Tag: consumer

Will automation destroy more jobs than it creates?

Will automation destroy more jobs than it creates?

Economists and entrepreneurs say the advent of robots and automation will destroy more jobs than it will create—leading to a world where computers do most of the work and humans do… something else. Some critics say experts are exaggerating when they say the future will be jobless. Automation will replace some tasks, but it will also create new opportunities. The cost of goods will go down. People will still need to program the robots too. What do you think will happen? 🤖

Unlike technological revolutions in the past, automation threatens to replace humans entirely. Already, fast food chains are […]

Will automation destroy more jobs than it creates?

Economists and entrepreneurs say the advent of robots and automation will destroy more jobs than it will create—leading to a world where computers do most of the work and humans do… something else. Some critics say experts are exaggerating when they say the future will be jobless. Automation will replace some tasks, but it will also create new opportunities. The cost of goods will go down. People will still need to program the robots too. What do you think will happen? 🤖

Unlike technological revolutions in the past, automation threatens to replace humans entirely. Already, fast food chains are […]

Jobs – Automation Annihilation

Jobs – Automation Annihilation

By Garret Galland. Originally published at ValueWalk .

In January, 19 US states raised their respective minimum wages. Washington was among the most generous, hiking by $1.53 (bringing it to $11 per hour). Arizona got an increase of $1.95—their “bottom rung” now sits at $10 per hour.

In all, 4.3 million workers are slated to receive a hike as they earn less than the new minimum wage in their respective states. Well, that’s what’s meant to happen. Judging by the fallout from recent hikes, it seems things aren’t going according to plan. Minimum Wage Massacre DrSJS / Pixabay In February, Wendy’s […]

The robots are coming – but not for me

The robots are coming – but not for me

How to tango with a robot

We’re all familiar with the predictions: a new wave of bots, AI, and automated technologies are coming. They will sweep into widespread use and when they strike, the upheaval and disruption will displace millions of human workers from their jobs.

Study after study predicts this, some with very alarming figures. Research from Oxford University and Deloitte states that 35% of UK jobs are at risk of being lost to automation within the next two decades. And according to many experts, the future of the common man under the fourth industrial revolution looks bleak. As […]

The Social Machine

The Social Machine

Ford cars roll off the assembly line in Flat Rock, Mich., in 2015. (Reuters photo: Rebecca Cook) Jobs are a means, not an end.

Funny thing about American manufacturing: The good news about what’s happening at American factories often sounds like bad news to politicians.

American factories are one of the wonders of the world, and, in spite of what President Donald Trump, Senator Bernie Sanders, and other lightly informed populists claim, they are humming. U.S. manufacturing output is about 68 percent higher today in real terms (meaning inflation-adjusted terms) than it was before NAFTA was enacted; manufacturing output […]

Experts debate technology’s impact on job losses

Experts debate technology's impact on job losses

The question seems obvious based on what we read, see and hear almost daily in modern pop culture.

However, according to James Bessen, a law professor at Boston University, that assumption may not be correct.

“I look at detailed occupations since 1980 to explore whether computers are related to job losses or other sources of wage inequality,” Bessen writes in the abstract of his paper. “Occupations that use computers grow faster, not slower. This is true even for highly routine and mid-wage occupations. Estimates reject computer automation as a source of significant overall job losses.”People are confusing automating a task with […]

The Robots are Coming, your Job is at Risk

The Robots are Coming, your Job is at Risk

Development & Aid , Featured , Global , Globalisation , Headlines , Labour | Opinion

Martin Khor is Executive Director of the South Centre, a think tank for developing countries, based in Geneva. Credit: John Greenfield/Flickr PENANG, Mar 15 2017 (IPS) – Last year Uber started testing driver-less cars, with humans inside to make corrections in case something goes wrong. If the tests go well, Uber will presumably replace their present army of drivers with fleets of the new cars.

Some personally owned cars can already do automatic parking. Is it a matter of time before Uber, taxi and personal […]

America may miss out on the next industrial revolution

America may miss out on the next industrial revolution

A robotic arm manufactured by KUKA, a German industrial robotics company, installing the cockpit section of a Mercedes Benz S-Class. Robots are inevitably going to automate millions of jobs in the US and around the world, but there’s an even more complex scenario on the horizon, said roboticist Matt Rendall. In a talk Tuesday at SXSW, Rendall painted a picture of the future of robotic job displacement that focused less on automation and more on the realistic ways in which the robotics industry will reshape global manufacturing.

The takeaway was that America, which has outsourced much of its manufacturing and […]

Hayward: Burger-Flipping Robots Know the True Minimum Wage Is Always Zero

Hayward: Burger-Flipping Robots Know the True Minimum Wage Is Always Zero

I thought the grim lesson of the burger-flipping robots was so obvious it barely deserved comment, but comment I did… and soon discovered plenty of people do need this lesson explained to them:

BurgerFlipBot calculates that the true minimum wage is, always has been, and always will be ZERO. https://t.co/ZT3SaDiyZJ It’s time for a little primer in BurgerFlipRobot economics, with a little help from the friendly (and not-so-friendly) folks in my Twitter stream. I decided not to reprint any Tweet except my own, because I don’t wish to embarrass anyone. Quite the contrary — I think even my more […]

What Jobs will Robots and AI Do in The Future?

What Jobs will Robots and AI Do in The Future?

If you work in finance these days, things are probably not as exciting as they used to be. Gone are the days of snorting cocaine in strip clubs at 4:00AM on a Tuesday morning. Nowadays you’re more likely to have a late night trying to figure out that elusive bug that’s keeping your trade automation program from going live. The one thing that will never change in finance though is the effect that breaking news has on the stock market. Any time new macro economic information is made available, the entire market reacts as a result. One often cited […]