Tag: employment

IIS Mumbai To Train 5,000 Students Annually In Industry 4.0 Skills

IIS Mumbai To Train 5,000 Students Annually In Industry 4.0 Skills

The training will be across a range of trades including factory automation, digital manufacturing, mechatronics, AI, data analytics & additive manufacturing, catering to both the services and manufacturing sectors In a significant step towards enhancing the employability of Indian youth for national and global opportunities, the Prime Minister Narendra Modi today inaugurated the Indian Institute of Skills (IIS) in Mumbai, which aims to cultivate an industry-ready workforce for Industry 4.0, equipped with cutting-edge technology and hands-on training across a range of trades including factory automation, digital manufacturing, mechatronics, artificial intelligence, data analytics, and additive manufacturing. catering to both the […]

AI’s threat to engineering jobs: Why critical thinking is key for engineers

AI's threat to engineering jobs: Why critical thinking is key for engineers

The rapid rise of artificial intelligence (AI) has transformed the engineering landscape, presenting both, significant challenges and promising opportunities. As automation takes over more engineering tasks, engineers face the challenge of either adapting or becoming outdated. A recent study by Great Learning highlights that 67.5% of engineers feel their jobs are negatively impacted by AI, while 87.5% believe that upskilling is vital for career security and growth amidst this technological upheaval. A recent study by Great Learning highlights that 67.5% of engineers feel their jobs are negatively impacted by AI, while 87.5% believe that upskilling is vital for career […]

World Bank Report: Cambodia at Critical Juncture as Automation, AI and Digitalization Rapidly Reshape Jobs Market in East Asia and Pacific Region

World Bank Report: Cambodia at Critical Juncture as Automation, AI and Digitalization Rapidly Reshape Jobs Market in East Asia and Pacific Region

Cambodia Investment Review

As Cambodia navigates the evolving landscape of the East Asia and Pacific (EAP) region, it faces a rapidly changing job market influenced by technological advancements and regional economic trends. The World Bank’s East Asia and Pacific Economic Update for October 2024 highlights the opportunities and challenges Cambodia confronts as it aligns its workforce with the shifting demands of the regional economy, driven by automation, artificial intelligence (AI), and digitalization.

The EAP region has consistently outperformed other global economies, with projected growth at 4.8% in 2024, compared to 3.3% for other emerging markets and developing economies (EMDEs) and […]

Redefining Jobs in the Age of AI: The Howling Mine Introduces Teleportation and Gamified Employment

Redefining Jobs in the Age of AI: The Howling Mine Introduces Teleportation and Gamified Employment

Jon NEVERDIE Jacobs unveils the Howling Mine Asteroid in Entropia Universe—a groundbreaking initiative combining teleportation, AI, and gamified employment—to redefine jobs in the age of AI by creating real-world income opportunities in the metaverse and addressing AI-driven job displacement.

LOS ANGELES, Oct. 9, 2024 /PRNewswire-PRWeb/ — As artificial intelligence continues to transform industries and threaten millions of jobs, Jon NEVERDIE Jacobs, a pioneering figure in the metaverse, presents a visionary solution for the future of work. His latest initiative, centered on the Howling Mine Asteroid in Entropia Universe, introduces gamified jobs as a scalable response to AI-driven job displacement—potentially setting […]

Manufacturing Jobs Have Recovered, But Not Everywhere

Manufacturing Jobs Have Recovered, But Not Everywhere

For the first time since the 1970s, the sector has regained all the jobs it lost in a recession.

August Benzow and Connor O’Brien, Economic Innovation Group

Oct 9, 2024 iStock.com/DSCimage Manufacturing employment in the U.S. has surpassed its pre-pandemic levels, the first time since the 1970s that the sector has regained all the jobs it lost in a recession. Yet its recovery lags behind job growth in other sectors of the economy and masks large regional disparities.In nearly half of the country’s states — and fully half of all counties — manufacturing employment has not yet rebounded to 2019 levels. […]

Tensions Rise Over Automation And Labor At U.S. Ports

Automation and labor disputes have been making waves at U.S. ports recently, reshaping the dynamics of the shipping industry. With the rise of automation and advanced technologies, tensions are brewing between port officials and labor unions representing dock workers. This conflict is sweeping across major ports, with the promise of efficiency bumping heads against the livelihoods of thousands of workers.

Historically, U.S. ports have operated with significant human labor, relying heavily on dockworkers to manage everything from loading and unloading containers to ensuring safe and efficient transit of goods. But as technological advancements push forward, the question arises: how do […]

Fed’s 2% inflation target is ‘sacrosanct’ — and here

Fed’s 2% inflation target is ‘sacrosanct’ — and here

Brendan McDermid/Reuters The News

The Federal Reserve has begun its great descent from the monetary mountain, having threaded an historically small needle: Most steep rises in interest rates since World War 2 have ended in a recession. That could still happen in the US, but for now there are enough jobs for most people who want one, inflation has cooled, borrowing costs are falling, and the economy is growing.

Austan Goolsbee is the president of the Chicago Fed. Q&A Can we declare victory on a soft landing? That’s a little misleading because it connotes a stopping point. It was […]

Unions Need to Join the 21st Century Economy

Unions Need to Join the 21st Century Economy

The old union model, built around protecting jobs, is less valuable to a modern workforce more open to change.

It is hard to be “the most pro-union president in American history,” as Joe Biden likes to claim , while also leading an effort to “reimagine and rebuild a new economy,” as he has also promised. That’s because these goals are fundamentally incompatible: America’s unions no longer fit the modern economy.

In fact, in many ways unions actually prevent the economy from evolving. The recently ended International Longshoremen’s Association strike is an illustration. The dockworkers went back to work after getting […]

Essays on Automation and Labor Markets

The evolutionary dynamics of labor markets due to technology are an undeniable aspect of capitalism. Recent theoretical and empirical literature has particularly highlighted the impact of technological change on the demand for various types of workers and the resulting shifts in workforce composition. However, the evidence is less conclusive regarding the effects of technology on overall employment and, to some extent, inequality. Establishing a clear direction of labor adjustments is challenging, as its effects depend on specific technologies, historical contexts, and prevailing institutional factors.

This thesis addresses these issues by emphasizing the distinct roles of various technologies in shaping labor […]

New technologies drive job creation despite economic headwinds

New technologies drive job creation despite economic headwinds

Technological advancements have created an estimated net 600,000 jobs in Southeast Asia over the past five years, according to the World Bank’s latest East Asia and Pacific Economic Update.

The report, released during an online conference on Tuesday, reveals that despite concerns over automation-related job losses, the adoption of industrial robots and artificial intelligence (AI) has led to unexpected employment growth in the region. "Between 2018 and 2022, the integration of robotics into manufacturing processes generated approximately 2 million skilled positions in formal employment sectors," said World Bank East Asia and Pacific chief economist Aaditya Mattoo . "While this […]