Will Automation Lead to Mass Unemployment?

Will Automation Lead to Mass Unemployment?

Recent advancements in robotics and artificial intelligence have some experts worrying about the coming obsolescence of the human worker. Some are even calling for a universal basic income provided by the government for everyone, under the assumption that work will become scarce. But economists seem to have a pretty different view from the futurist and Silicon Valley types.

One of the reasons that economists are skeptical is because much of the fear that has recently been stoked in the media is familiar. Every few decades, predictions about the “end of work” have pervaded public discourse, and they’ve always been wrong. […]

Over Half of Poll Respondents Not Worried About Losing Their Jobs to Automation

Over Half of Poll Respondents Not Worried About Losing Their Jobs to Automation

On Wednesday, government IT experts at GovLoop’s online training “How Automation Creates Full-Organization Effectiveness” were pleased that over half, or 58%, of respondents said they were not worried about losing their jobs to automation.

Duane Schell, Chief Technology Officer for the state of North Dakota, said he was not surprised. “Is there some fear? Obviously yes. But that’s certainly not the objective,” Schell said, who spoke at the session in Gov’s IT Evolution Virtual Summit .

“The objective is to try and provide better services to citizens and allow employees to play to their strengths for important work,” he added.Admittedly, the […]

New technology could lead to ‘reshoring’— bucking the trend towards outsourcing which has dominated the US supply chain for decades.

New technology could lead to 'reshoring'— bucking the trend towards outsourcing which has dominated the US supply chain for decades.

The quest for high productivity with minimal capital has traditionally led US organizations to outsource manufacturing to countries such as China or Mexico, where labor and resources are cheaper, and profits, in turn, can be maximized.

Outsourcing began as a disruptive strategy as far back as the early 18th century, in line with the Industrial Revolution. Technological advancements then meant businesses could begin mass production, but this advantage came at a cost. Companies realized they could retain their structure by outsourcing labor to contractors when demands required.

In the 1970s, however, with the rise of consumer electronics, there was a wide […]

Dystopia ahead at home and world

Dystopia ahead at home and world

The rate of creation of new jobs in the more technologically sophisticated economy was much slower than before, leading to the phenomenon of jobless growth. The current problems of the Indian economy have been aggravated by the government’s refusal to accept the clear body of evidence suggesting an economic slowdown. Hence the government does not seem bothered to tackle the challenges of declining growth, rising inflation, and growing unemployment. While economic growth and inflation can still be addressed by corrective policies, unemployment is a more long-term difficulty that cannot be sorted out by appropriate macroeconomic policies alone. Unemployment is […]

Flying High: The Top Ten Airline Routes by Revenue

Flying High: The Top Ten Airline Routes by Revenue

Every day, global trends are reshaping society and the business landscape. Here are 10 insights into how the world is changing—and where we are heading. 10 Global Insights into a Transforming World from 2019

Every day, global trends are reshaping society and the business landscape.

Today’s infographic from McKinsey Global Institute (MGI) presents a snapshot of 10 insights into how the world is changing, based on its research work from 2019.How did we get here, and where are we going? A Connected World in Flux Globalization is making the world “shrink” every day, as humans and trade become increasingly connected. […]

Advanced Economies’ Missing Link

Advanced Economies’ Missing Link

As 2020 gets underway, employment in both Europe and the United States is at a record high and still rising.

The job losses from the 2008 financial crisis and subsequent recession have been all but reversed. But you wouldn’t know it from the public mood in many developed countries. With so much good economic news, why is public sentiment so gloomy?

New research by the McKinsey Global Institute takes a deeper look at the advanced economies to determine how individuals’ experiences as workers, consumers, and savers have changed over the past 20 years.There is much to cheer about, including new opportunities […]

India’s IT industry created more jobs in 2019 than a year ago

India’s IT industry created more jobs in 2019 than a year ago

Do not buy the headlines. At a time when India is struggling with an unprecedented job crisis, at least one industry has not gone slow on hiring.

The nearly $200 billion Indian IT services industry created over 200,000 new jobs in 2019, up from 180,000 a year ago, industry body Nasscom said yesterday (Feb. 12). The sector now has a total workforce of 4.36 million.

Over seven in 10 CEOs believe 2020 will be another year of strong hiring, Nasscom’s survey of over 100 IT leaders found. “This is reflected in offers the industry is already making on campuses,” said Sangeeta […]

The Impact of Security Automation on Hiring Trends

The Impact of Security Automation on Hiring Trends

51% believe that automation will lead to a loss of employment opportunities within the security field

Compiling data drawn from surveys sent out to more than a thousand IT and IT security practitioners within the UK and US, the Ponemon Institute, in collaboration with DomainTools, have recently published their insights in the report titled “Staffing the IT Security Function in the Age of Automation”. Will automation shrink IT security functions’ headcount?

According to the report, more than half of the respondents (51%) believe that automation will lead to a loss of employment opportunities within the security field. This mentality […]

Advanced Economies’ Missing Link

Advanced Economies’ Missing Link

After a decade of recovery from the 2008 financial crisis, aggregate economic indicators across the OECD are looking bright, with GDP continuing to grow and employment reaching record levels. So why is public sentiment in the advanced economies so gloomy?

AMSTERDAM – As 2020 gets underway, employment in both Europe and the United States is at a record high and still rising. The job losses from the 2008 financial crisis and subsequent recession have been all but reversed. But you wouldn’t know it from the public mood in many developed countries. With so much good economic news, why is public […]

Automation to Impact Millions of Construction Jobs, Report Says

Perhaps no industry has been hit as hard by the labor shortage as the construction industry, so it should come as no surprise that contractors would look to automation to fill the gap. The Midwestern Economic Policy Institute, along with the Project for Middle Class Renewal, dove into the issue and concluded that as many as 2.7 million construction jobs could be automated by 2057.

That level of displacement represents 49% of the America’s blue-collar construction workforce, the report says, adding that automation would also eliminate nearly 500,000 non-construction jobs in the next 37 years as well.

“Advancements in technology have […]