Tag: consumer

Outlook for consumer spending sluggish in short term but could brighten in 2020s, as automation reduces prices

Outlook for consumer spending sluggish in short term but could brighten in 2020s, as automation reduces prices

Real consumer spending growth is expected to slow from around 1.8% in 2017 to around 1.1% in 2018, according to PwC projections in its latest UK Economic Outlook. Subsequently consumer spending is projected to edge up to 1.3% in 2019, but has the potential to return to around 2% trend growth on average in the 2020s assuming a reasonably favourable Brexit outcome and productivity gains from automation.

The report projects GDP growth across the North West of around 1.4% in 2018, revised up slightly from 1.2% projected in last years’ report, with 2019 predicted to see similar levels of growth, […]

Human impact: How machine learning is already a force for good

Human impact: How machine learning is already a force for good

Despite the concerns around artificial intelligence and machine learning, the benefits seemingly outweigh the negatives.

There is no doubt that we are in the midst of a new industrial revolution – a digital technological upheaval that will have an enduring effect on all our lives, driven in part by the rise of machine learning.

It is said that the current revolution in robotics, machine learning and automation is accelerating technological change at 10x the rate of that seen in at the turn of the 20 th Century, with 300x the scope. Our last revolution enabled the production of machines that mechanised […]

Robots aren’t stealing jobs, they’re taking our money

Robots aren’t stealing jobs, they’re taking our money

Getty Images Automation has actually created more jobs than it has eliminated over the past 50 years, according to a recent economic analysis by The Brookings Institution, which looked at the economies of 28 countries belonging to the Organization for Economic Cooperation and Development (OECD).

While acknowledging that some industries have experienced a decrease in jobs, those losses have been offset by an increase in productivity and consumer spending. Researchers found that since 1970, employment opportunities have increased by 6 percent.

There is still a downside to more robots creeping into the workforce, however: compensation. Researchers found that while overall economic […]

Why the Automation Boom Could Be Followed by a Bust

Why the Automation Boom Could Be Followed by a Bust

Theo Chapel/EyeEm/Getty Images You may not be sharing your office with a robot yet, but the next wave of automation has begun. Humanoid service robots, machine learning algorithms and autonomous logistics will replace millions of service workers in the coming decade. Experts are rushing to forecast the likely impact on jobs. But most projections overlook two powerful forces that will combine with automation to reshape the global economy by 2030: rapidly aging populations and rising inequality.

The collision of these three forces sets the stage for a 10- to 15-year economic boom followed by a bust. An aging workforce , […]

Impact of robots on employment

Архивы:

In particular, I study the impact of these emerging technologies on the workforce and the provision of health benefits, pensions, and social insurance. by Gary Robbins, The San Diego Union-Tribune / December 28, 2016. Gunda Niehaus. The Truth About Robotics: Impact of Robotics on Employment impacting employment, safety, defines an industrial robot as an automatically controlled, The impact on jobs Automation and anxiety. Economists Daron Acemoglu and Pascual Restrepo studied the US labor market between 1990 and 2007, looking at employment Results. The term "Luddite fallacy" was coined to describe the thinking that innovation would have lasting […]

Automation vs. jobs and human contact

Automation vs. jobs and human contact

Igor Faletski is CEO of Mobify, a Vancouver company working on mobile technology. In the future of retail, it is likely that bricks-and-mortar stores and online commerce will merge into a seamless and convenient entity, says Vancouver tech entrepreneur Igor Faletski.

As CEO of the Vancouver-based online-commerce platform Mobify, Faletski has had a front-row view of the trend toward using technology to create a “frictionless transaction” that maximizes convenience for consumers while minimizing the amount of time they spend waiting in line.

“The days of a retail store as a place where you have inventory, you sell it and take money […]

‘Jobs will go to robots whether we have immigration or not’: Jacob Rees-Mogg rejects claims that British businesses will turn to Artificial Intelligence after Brexit when they can’t recruit from EU

'Jobs will go to robots whether we have immigration or not': Jacob Rees-Mogg rejects claims that British businesses will turn to Artificial Intelligence after Brexit when they can't recruit from EU

Jacob Rees-Mogg has rejected claims that a potential lack of EU workers after Brexit will result in jobs being filled by artificial intelligence.

During an episode of Panorama set to air tonight the Conservative MP said that we shouldn’t be ‘frightened of mechanisation’.

He said: ‘Those jobs will go to robots whether we have immigration or not. That immigration is not the issue around technological development, technological development, artificial intelligence, mechanisation, is all happening and that will carry on.’ Jacob Rees-Mogg rejected claims that a potential lack of EU workers after Brexit will result in jobs being filled by artificial intelligence […]

Amazon And The Future Of Retail

Amazon has started to move towards bricks and mortar in recent times. Their flagship Go Store, which opened this year in Seattle, may be a sign of things to come, particularly for retailers looking to add more value for their customers

Much has been written and discussed in the media in recent times about how AI and automation are transforming businesses and the way we work. Nowhere is this more evident than with one of the biggest retail companies currently in the world, Amazon.

Of course, this particular retail giant has been at the forefront of innovation ever since it […]

Bargaining with Robots

Bargaining with Robots

Anew article faith has lately been added to Silicon Valley’s reigning doctrine, alongside the abomination of neckties and the eminence of Burning Man: the idea that everybody should receive a “universal basic income,” a substantial, regular stipend for being alive. Mark Zuckerberg and Elon Musk have championed it, and even Barack Obama, while a sitting president, suggested that such payouts may soon be necessary. The cause for this, we’re told, is automation. Robots and artificial intelligence are advancing to such a degree that millions of jobs will soon disappear, never to return. The ancient link between employment and income […]

Bargaining with Robots

Bargaining with Robots

Anew article faith has lately been added to Silicon Valley’s reigning doctrine, alongside the abomination of neckties and the eminence of Burning Man: the idea that everybody should receive a “universal basic income,” a substantial, regular stipend for being alive. Mark Zuckerberg and Elon Musk have championed it, and even Barack Obama, while a sitting president, suggested that such payouts may soon be necessary. The cause for this, we’re told, is automation. Robots and artificial intelligence are advancing to such a degree that millions of jobs will soon disappear, never to return. The ancient link between employment and income […]