The impact of automation on employment is not the "end of work" but rather a usual structural change . Studies have shown that while there may be job displacement in certain sectors due to automation, it is compensated by job creation in other sectors, including newly created labor-intensive sectors . The introduction of robotics and AI may affect employment in "applying" sectors, but job creation in "making" sectors and complementary sectors helps to balance the overall employment shifts . Research has also highlighted the importance of technological innovation for economic progress and the need for social programs to alleviate […]
The Impact of Automation on Employment
Automation has had a significant impact on employment in recent years, and the effects are only expected to increase in the future. Automation can lead to job losses in certain industries, but it can also create new opportunities in other areas. It’s important to consider the ways that automation is changing the job market, and how we can adapt to these changes.
For the last thirty years at the very least, and possibly longer depending on the movies we’ve seen, we’ve been hearing tales of the impending collapse of the human workforce. It is […]
iStockphoto Worker shortages have led many companies to invest in machines and train the workers they do have to use advanced technology to produce more with less.
The result has been an unexpected productivity boom, which helps explain a great economic mystery: How has the world’s largest economy stayed so healthy, with brisk growth and low unemployment, despite brutally high interest rates that are intended to tame inflation but that typically cause a recession?
To economists, strong productivity growth provides an almost magical elixir. When companies roll out more efficient technology, their workers can become more productive: They increase their output […]
Artificial intelligence had a banner year in 2023, capturing headlines for generative tools that went mainstream (ChatGPT, DALL-E, and Midjourney leading the way) and the reactive efforts by world governments to assess and start reigning in what AI can and cannot do.
While these hands-on applications are likely to be the first (and in some cases only) examples most people think of when they hear “AI,” it is the application of advanced machine learning in dynamic environments that will have the most substantial long-term impact on our lives. And yet, many of the most impactful developments in this space remain […]
AI doesn’t have to be a job destroyer. It offers us the opportunity to extend expertise to a larger set of workers. SERIFA for Noema Magazine Essay Technology & the Human
David Autor is a renowned labor economist and professor of economics at the Massachusetts Institute of Technology who studies how technological change and globalization affect workers.
He is also co-director of the MIT Shaping the Future of Work Initiative and the National Bureau of Economic Research Labor Studies Program.In a recent interview with U.K. Prime Minister Rishi Sunak, Elon Musk proclaimed artificial intelligence to be “the most disruptive force […]
Here are the top 18 emerging technology trends you should watch for and make an attempt at in 2024 (Image: Admiral Casino) Technology today is evolving at a rapid pace, enabling faster change and progress, causing an acceleration of the rate of change.
However, it is not only technology trends and emerging technologies that are evolving, a lot more has changed, making IT professionals realize that their role will not stay the same in the contactless world tomorrow.
And an IT professional in 2024 will constantly be learning, unlearning, and relearning (out of necessity, if not desire).What does this mean for […]
A sad woman readers a letter while putting her hand on her face. Certain professions tend to have high unemployment rates . Technological advancements, shifts in consumer behavior, and global economic factors have all altered the employment landscape . Here are seven jobs that are susceptible to high unemployment rates, according to the U.S. Bureau of Labor Statistics. 1. Retail Salespeople
Unemployment rate : 5%
The digital transformation has significantly impacted the retail sector, with online shopping becoming the norm for consumers. This shift has led to a decrease in demand for retail salespeople as physical stores reduce their […]
Image Credits: Dexory I’ve spent a good bit of time talking about inventory on these pages. I’m always happy to spend a couple of paragraphs discussing far and away my least favorite part of working retail. The job is, in essence, data collection. As such, it’s a prime candidate for automation — and there are no shortage of startups vying for a space in that conversation.
U.K.-based Dexory today announced plans to expand into the North American market. When I spoke with the startup last year at a robotics event in Chicago, their hardware solution piqued my interest. There is, […]
EXPLAINER: Executives recommend an open mindset to adapt to new technologies Roughly 40% of global employment is exposed to artificial intelligence, according to a new analysis by the IMF. Should local organisations and employees be concerned jobs are going to be replaced by artificial intelligence (AI) as it is adopted around the globe?
Executives in the technology, manufacturing and job recruitment fields indicate the impact is unavoidable and people as well as organisations should prepare to deal with the consequences.
According to a blog post by International Monetary Fund (IMF) chief Kristalina Georgieva on Jan 14, AI will affect almost 40% […]
How is technology changing the world today?
· Follow 8 min read·Just now– Introduction How is technology changing the world today? Technology has transformed almost every aspect of our lives in the 21st century, from how we work, play, and communicate to how we learn, shop, and receive healthcare. As new technologies continue to emerge, they bring both opportunities and challenges that impact individuals, businesses, and society as a whole. This article explores some of the key ways that technology is changing the modern world across different facets of life. While technological advances provide many benefits, there […]