Tag: consumer

AI should improve our well-being, not just our productivity

AI should improve our well-being, not just our productivity

Design by Hailey Kim. In 1930, John Maynard Keynes, often called the “father of macroeconomics,” predicted that in the next century, people’s increased ability to meet their basic needs would lower the average work week to 15 hours. He could not have been more wrong. Although Americans today work relatively fewer hours than their parents did, they still work hundreds of hours more per day than adults in other developed countries.

The computer and internet boom of the 1990s was followed by increased consumer spending, not by people opting for more leisure. Efficiency improvements, which could have been used to […]

Is AI going to take away jobs?

Is AI going to take away jobs?

Fear-mongering sells much like how popular science highlights the gravitational pull of black holes to draw attention to the topic. If a black hole gets close to the earth, the earth gets sucked into it. Spooky. What they don’t tell you is that there are objects called white dwarfs (remnant cores of dead stars), which are 100 times more common than black holes and can easily do to earth what black holes would do. They are just not as glamorous as black holes. Likewise, there has been a lot of fear-mongering around the development of AI, especially around its […]

Blockchain Technology, robotics & automation transforming the energy industry

Blockchain Technology, robotics & automation transforming the energy industry

Blockchain technology has the potential to revolutionise the energy industry by enabling secure and transparent transactions, improving grid management, and enhancing renewable energy distribution.

The energy industry is currently undergoing a transition from a centralised model to a more decentralised one. Blockchain technology can help facilitate this transition by providing a decentralised ledger that records and verifies all energy transactions in real-time, shared across a network of computers. This technology can also automate energy transactions through smart contracts, making it easier to engage in a transactive energy system.

Blockchain can also help facilitate communication between distributed energy resources like solar panels, […]

World Consumer Day 2024: Fair and Responsible AI for Consumers -The Case for Automation and Engineering

By Sarath Wijesinghe President’s Counsel (LL.M (UCL London)), former Ambassador to UAE and Israel, former Chairman of the Consumer Affairs Authority, President of the Lanka Ambassador’s Forum – United Kingdom, Solicitor in England and Wales

In the era of rapid technological advancement, Artificial Intelligence (AI) has become an important force driving innovation across various sectors. As we celebrate World Consumer Rights Day 2024, the theme “Fair and Responsible AI for Consumers” urges us to reflect on the ethical and societal implications of AI, particularly in automation, such as automated vehicles, and engineering.
AI’s integration into automation and engineering […]

Electronics in agriculture

Electronics in agriculture

Smart farming makes use of modern technologies. Source: Adobe Stock The incorporation of electronics has become a game-changer in the ever-evolving world of agriculture, causing a paradigm shift in long-established farming methods and accelerating long-term growth. A more resilient and sustainable future for global food production is within reach because of the marriage of electronics with agriculture, which includes innovations such as precision farming, the internet of things (IoT), biotechnology integration and advanced data analytics. This is more than just a trend; it’s a fundamental shift. This article explores how technology is changing the way we grow and harvest […]

Southern California’s huge logistics industry faces a backlash over wages and pollution

Southern California’s huge logistics industry faces a backlash over wages and pollution

Automated electric trucks transport shipping container at the Long Beach Container Terminal in Long Beach on Feb. 9, 2023. Photo by Mike Blake, Reuters In summary

In recent decades, the logistics industry has flourished in Southern California, but there’s a backlash over the industry’s low wages and the pollution it creates.

A half-century ago, Southern California’s financial, political and civic leaders made a fateful decision that the region’s economic future could be assured by expanding its nascent logistics industry, centered on the twin ports of Los Angeles and Long Beach.Countless billions of public and private dollars went into expanding the […]

Uniqlo Transforms Tokyo Warehouse: 90% Staff Cut, 24/7 Robotics Operation

Uniqlo Transforms Tokyo Warehouse: 90% Staff Cut, 24/7 Robotics Operation

Uniqlo Transforms Tokyo Warehouse: 90% Staff Cut, 24/7 Robotics Operation In a significant shift towards automation, Uniqlo has partnered with Daifuku to overhaul its Ariake district warehouse in Tokyo, introducing robots to inspect and sort clothing. This move has resulted in a dramatic 90% reduction in staff, enabling the facility to operate around the clock. The initiative reflects a broader trend in the logistics and warehousing sector, where automation is increasingly seen as a solution to labor shortages, rising costs, and the demand for higher efficiency. The Dawn of Robotic Warehousing

Uniqlo’s recent renovation of its Ariake warehouse marks […]

Common fallacies impede sound policy

Those who advocate rational public policy, based on a thorough understanding of the principles of human action and the benefits of voluntary exchange, are bound to be disappointed much of the time.

That’s not an argument against fighting for freedom . But it is an argument for realism and for keeping expectations low — so you can be pleasantly surprised when policymakers resist political temptations and make good decisions, whether they be here in North Carolina or in Washington, DC. (Just kidding about the latter possibility.)

Why do policymakers so often get things wrong? Bryan Caplan, an economist at George Mason […]

Automation Isn’t the Biggest Threat to US Factory Jobs

Automation Isn't the Biggest Threat to US Factory Jobs

For the past few decades, there has been an ongoing debate about the rise of automation in the industrial sector, and its potential impact on American manufacturing jobs. Many experts argue that as robots and AI become more advanced, they will inevitably replace many human workers on factory floors across the country. While the growing capabilities of automated systems do pose a legitimate disruption risk to some occupations, this view overlooks several important nuances regarding the true dynamics reshaping factory employment in the US. The relationship between automation and jobs is far more complex than simply machines displacing people […]

After White-Collar Jobs OpenAI Goes After Blue-Collar Jobs; The Race For Humanoid Robots And The Age Of AGI; How Critical Will It Be In Balancing Employment Opportunities In The Age Of AI

After White-Collar Jobs OpenAI Goes After Blue-Collar Jobs; The Race For Humanoid Robots And The Age Of AGI; How Critical Will It Be In Balancing Employment Opportunities In The Age Of AI

In pursuing Artificial General Intelligence (AGI), robotics has emerged as a crucial frontier, with companies vying to develop the ultimate humanoid robot. OpenAI , known for its advancements in AI research, has rekindled its interest in robotics with Figure-01, a humanoid robot that promises to push the boundaries of automation.

CEO Adcock believes that Figure holds the key to automating complex tasks, stating that the demand for such solutions is virtually limitless and with recent updates showcasing Figure brewing coffee, the robot demonstrates a level of dexterity and adaptability learned from observing human actions; thus the possibilities are endless.

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