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 […]

Does the rise of AI mean the decline of employment?

Does the rise of AI mean the decline of employment?

The American futurist Ray Kurzweil predicted a “singularity” by 2030: an exponential increase in technologies, robotics and nanotechnology that would see AI overtake human intelligence in a sort of biotechnical convergence of man and machine.

While the singularity may still be far off, the impact of technology on the world of work can hardly be disputed. But is it a good thing?

The jury’s out, says Daron Acemoglu, Professor of Economics at MIT. On one side are the technology optimists who see a bright future immeasurably enhanced by technology. On the other side are those who see AI as a threat […]

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 […]

Frere Enterprises Explores the Future of the Workforce in an Artificially Intelligent World

PETALUMA, Calif., Sept. 13, 2018 /PRNewswire/ — Every so often, a technological advancement comes about that is so earth-shattering that it changes the way entire industries work. These disruptive innovations can change not only how businesses are run, but also how people live and work. One such technology that promises to be a complete game-changer is artificial intelligence (AI). Once a mere science fiction fantasy, AI is quickly being developed to the point that it has very real-world applications. As this technology moves from the realm of fiction to reality and companies increase their use of it, the question […]

The Future of Work: Good news is hard to find – But it’s certainly there

The Future of Work: Good news is hard to find – But it’s certainly there

By Louise Maloney and John Helmer

According to a report into the future of skills employment in 2030 (a collaboration between Nesta, Pearson and Oxford Martin Business School) 70% of people are currently in jobs that have an uncertain future. This might sound unsettling, but it doesn’t mean these jobs will necessarily disappear. Roles could adapt to future demand through occupation redesign and training, and new jobs will be created (e.g. immersive experience designer), which are already being minted as we speak. In fact, the report predicts that, overall, the US and UK workforces will continue to grow through […]

Artificial intelligence and automation could make hundreds of thousands of jobs in West Yorkshire ‘obsolete’ – according to report

Artificial intelligence and automation could make hundreds of thousands of jobs in West Yorkshire 'obsolete' - according to report

John Baruch is attempting to get the next generation ready for the “fourth industrial revolution” ARTIFICIAL intelligence and the increase in robotics could mean a third of jobs in West Yorkshire would be obsolete in just two decades’ time.

A report put together by the West Yorkshire Combined Authority warns more than 400,000 jobs in the region are at risk of advances in technology and automation.

The report, which will go before members of the authority’s employment and skills panel today, claims low-skilled and manual jobs could be most at risk from automation.It suggests the changes don’t necessarily mean a loss […]

How robots are taking over YOUR job across West Yorkshire

How robots are taking over YOUR job across West Yorkshire

l More than a third of jobs in West Yorkshire could be obsolete in just two decades’ time.

That’s the verdict from a report put together by the West Yorkshire Combined Authority, which warns more than 400,000 jobs in the region are at risk of advances in technology and automation.

The report, which will go before members of the authority’s employment and skills panel today (Sept 11), claims low-skilled and manual jobs could be most at risk from automation. It suggests the changes don’t necessarily mean a loss of jobs overall, but warns they “could worsen inequality,” with “lower […]

The rise of AI is mirroring the Industrial Revolution in more ways than one

The rise of AI is mirroring the Industrial Revolution in more ways than one

The maxim “the future is here, it’s just not equally distributed” could soon hold new meaning after a recent study found AI is set to significantly contribute to GDP – but only for those countries that can implement it early.

The research, conducted by the McKinsey Institute , aimed to forecast the global impact of AI. Researchers analysed current trends in AI development and deployment around the world and predicted the technology has the potential to contribute an additional $13 trillion to the global economy by 2030. This translates to a 16 per cent increase on today’s cumulative […]