Workplace automation meets brain drain and ageing populations: In Eastern Europe, the ‘Fourth Industrial Revolution’ will fundamentally transform job markets in the future – yet studies suggest that the effects may have surprisingly positive effects.
Brain Drain: It’s a term that has taken some momentum across a number of countries as officials consider how to retain young talent within their countries.
From fearing that Brexit might send talent running for the bright job markets and open borders of the European Union, to employers reportedly being forced to hike up wages in Eastern Europe as a last-ditch attempt to retain staff, it’s […]
Both individual employees and their employers need to take action to prepare for a future where people increasingly work alongside machines.
Automation and artificial intelligence technologies are posing a peculiar challenge to workforce management. On the one hand, they are taking over certain types of jobs, sparking unemployment worries among workers. On the other hand, they are creating new opportunities requiring workers with specialized skills that are, unfortunately, in short supply. In numbers this reads as 5.5% of the world’s job seekers remaining unemployed, even as tens of millions of positions remain unfilled. We are staring down the barrel of […]
Source: Depositphotos To some degree, humans are quite predictable.
When faced with a change, our amygdala, the region of our brain that triggers a fight or flight response, will predictably influence human behavior. For example, when your company announces a change like consolidation or layoffs, people will react with either resistance, enthusiasm or worse, ambivalence.
Over the course of American history, we have faced many changes that were initially feared. When Henry Ford released the Model T car, fears from the loss of employment in the horse and buggy “industry” were palpable. Over time, however, enthusiasm replaced fear. Ford had created […]
One of the most contentious debates in technology is around the question of automation and jobs . At issue is whether advances in automation, specifically with regards to artificial intelligence and robotics, will spell trouble for today’s workers. This debate is played out in the media daily, and passions run deep on both sides of the issue. In the past, however, automation has created jobs and increased real wages.
A widespread concern with the current scenario is that the workers most likely to be displaced by technology lack the skills needed to do the new jobs that same technology will […]
Over the last few years, articles on the robots, algorithms and automation, taking away human jobs, have been regularly making it to the media. Usually, most of these articles paint a picture of a very bleak future, where human beings won’t find jobs that easily.
In this scenario, a large part of our lives will be devoid of meaning, given that human beings do find a lot of meaning in their work. And of course, they will have a problem of not earning enough money.
Having said this, the fear of being roboed, for the lack of a better […]
Automation’s impact on jobs is one of the most talked-about issues in financial services right now. It’s also one of the most misunderstood.
Augmentation or elimination?
The conversation most of the world is having about the impact of intelligent machines on the workplace has its roots in a paper published in 2013 by two researchers at the University of Oxford. “Technology at Work: the Future of Innovation and Employment,” by Carl Frey and Michael Osborne, analyzed hundreds of different jobs for their susceptibility to automation. Alarmingly, the authors concluded that roughly one in two jobs in America is at […]
Technology is spreading throughout the workforce, leaving many people without jobs. Getty Images967522166 Companies are adopting emerging technologies wildly throughout the industry, but for Arizona, it is hard to ignore how much it is growing.
Intel’s $7 billion chip plant is going up in Chandler and Axon is bringing talent from Silicon Valley to Scottsdale to keep up with growing demand. Meanwhile, startups are also flocking to the area as well, the San Francisco Chronicle reports.
Even though innovation is taking place throughout the state, the vast majority jobs are still in workaday service industries, such as health care, hospitality, retail […]
Automation technologies such as artificial intelligence (AI) could make more than half of all formal employment vacancies irrelevant in Brazil, according to new research.
The study by University of Brasília (UnB) employed data from a government database used to inform policies around the Brazilian labor market. The database covers 97 percent of formal employment in Brazil and includes information such as workers’ income, educational level and age.
Some 1122 occupations were split into in five groups according to the level of knowledge required to perform the various tasks. According to the research , which also incorporated evaluations from 69 local researchers […]
© lovelyday12/Shutterstock Giving out money revealed something that flew in the face of a common American philosophy.
Finland recently came out with preliminary results for its universal basic income experiment, and everyone’s talking about them. I’ve been waiting for people to bring up a certain insight found in this study, but as far as I’ve seen, no one has.
The Finnish government gave 2,000 unemployed people each a check for 560 euros a month. The Finns weren’t just being nice: the government wanted to see if giving unemployed people monthly checks, regardless of employment (universal basic income) would make […]
47 Pages Posted: 18 Mar 2017 Last revised: 28 Mar 2018 Abstract
Do industries shed jobs when they adopt new labor-saving technologies? Sometimes productivity-enhancing technology increases industry employment instead. In manufacturing, jobs grew along with productivity for a century or more; only later did productivity gains bring declining employment. What changed? Markets became saturated. While the literature on structural change provides reasons for the decline in the manufacturing share of employment, few papers can explain both the rise and subsequent fall. Using two centuries of data, a simple model of demand accurately explains the rise and fall of employment […]