Tag: consumer

Robotics in Indian manufacturing: Examine how robotics can boost productivity while preserving jobs

Robotics in Indian manufacturing: Examine how robotics can boost productivity while preserving jobs

India’s manufacturing sector is on a promising path of growth, bolstered by significant investments and strategic initiatives. According to the India Brand Equity Foundation (IBEF), the Gross Value Added (GVA) for the manufacturing sector was around USD 110.48 billion in the first quarter of FY24. The “Make in India” initiative is a key driver in this progress, aiming to boost the sector through advancements in automation, robotics, and digital technologies, positioning India as to global manufacturing hub. As the sector continues to expand, it is set to strengthen India’s role in the global manufacturing arena and generate a plethora […]

What’s led to a greater loss of American jobs, outsourcing or automation?

Automation. Outsourcing is a net gain for domestic employment.

As companies are able to get rid of relatively low skill jobs stateside, they can then increase their labor force of “high skill” jobs.

Let’s say I have to pay a line worker in San Francisco $40 an hour, but if I ship that assembly job to China, I can pay $2 an hour. That savings allows me to scale up operations.Since I’ve been able to dramatically lower the price, I can pass that savings on, making player computers in your pocket and affordable every day device.Because cell phones are now easily […]

Tesla May Replace Employees with Optimus Humanoid Robots

Tesla May Replace Employees with Optimus Humanoid Robots

Elon Musk’s Tesla is on a mission to revolutionize transportation with electric vehicles. But the company’s ambitions stretch far beyond the road. Tesla’s Optimus, a humanoid robot unveiled at the company’s AI Day in 2021, has ignited a fervent debate about the future of work. The prospect of robots replacing humans in various industries is no longer a distant sci-fi fantasy but a looming reality. You might also like

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Optimus: A Humanoid Workforce Designed to handle tasks that are “dangerous, repetitive, or boring,” Optimus […]

Increasing the Minimum Wage Comes at Too High a Price for Workers

Increasing the Minimum Wage Comes at Too High a Price for Workers

COMMENTARY BY Senior Research Fellow, Roe Institute

Rachel researches and analyzes taxes, Social Security, disability insurance, and pensions to promote economic growth. A view of an ordering kiosk at The Habit Burger Grill on April 11, 2024 in San Rafael, California. Justin Sullivan / Getty Images Key Takeaways

Some of the hardest hit among the millions of people impacted by job losses or reduced hours following minimum wage increases are fast-food workers.High minimum-wage laws cut off the bottom rung of the career ladder, effectively pricing the least-advantaged workers out of employment.Instead of wage mandates, policymakers should help workers achieve real […]

7 Consequences of Autonomous Trucks in the Supply Chain

7 Consequences of Autonomous Trucks in the Supply Chain

by Zac Amos July 19th, 2024 Too Long; Didn’t Read

Self-driving cars are a difficult challenge to create, but autonomous long-haul trucks could arrive sooner. On the positive side, they’ll improve safety and shipping speeds, help reduce worker shortages, and boost supply chain sustainability. Unfortunately, there will also be regulatory complications, job losses, and safety challenges as self-driving AI develops. featured image – 7 Consequences of Autonomous Trucks in the Supply Chain 1x

Read by Dr. One Audio Presented by Self-driving cars always seem to be just out of reach. Technology improves and people make bold claims about when they […]

More teens are working. Here’s why a job is ‘becoming more compelling’ for them, economist says

More teens are working. Here’s why a job is ‘becoming more compelling’ for them, economist says

A server scooping ice cream at the Freddo Gelato Shop in Miami Beach, Florida.

Jeff Greenberg | Universal Images Group | Getty Images

Teen summer jobs are back.Last month, more than 5.7 million 16- to 19-year-olds participated in the labor market , Bureau of Labor Statistics data shows, marking the highest teen employment rate in June since 2007. While data shows that this is still far below the more than 8 million teen workers recorded in the late ’70s, the figures show that teen employment has steadily grown over the past decade.Economists say more teens have been drawn to the workforce […]

Robots can’t replace human intelligence, Amazon lead says

Robots can’t replace human intelligence, Amazon lead says

Amazon Robots Spotted Waiting to Cross Busy NYC Street Beloved Aussie cartoon Bluey provides an important message about the morals of robotics and its impact on humanity, according to one of the industry’s leading minds.

Mikell Taylor, Amazon Robotics’ principal tech program manager, says the machines we see in science fiction films are a long way from the autonomous creations that are found in workplaces around the world.

She told news.com.au the lifelike robots of the silver screen were an exploration of our psyche and have in some ways shown engineers “what not to do” – instead of laying a blueprint […]

The growing time tax of the digital global economy

The growing time tax of the digital global economy

Sun, Jul 14, 2024 page9 The rise of generative AI and other digital technologies has enabled tech companies to offload tasks from their employees to users

Despite the rapid proliferation of artificial intelligence (AI) chatbots and virtual assistants, finding an answer to a question that a company’s software is not programmed to address can be frustrating. Searching through countless options on price-comparison Web sites for the best insurance policy or airline ticket can be equally exhausting. Yet, we tend to view this “time tax” as the cost of doing business in today’s digitized global economy.

To be sure, we […]

6 Ways California’s New Minimum Wage for Fast Food Workers Will Hurt Franchises — And Consumers Discover how California’s new minimum wage law is transforming the fast food industry, impacting franchise owners, employees, and the broader economy.

6 Ways California's New Minimum Wage for Fast Food Workers Will Hurt Franchises — And Consumers Discover how California's new minimum wage law is transforming the fast food industry, impacting franchise owners, employees, and the broader economy.

Key Takeaways

The new minimum wage law significantly raises operational costs for fast food franchises, which already operate on slim profit margins.

To manage increased labor costs, many franchises are raising menu prices and reducing their workforce. In response to the wage hike, some franchises are investing in automation to reduce reliance on human labor. California’s recent legislation to increase the minimum wage for fast food workers to $20 has stirred significant debate. While the intent behind the law is to improve the livelihoods of employees in one of the state’s largest industries, it has […]

China’s Tech Leap & Its Unforeseen Future: A Peek into the Future of Tech

China's Tech Leap & Its Unforeseen Future: A Peek into the Future of Tech

China’s Tech Leap Future Glimpse Opening of a 24/7 robot factory in China raises several important issues and is a remarkable development. This innovative factory runs entirely on its own, using advanced robots and artificial intelligence to oversee production operations without the need for human participation. This signals a turning point in the manufacturing industry. The topic that needs to be addressed is how humanity will fare if robots handle everything in the future.

Effects on Human Race and Employment

The development of fully automated, 24/7 robot factories will immensely impact employment and the human race. Loss of employment […]