Mechanical engineering trainees We’ve all heard that robots are going to take our jobs, but research from the World Economic Forum has some good news: they’re going to create more jobs than they displace.
The Swiss non-profit foundation, which is best known for holding an annual meeting of political and business leaders at Davos, predicts the rapid evolution of machines and algorithms in the workplace will lead to the loss of millions of jobs.
Within seven years, by 2025, machines will perform more current work tasks than humans, compared to 71 per cent being performed by humans today.Between now and 2022, […]
Singapore’s Changi Airport is testing and developing robots in Terminal Four, its smallest and newest facility, in order to unleash them in Terminal Five, slated to open at the end of 2030. This would make the upcoming gigantic Terminal Five, of passenger capacity 50 million a year, one of the largest and most automated airport buildings in the world, Bloomberg reported, .Government-controlled companies and the civil aviation authority have already come together to test robots in Terminal Four.Plans for extensive automation inside the airport result from Singapore’s ageing population, their unwillingness to work […]
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 […]
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 […]
Image: AP The advancement of robotics and artificial intelligence will make 75 million jobs obsolete by the year 2022, according to a new report. Sounds dreadful, but the same report goes on to predict the creation of 133 million new jobs over the same period.
There’s a lot of uncertainty right now about the future of work, and how emerging technologies will change the nature and availability of jobs in the coming years. It’s tempting and wholly reasonable to believe, as so many do , that technological advances, particularly in the areas of robotics and AI, will result in massive […]
The fourth industrial revolution is upon us and the machines are coming to take your job: but which industries are going to get hit hardest when Artificial Intelligence comes of age?
Nobody knows, is the truthful answer. We know that machine learning will change the world and automation will kill anywhere between 20% and two-thirds of the jobs on the open market.
Blockchain technology is accelerating AI research, to the extent that there are even companies like DeepBrain Chain that specialize in nothing but providing computing resources to AI developers.Former Bank of England chief executive Antony Jenkins suggests half of customer […]
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, […]
If there is one area that Robotics Process Outsourcing affected widely is near and offshore jobs. Robotic process automation (RPA) is applied to a variety of business processes by automating rule-based monotonous tasks and bridging temporary gaps. Basically, the RPA engines are loaded with highly-specific process knowledge which enables rules-based automation. Today, robotics lifecycle is automating almost half the traditional back-office functions which are being augmented with automation and are offsetting the cost of locations, noted a Deloitte Financial Services paper. So far, the early stages of adoption have shown businesses great benefits. According to recent statistics, robotic automation […]
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 […]
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 […]