The recent surge in AI development has a twin effect on the industry — on the one hand it led to deployment of AI-based technology, and on the other it also sparked fear of job losses, due to rising automation. When seen in the Indian context, jobs siphoned off by automation has become an important issue in India’s tech circles. The Indian government led by PM Modi has fully embraced AI but it remains to be seen how it plans to assist the population of India in the age of automation.
Now, machine learning researcher Michael Osborne is looking at […]
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?
Driverless haul trucks rumble over trails at Rio Tinto’s Mine of the Future in Western Australia. Ned Ludd never drove a truck. They didn’t exist in 1779 when, folklore says, he smashed a weaving machine in a “fit of passion.” This the young Englishman did after being beaten by his boss for idleness, or simply being told by his father, also a weaver, to “square his needles”—the accounts of the long-ago event vary. Indeed, Ludd the man may never have existed, but in the next century, textile workers who protested the introduction of job-killing machinery, sabotaging a lot of […]
The WEF has a prediction that should get people’s attention because of the rapid entry of smart machines into the workplace. According to the experts, the world of employment is about to experience a revolution because of computers, robots and automation, and humans will find themselves priced out by machines that are cheaper and don’t require lunch breaks.
See the full report here: The Future of Jobs Report 2018 .
The report says that millions of new jobs will be created to replace the ones lost, so not to worry, except that those new jobs will require technical training. Retraining employees […]
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 […]
An influx of artificial intelligence is helping address this deficiency – but don’t think robots behind the counter stealing jobs (although ANZ’s own Jamie is pretty cool , even if we do say ourselves). Think simpler – it’s likely, particularly in financial services, AI use will appear largely in the form of things like digital assistants , tools to manage personal finances and automated decisions and offers.
"Jobs will be created which do not exist today as work moves up the value chain.”
Indeed, what goes unreported is the kind of skills workplaces will need when the changes wrought […]
"Change is here, and there is no way to get around the fourth industrial revolution in finance," Kathryn Sharrett, CFO of Financial Services Compensation Scheme, began as she opened her presentation at the CFO Rising Europe Summit.
"This creates a problem we call the finance talent gap. So, what do we do now and what do we do in the future? How can we prepare for this disruption in terms of the skills that we may need?"
She adds "we’ve gone from being in positions that revolve around preparation, figures and excel spreadsheets – adding up on calculations in that typical […]
In the early days of artificial intelligence (AI) and robotics, people didn’t think the technologies could achieve much.
Over time, as the technologies matured and proved their capabilities, workers and executives have been concerned with how these could ‘automate’ tasks and destroy human jobs — and that’s been the focus of numerous studies, irrespective of which industry or country it reviewed. Will autonomous trucking put an end to trucking jobs? However, according to PwC Chief Economist John Hawksworth, just because a job has the technical potential to be automated does not mean it definitely will be.
“There is a variety of […]
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 […]
In a global study carried out by McKinsey & Company, 72% of deans and university leaders said they prepare their graduates for the workforce. In contrast, only 42% of employers and 44% of students thought the same (Mourshed et al. 2013). The mismatch between universities and the world of work is real and it is huge.
In a world where the pace of technological change is accelerating, trying to guess what the future trends will be seems impossible. According to a University of Oxford study, 47% of all the occupations in the US could be lost to automation in the […]