Category: Automation Impact on Jobs

Robots are killing jobs after all

Robots are killing jobs after all

So much for the utopian techno future

Industrial robots are depressing wages and increasing unemployment, according to a paper published by the National Bureau of Economic Research, a private, non-profit, non-partisan research organization.

Written by MIT economists Daron Acemoglu and Pascual Restrepo, " Robots and Jobs: Evidence from US Labor Markets " [subscription required] appears only days after Treasury Secretary Steve Mnuchin dismissed the possibility of automated systems taking jobs from people, saying , "It’s not even on our radar screen."Similar to the cosmological conundrum about whether the universe will continue expanding indefinitely or collapse upon itself, the impact of […]

The Rise of the Robots, Reviewed

The Rise of the Robots, Reviewed

Editor’s Note: This is the first in a series of reviews of books, written anytime, anyplace, fiction or nonfiction, that help us to understand contemporary trends in the city. Got an idea for a book that you think puts Dublin in context? Email us at arts@dublininquirer.com.

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At the Spar on Camden Street, a machine makes my coffee. At the Tesco up the way, another machine sells me my groceries. At the Bank of Ireland, a little further on, I can withdraw or deposit money through another machine.All these tasks were once performed by people, who were paid […]

On Automated Future, Treasury Secretary is ‘Out of Touch’

On Automated Future, Treasury Secretary is 'Out of Touch'

Last week, President Donald Trump’s New Treasury Secretary, Steven Mnuchin, said he’s “not worried at all” about automation , stirring up a lot of controversy. Then, on Tuesday, in an interview on CNBC, Democratic Powerbroker and entrepreneur, also neighbor to Trump at Mar-a-Lago in Florida, Jeff Greene explained his world views, saying that Mnunchin is “completely out of touch with reality.”

“I think he’s sort of missing it on the business thing,” Greene said. “I mean, 88 percent of manufacturing jobs were lost because of technology. So, to build a wall and keep Mexicans or Latin Americans out of the […]

Here’s How Much Robots Have Lowered Humans’ Wages in US

Here's How Much Robots Have Lowered Humans' Wages in US

A new study says robots have potentially killed more than 600,000 jobs in the US. (AP Photo/Jens Meyer) (Newser) – It turns out the robot uprising was a whole lot less The Terminator and a whole lot more Roger & Me . A study from economists at MIT and Boston University published this month by the National Bureau of Economic Research attempts to quantify the effects of industrial automation on American employment. It found that between 1993 and 2007, each robot added to the workforce reduced employment in the local commuting area by three to six jobs, Quartz reports. […]

Future of industry: Automation is going to disrupt employment | The National

Future of industry: Automation is going to disrupt employment | The National

Will robots take over your job? Although technology has long affected the labour force, recent advances in artificial intelligence and robotics are heightening concerns about automation replacing a growing number of occupations, including highly skilled or “knowledge-based” jobs.
Just a few examples: self-driving technology may eliminate the need for taxi, Uber and lorry drivers; algorithms are playing a growing role in journalism; robots are informing consumers as mall greeters, and medicine is adapting robotic surgery and artificial intelligence to detect cancer and heart conditions.
Of 700 occupations in the United States, 47 per cent are at “high risk” from […]

Tech will lead to new sub-prime crunch

Tech will lead to new sub-prime crunch

In October 2016, two leading P2P platforms in the U.S. — Lending Club and Prosper — announced a new increase in interest rates for lower-grade loans. The decision was made in order to sustain investor demand, as the model platforms are operating under challenges faced during the last months due to compliance issues with Lending Club and the general turbulence of the P2P lending industry.

However, keeping the investor demand stable is not the only reason for recent changes — as Lending Club announced, delinquencies are growing, especially when it comes to high-risk loans.

October 2016 was not the first time […]

Treasury’s Mnuchin is ‘out of touch with reality’ on A.I.’s job-destroying potential, billionaire says

Treasury's Mnuchin is 'out of touch with reality' on A.I.'s job-destroying potential, billionaire says

The U.S. workforce is about to undergo "unprecedented job destruction" as computers and robots get smarter, billionaire Jeff Greene told CNBC on Tuesday.

The founder of The Greene Institute, which holds an annual conference focusing on disruptive forces in the economy, took Treasury Secretary Steven Mnuchin to task for recently saying he’s not worried about artificial intelligence displacing jobs for at least 50 to 100 years.

On "Squawk Box," Greene said Mnuchin is "completely out of touch with reality."Greene argued that AI has the potential decimate the white-collar workforce of the future in a similar way automated factories replaced blue-collar workers […]

Robots do destroy jobs and lower wages, says new study

Robots do destroy jobs and lower wages, says new study

Photo by Bill Puglianov / Getty Images The fear that automation in the form of robots or artificial intelligence is going to destroy jobs is widespread. But it can be difficult to gauge just how serious to take the threat. Different reports offer different estimations of how many jobs will be lost, while politicians and economists argue that technology creates as many jobs as it destroys, maintaining an equilibrium in employment over the long run.

But is this really true? A new study from the National Bureau of Economic Research aims to add some solid numbers to the debate, looking […]

A simple way to see why Trump’s climate order won’t bring back many coal jobs

A simple way to see why Trump’s climate order won’t bring back many coal jobs

A train loaded with coal in Williamson, West Virginia. One of the big justifications the Trump administration is using to dismantle US climate policies is that these moves would help reverse the collapse of the coal industry and bring back mining jobs.

“Will it bring back coal jobs? I think absolutely it will,” EPA Administrator Scott Pruitt said on Sunday, of Trump’s new executive order.

I’ve explained in the past why this is probably wrong — coal mining employment is in decline for a wide variety of reasons: automation of mining; competition from cheap natural gas in the power sector; collapsing […]

‘Robots’ could take 57,000 jobs in Glasgow over the next 20 years

'Robots' could take 57,000 jobs in Glasgow over the next 20 years

(Photo: Facebook) Glasgow has always been known being a driving force in developing new technologies.

But can technology ever go too far?

New figures might argue that case – with around 57,000 job losses predicted for Glasgow over the next 20 years due to the development of automation and robotics.Automation is one of the world’s fastest growing industries and cities like Glasgow are set to feel the biggest impact.City centre auditors, Deloitte have found that, across UK, 2,168,000 jobs in the wholesale and retail sector have a high chance of being automated in the next twenty years- that’s 59 percent of […]