Tag: consumer

The Next Industrial Revolution

The Next Industrial Revolution

A “crisis of abundance” initially seems like a paradox. After all, abundance is the ultimate goal of technology and economics. But consider the early history of the electric washing machine. In the 1920s, factories churned them out in droves. (With the average output of manufacturing workers rising by a third between 1923 and 1929, making more washing machines was relatively cheap.) But as the decade ended, factories saw they were making many more than American households demanded. Companies cut back their output and laid off workers even before the stock market crashed in 1929. Indeed, some economists have said […]

Robots are after our jobs: what can we do?

Robots are after our jobs: what can we do?

Photo: The Asahi Shimbun via Getty Images Will smart automation, intelligent software bots and brainy robots take away our jobs anytime soon?

Pose this question to any Indian working in a company where unions are strong, or to any Indian who has a government job, or to the majority of Indians who work in the unorganized sector—those who drive taxis, trucks pull handcarts, hawk goods on footpaths or are employed as maids—and you will, in all probability, be looked at askance or even dismissed as an uninformed prophet of doom.

The reaction may not be surprising in emerging countries like India, […]

The new technology revolution – impact on SL

The new technology revolution - impact on SL

( Continued from yesterday )

By C.R. de Silva,
Retired World Bank Official
Artificial Intelligence (AI) -The Second Machine Age is Here.The Nobel Prize winner in behavioural economics Daniel Kahneman, author of Thinking Fast and Slow, believes that robots will actually replace CEOs, which is well beyond the limits of manual or physical labour. His view is that there is no concrete evidence that expert human cognition does better than intelligently constructed formulas, meaning algorithms conjoined with artificial intelligence(AI) to create good business judgement. So, what is AI ? It is the invention and deployment to actual situations of intelligent or […]

Chris Christie’s Minimum Wage Veto Was Based On Right-Wing Media Myths

Chris Christie’s Minimum Wage Veto Was Based On Right-Wing Media Myths

Christie Blocks New Jersey From Becoming Third State To Raise Wages To $15 Per Hour

Gov. Christie Vetoes Minimum Wage Increase Claiming It Would Hurt Businesses. Gov. Chris Christie (R-NJ) announced he would veto legislation raising the state’s minimum wage to $15 per hour in an August 30 statement, claiming businesses could not handle the wage increase. New Jersey’s legislature approved a bill in June that would gradually lift the minimum wage to $15 per hour by 2021, making it the third state to raise wages to that level after California and neighboring New York: New Jersey Governor Chris […]

The new technology revolution – impact on SL

The new technology revolution - impact on SL

By C.R. de Silva,
Retired World Bank Official

Revolutionary changes in technology, following on the heels of globalization, are changing the world economy as a result of the evolving changes in employment and resulting wage patterns in the industrialized economies. The overriding structural issues facing the advanced economies are creeping job insecurity and the need for providing productive employment and adequate salaries for affected workers to take care of their families, in the wake of progressive use of robots and also ‘artificial intelligence’ (AI). This is occurring in diverse sectors of industrialized economies with a wave of robotic machines and […]

When robots and AI come, what jobs will be left?

When robots and AI come, what jobs will be left?

Experts are divided about the jobs that will be left for humans once artificial intelligence, robotics and automation are fully deployed. If you’re prone to fretting about robots eating your job, or the jobs of your kids, get over it.

We will eventually become indistinguishable from robots, says Hiroshi Ishiguro, a professor of robotics at Osaka University. Ishiguro is a pioneer builder of human-like androids and had a cameo role in the 2009 Bruce Willis film Surrogates , in which people lived their lives through remote‑controlled surrogates from the safety of their own homes.

In about 100 years, Ishiguro says, only […]

Why is Gartner spewing such irresponsible and unsubstantiated data about “robobosses”?

Why is Gartner spewing such irresponsible and unsubstantiated data about “robobosses”?

Clients are being subjected to such a load of nonsense about the impending impact of robotics and cognitive computing on enterprise jobs, many are literally terrified. Conversing with the “head of automation” for a F500 organization today, is akin to meeting a Secret Service agent in a clandestine alleyway. These people do actually exist, but most have to conduct their work under a veil of secrecy, due to the level of discomfort and panic our robo-commentators are making in the presses.

Remember the panic about jobs getting shipped offshore? Well, that is child’s play compared to the emerging tumult of […]

“Silicon Collar” – a realistic view of automation eliminating jobs

“Silicon Collar” – a realistic view of automation eliminating jobs

Editor’s note: The buzz about robots and automation eliminating humans’ jobs is like a squeaking hinge, getting louder and causing more friction almost daily. Released this month, “Silicon Collar,” Vinnie Mirchandani’s fourth book about technology and innovation, is a must-read for employers making decisions about automation as well as for employees who fear their job will be eliminated by technology. Whatever your opinion is about technology and jobs, I believe reading this book will enhance or change your opinion.

I’ve read Vinnie’s three earlier books about technology and innovation, so I felt sure there would be important insights […]

Enemy is poor education, not mechanisation

Enemy is poor education, not mechanisation

THE replacement of people in the workplace by machines has been feared throughout history. During the Industrial Revolution, workers known as Luddites attacked and destroyed the machines that threatened their jobs.

Yet while mechanisation did bring great hardship to the cottage weavers and spinners, fears of widespread unemployment proved unfounded. Mechanisation brought about rising prosperity and demand for new products and services. Lower production costs meant lower prices, which generated greater demand for goods previously affordable only to the wealthy.

As a result, the new machines set the scene for massive increases in jobs, wages and prosperity unequalled in history.Today, the […]

Global warming and robotics: the two biggest threats to the ‘Asian Century’

Global warming and robotics: the two biggest threats to the ‘Asian Century’

A beer assembly line inside a brewery in Shenyang, Liaoning province. Such automation could keep factory jobs and provide more high-end jobs. But as China moves up the value chain – and no longer has an endless supply of cheap labour – India and the ASEAN member countries are expected to fill its role. Photo: Reuters We are living in the “Asian Century”, so called because by 2050, the region is projected to be as wealthy as Europe on a per capita basis, and hold a dominant share of global economic output.

But what if it turns out to be […]