Why automation is more than just a job killer

A new study by PwC suggests that AI and related technologies could result in minimal net job losses. But isn’t technology supposed to eliminate the need for human labour? How can automation occur and yet not make a dent in overall job numbers?

The answer is that automation comes in many guises. While the media is fixated on machines that substitute for humans, less attention is paid to those that augment labour. And seldom is it recognised that machines might in effect create tasks, doing work that was never done by a human previously.

At least four types of automation can […]

Is The Job Market As Good As It Was At The End Of The Clinton Administration?

Is The Job Market As Good As It Was At The End Of The Clinton Administration?

The U.S. economy is going strong nearly a decade after the Great Recession. The unemployment rate was 4.0 percent in June 2018, and fell even lower earlier in the year (3.8 percent in May 2018) before ticking up as new job seekers entered the labor force.

In fact, the job market is now better by numerous measures than it was before the Great Recession. Unemployment has only been at or below 4.0 percent twice since 1960: from 1966 to 1969, and during the economic boom at the end of the Clinton administration in 1999-2000.

Back then, on Jan. 7, 2000, Marketplace […]

Productivity Remains as Paradoxical as Ever, Despite Digital Transformation

Productivity Remains as Paradoxical as Ever, Despite Digital Transformation

The evolution of the future of work looks a lot like the past, but probably with more Uber and Deliveroo drivers, at least if you believe the Productivity Commission. In fact, it turns automation might not be the harbinger of the great employment apocalypse after all, despite a plethora of commentary and dystopian angst to the contrary.

Instead, the evidence of the last hundred years suggests that labour markets have been pretty well resilient to ‘shocks’ posed by new technologies including the upheavals caused by the arrivals of the latest global digital giants.

That’s the view of the Deputy Chair of […]

With changes in education and fair wages, technology can be a worker’s friend

With changes in education and fair wages, technology can be a worker’s friend

In a speech in Perth to the Committee for Economic Development of Australia, Karen Chester, the deputy chair of the Productivity Commission, has provided a bit of pushback on the doom and gloom scenarios about the future of work. But that does not mean things will all go smoothly. Chester argues for changes to education and greater incentives to move into work not able to be automated to ensure technology provides “not just more jobs but jobs for most”.

The easy headline – especially given numerous recent studies such as those done by the IMF – is to be fearful […]

Nicholas Carr was right IT died, but was resurrected

Nicholas Carr was right IT died, but was resurrected

Some wounds cut so deep to the heart of one’s identity as a professional, that they never completely heal. Instead, they fester for years and occasionally reopen by random bits of news. By that measure, Nicholas Carr cut into the heart of IT professionals in his seminal paper, IT Doesn’t Matter , arguing that IT had become commodified to the point that it offered little competitive advantage.

Carr was less overtly confrontational in his subsequent book , where he (or his editors) attempted to assuage professional sensitivities by turning the statement into a question. However his fundamental thesis was unchanged […]

Report From PwC Says AI Won’t Kill The Job Market, But Keep It Steady

Report From PwC Says AI Won't Kill The Job Market, But Keep It Steady

It’s impossible to say precisely how artificial intelligence will disrupt the job market, so researchers at PwC have taken a birds eye view from the top down, and pointed to the results of sweeping economic changes.

Their prediction, in a new report out Tuesday, is that it’ll all balance out in the end.

More automation in trucks, factories and elsewhere could decimate around 7 million existing jobs in the UK by 2037. But the rise in robots and machine-learning software will make the country more productive over the next two decades, growing at a 2% annual clip, to put nearly the […]

RPA Leader Automation Anywhere & Its Historic $1.8 Billion Valuation

RPA Leader Automation Anywhere & Its Historic $1.8 Billion Valuation

Robotic Arm production lines modern industrial technology. Automated production cell. After 15 years of being in the industry and curating some of the best products in robotic automation space, when this California-based RPA company raised $250 million in a fundraising round, it gained major traction for all the right reasons. This was the first ever funding that the company has raised in 15 years and secondly, it set total valuation of the company at a whopping $1.8 billion! What Is Automation Anywhere?

Providing a platform to organisations to build world-class intelligent digital workforces, Automation Anywhere’s enterprise-grade platform uses software […]

There’s No Such Thing as a Stable Career

The rapid development of automation and artificial intelligence is dramatically changing industries — and jobs — around the world.

But look back at the last century-plus of economic history, and it quickly becomes clear that such rapid technological change and disruption has long been the rule, not the exception. Categories of jobs once viewed as integral to Western economies have shrunk or essentially disappeared, only to be replaced by new ones.

Though these changes often take place on an international scale, the United States — as the world’s largest economy — has frequently been at the forefront of transformations in the […]

“Realm of Robotics” and “Human Employment”

“Realm of Robotics” and “Human Employment”

As we all know “What is robotics?”, “How are robots useful in human life?”. Robotics is the combination of mechanical, electronics & computer science engineering. In the initial days for many people, the robot is a playing thing that useful for kids to play. After that people thought it is one machine which imitates human and useful for small tasks which human can do repeatedly. Nowadays, people believing robotics may decrease the jobs but, it is wrong. A robot is just a machine under the control of the human. The robots should satisfy the human needs. Without the human […]

Fraunhofer at the International Manufacturing Technology Show IMTS 2018

Fraunhofer at the International Manufacturing Technology Show IMTS 2018

MUNICH, July 12, 2018 /PRNewswire/ — The future and prosperity of entire countries depend on the production of goods, just as many jobs in the USA and worldwide. The future of digitalized manufacturing and Industrie 4.0 rests entirely upon the ability to pool expertise and resources. Fraunhofer’s interdisciplinary systems expertise sparks the new ideas that meet the challenges of a changing world and helps create customized solutions right along the value chain. Visitors to the joint Fraunhofer booth on this year’s International Manufacturing Technology Show IMTS in Chicago can experience how a vibrant mix of new technology in the […]