digitalization and automation

Labor market impacts of digitalization and automation

Technological change will not lead to mass unemployment but to increasing inequality and labor market polarization

The past decades have been characterized by a tremendous rise in computing power, reducing the costs of automating so-called routine tasks which follow clear, explicit rules and can thus be put into computer code. This has led to a polarization of labor markets in advanced economies with declining shares of middle-paid, routine-intensive occupations and rising shares of both, high- and low-paid jobs.

While this computerization has not led to employment declines, the question whether this holds true for the effects of further technological advances […]

What does automation mean for our ongoing gender inequality?

What does automation mean for our ongoing gender inequality?

Recent trends and the broader history of technological change indicate that automation will usher in major shifts in labor markets over the next decade, displacing millions of workers but also creating millions of new jobs that require new skills.

The McKinsey Global Institute, having documented these changes for several years, has produced a new report examining how automation might affect men and women differently.

A key conclusion of the study is that persistent gender disparities in the workplace, as documented in a previous MGI report, will make it more difficult for women than for men to adapt to the coming changes […]

Our misplaced fear of job-stealing robots

Our misplaced fear of job-stealing robots

Image: Shutterstock Some good news: The robots aren’t coming for your job. Experts say fears that rapid advances in artificial intelligence, machine learning, and automation will leave all of us unemployed are vastly overstated.

But concerns over growing inequality and the lack of opportunity for many in the labor force — serious matters linked to a variety of structural changes in the economy — are well-founded and need to be addressed, four scholars on artificial intelligence and the economy recently told an audience at Stanford Graduate School of Business.

That’s not to say that artificial intelligence isn’t having a profound effect […]

Warning millions of jobs to be lost to robots by 2030 – ‘There are NO jobs for life’

Warning millions of jobs to be lost to robots by 2030 - ‘There are NO jobs for life’

According to a new study from Oxford Economics, a rise in artificial intelligence will result in an increase in “income inequality” as they estimate 20 million manufacturing jobs will be lost in the next 11 years. In China alone, there could be 14 million robots taking work currently done by humans by 2030. In the European Union, as many as two million jobs will be replaced by robots. While in the United States, more than 1.5 million workers would have lost their employment to technology by 2030. Amazon SHOCK: Retailer begins replacing humans with MACHINES

Artificial Intelligence: AI […]

Warning millions of jobs to be lost to robots by 2030 – ‘There are NO jobs for life’

Warning millions of jobs to be lost to robots by 2030 - ‘There are NO jobs for life’

According to a new study from Oxford Economics, a rise in artificial intelligence will result in an increase in “income inequality” as they estimate 20 million manufacturing jobs will be lost in the next 11 years. In China alone, there could be 14 million robots taking work currently done by humans by 2030. In the European Union, as many as two million jobs will be replaced by robots. While in the United States, more than 1.5 million workers would have lost their employment to technology by 2030. Amazon SHOCK: Retailer begins replacing humans with MACHINES

Artificial Intelligence: AI […]

Robots to take 20 million jobs, worsening inequality (study)

Robots to take 20 million jobs, worsening inequality (study)

Robots have already taken over millions of manufacturing jobs and are now gaining in services. — AFP Relaxnews Robots are expected to take over some 20 million manufacturing jobs worldwide by 2030, extending a trend of worsening social inequality while boosting overall economic output, a new study shows.

The forecast highlights growing concerns that automation and robots, while offering economic benefits, are disproportionately killing low-skill jobs and aggravating social and economic stress.

The study by Oxford Economics, a private British-based research and consulting firm, said job displacement from the rise of robots will not be evenly spread around the world, […]

Oxford Economics study on robotics and industrial automation suggests loss of 20M jobs by 2030

Oxford Economics study on robotics and industrial automation suggests loss of 20M jobs by 2030

The effect of factory automation on employment has been a concern since the start of the Industrial Revolution. There were no robots when the revolution began, however. Robots are now at the core of our fears – and hopes – as to what the continuing revolution means for the men and women who depend on manufacturing jobs to make their living.

On June 26, the consultancy firm Oxford Economics released a report titled "How robots change the world," that discussed the spread of robotics and its effect on employment. One takeaway from the report is that 20 M manufacturing jobs […]

The robots are coming for your jobs — and Oregon, Louisiana, Texas have most to lose

The robots are coming for your jobs — and Oregon, Louisiana, Texas have most to lose

Robots are revolutionizing the world economy. The robots are coming for your jobs — and workers in Oregon, Louisiana and Texas have the most to fear.

So says the latest report detailing the spread of robots in the U.S. and economies around the world.

Oxford Economics said greater use of robots will eliminate up to 20 million manufacturing jobs around the world in the next decade. Lots of service-oriented jobs largely immune from automation in the past could also be taken up by machines. Yet the rise of robots will create just as many — if not more — opportunities as […]

Robots could replace 20 million manufacturing jobs worldwide by 2030: Report

Robots could replace 20 million manufacturing jobs worldwide by 2030: Report

Robots are estimated to replace about 20 million manufacturing jobs by 2030, according to a new report.

The global stock of industrial robots has more than doubled since 2010, and the rise of robots has already had a "profound effect" on industrial employment around the world, according to a report released Wednesday by Oxford Economics , a global forecasting and quantitative analysis firm.

Each new robot introduced into the workforce displaces 1.6 manufacturing workers on average, the reports states.China is leading the rest of the world, installing one of every three new robots that comes into the job force, according to […]

Robots to replace 20 million manufacturing jobs by 2030

Robots to replace 20 million manufacturing jobs by 2030

Up to 20 million manufacturing jobs could be lost to robots across the world’s leading economies by 2030, an in-depth research project published today by Oxford Economics has found.

The report How Robots Change the World – What automation really means for jobs and productivity , found that around 1.7 million manufacturing jobs have already been lost to robots since 2000—including around 400,000 in Europe, 260,000 in the US, and 550,000 in China.

The rate of ‘robotisation’ is increasing rapidly: Since 2010, the global stock of industrial robots has more than doubled, the Oxford-based group said.If this rate holds, the global […]