Levy Yeyati: ‘AI creates tensions that can lead to outsider populism’

Levy Yeyati: ‘AI creates tensions that can lead to outsider populism’

The Argentine economist spoke to the Herald about his recent book on AI’s impact on politics, economy, and society

Eduardo Levy Yeyati Eduardo Levy Yeyati is an Argentine economist, academic, and writer. In his latest book, “Automatizados” (Automated), co-authored with economist Darío Judzik, he plunges into the debate surrounding the impact of AI on the economy, jobs, and politics, as well as people’s daily lives.

Levy Yeyati received the Herald at his home in Buenos Aires. With his cat roaming in the background, he answered questions about the book’s key ideas. This interview has been edited for length and clarity. […]

Automation in employee benefits: a necessity for today’s workforce

Automation in employee benefits: a necessity for today's workforce

In a world driven by instant gratification, consumers are not the only group that expects quick and seamless experiences. Employees, HR teams, and benefits leaders do, too. From using a smartphone to pay at the gas pump to snapping up the latest fashion trends with a single click, the digital revolution has conditioned us to favor speed and efficiency in every aspect of life. This expectation seamlessly extends into the professional sphere, including having a significant impact on how the entire landscape of employee benefits. When HR adds a new hire to payroll, they want it to happen in […]

AI-Driven Jobs Promise Higher Earnings, Underlines Elon Musk

Elon Musk envisages a future shaped by artificial intelligence (AI), where work could be a choice rather than a necessity, and jobs requiring AI adoption might offer more substantial salaries. During a keynote address via webcam at the VivaTech 2024 conference in Paris, Musk painted a picture of a world where automation ensures that goods and services are plentiful, essentially making human labor optional for many.

The billionaire entrepreneur reinforced the idea that a form of ‘high universal income’ might be required to support individuals in an automated society—differentiating it from the concept of universal basic income which involves a […]

Don’t Believe the AI Hype

Don’t Believe the AI Hype

If you listen to tech industry leaders, business-sector forecasters, and much of the media, you may believe that recent advances in generative AI will soon bring extraordinary productivity benefits, revolutionizing life as we know it. Yet neither economic theory nor the data support such exuberant forecasts.

BOSTON – According to tech leaders and many pundits and academics, artificial intelligence is poised to transform the world as we know it through unprecedented productivity gains. While some believe that machines soon will do everything humans can do, ushering in a new age of boundless prosperity, other predictions are at least more grounded. […]

Technology upped in Daniel Pienaar classroom

Technology upped in Daniel Pienaar classroom

Bernd Schaberg, head of production planning at Volkswagen Group Africa, and Daniel Pienaar Technical High School principal Kola du Toit show the newly installed automation cell during the official handover OFFICIAL HANDOVER:
Image: SUPPLIED

The nature of work is evolving rapidly, with many traditional jobs being automated or augmented by technology.
To equip the next generation with the skills they need to thrive in the digital age, technology and automation needs to be introduced in the classroom.Daniel Pienaar Technical High School in Kariega typifies this transition to technology, and the inclusion of automation and robotics.Supporting the school in its […]

Educational Seminar on AI Highlights Future Career Prospects for Students

A significant educational seminar titled “Artificial Intelligence: Serving Human Thought” took place on Friday, May 17, 2024, at 11:00 a.m. The event was hosted at the Conference Center of the Sacred Metropolis in Melissatika, under the auspices of the Secondary Education Directorate of Magnesia in collaboration with Education Consultants in Natural Sciences Konstantinos Panagiotou and Evangelos Diakoumis, and the University of Thessaly.

18 students from the 1st Gymnasium attended the seminar, mostly from the school’s robotics team, the 1st Gym Robotics Team. Faculty members including Deputy Directors Euthalia Sakkelariadou and Athina Panigyritziglou were also present. Their participation aimed to […]

IMPACT OF TECHNOLOGY

IMPACT OF TECHNOLOGY

Technology has become an indispensable aspect of modern society, profoundly shaping how we live, work, communicate, and interact with the world around us. From the invention of the wheel to the advent of artificial intelligence, technological advancements have continually revolutionized human civilization, driving progress and innovation across all sectors.
In the realm of communication, technology has transformed the way we connect with one another. The evolution of the internet, social media platforms, and mobile devices has facilitated instant communication on a global scale, breaking down barriers of time and distance. People can now effortlessly share information, ideas, and experiences, […]

A rise in self-service technologies may cause a decline in our sense of community

A rise in self-service technologies may cause a decline in our sense of community

Public-facing automation, like self-service kiosks, reduce the chances we have to interact with other people. (Shutterstock) Automation, once hidden behind closed doors in factories, is increasingly moving into public view. Customers can pay for groceries or clothing at a self-checkout machine, order fast food from a touchscreen kiosk or even pickup coffee from a “ robo-café .”

These technologies, which substitute human contact for robot-based interactions, are examples of self-service technologies — innovative public-facing automation which “ enable customers to perform entire services on their own without direct assistance from employees .”

While self-service technologies have the potential to improve efficiency […]

Justin Trudeau Has a Plan to Save Jobs From Automation

Justin Trudeau Has a Plan to Save Jobs From Automation

Justin Trudeau Has a Plan to Save Jobs From Automation Canadian Prime Minister Justin Trudeau is preparing his country to deal with the challenges new technologies place on the workforce.

The rise of artificial intelligence technologies has made it easier for companies like Google goog to automatically identify cats in photos. But as cutting-edge AI technologies amplify automation, people are increasingly worried that powerful software will replace the need for human workers .

Earlier this week, Trudeau addressed the subject of automation and labor on the question-and-answer website Quora and explained some of his ideas to help Canadian citizens keep their […]

AI is coming for the professional class. Expect outrage — and fear.

Will professionals displaced by AI find new jobs in health care? (iStock) I was born in 1973, just as the American economy was going to hell — though I cannot accept all the blame. It was the twilight of the 20th-century manufacturing boom that had almost managed to compress the whole country into one vast middle class and, for reasons beyond my control, that boom was unraveling. Inflation was headed into double digits as labor productivity began to decline, economic growth swooned, unemployment rose and manufacturing employment tipped into the final descent toward its current sub-10 percent share.

This turnaround […]