Tag: employment

A.I. will cut 200,000 American bank jobs over next decade, researchers say

A.I. will cut 200,000 American bank jobs over next decade, researchers say

Wells Fargo report predicts over 200,000 jobs will be lost.

The banking industry is investing $150 billion a year into tech.

Automation technologies are becoming increasingly more sophisticated. A new era of banking is upon us. The advent and rise of A.I. technological prowess is a force to be reckoned with. No industry is safe. The latest to be in the crosshairs is the banking industry.A recent report from analysts at Wells Fargo & Co. estimates that over 200,000 jobs will be cut over the next decade, as they claim there will be the "greatest transfer from labour […]

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Wells Fargo report predicts over 200,000 jobs will be lost.

The banking industry is investing $150 billion a year into tech.

Automation technologies are becoming increasingly more sophisticated. A new era of banking is upon us. The advent and rise of A.I. technological prowess is a force to be reckoned with. No industry is safe. The latest to be in the crosshairs is the banking industry.A recent report from analysts at Wells Fargo & Co. estimates that over 200,000 jobs will be cut over the next decade, as they claim there will be the "greatest transfer from labour […]

18 Jobs That Might Disappear in the Next 25 Years

18 Jobs That Might Disappear in the Next 25 Years

Is your job in danger of becoming obsolete? If it’s on this list, you’re at risk—no matter how good you are at it.

In an interview with 60 Minutes , artificial intelligence expert and venture capitalist Kai-Fu Lee predicted that 40 percent of the world’s jobs will be replaced by robots in the next 15 to 25 years. As AI progresses, warns an Oxford study , it is inevitable that large sectors of the workforce will face mass unemployment, mainly in jobs that involve manual or repetitious labor.

Peter C. Earle, a research fellow at the Institute for Economic Research […]

Globalisation, robotics and pathways to development

Globalisation, robotics and pathways to development

Trade for Development News discussed the future of globalisation and pathways to development with Richard Baldwin, Professor of Economics at the Graduate Institute, Geneva, and Director of the Centre for Economic Policy Research. In his latest book, The Globotics Upheaval , Baldwin predicts a future globalisation shaped by digitally fuelled innovations in robotics and artificial intelligence that will be very different from the present and the past. This future raises important questions around prospects for least developed countries in a dizzying era of global disruption.

TfD: Before peering into the future, let us first take a quick step […]

Automation: Is it as Bad for Jobs as it Seems?

Automation: Is it as Bad for Jobs as it Seems?

With the power of artificial intelligence (AI) being harnessed by countless companies to automate processes, there has been a lot of talk about the job losses that could occur across industries.

While new technologies will replace manual work (think manufacturing jobs) is the future of work really as bleak as some critics claim?

As AI evolves, some believe that it will steadily and inevitably take over large sectors of the workforce, bringing mass unemployment and social unrest.Some roles are at particularly high risk of automation, particularly ones in data keeping (e.g. record clerks, office assistants), low-level customer interaction (e.g. hotel/travel […]

Cobots the new lab assistants

Cobots the new lab assistants

Sriram RD , Managing Director, AuroLab and Pradeep David , General Manager, South Asia, Universal Robots in conversation with Prathiba Raju elucidate on how automation via cobots is reshaping the medical devices and diagnostic industry

Why is it necessary for the Indian medical devices and diagnostics industry to be automated?

Sriram RD: There is a lot of work in the medical industry that needs to be automated like packaging and other activities of the same kind. Pharma industry is considered as the sector which is established in a better way and several machines remain fully automated. There is […]

Why Worker Training Programs Alone Won’t Save Coal Country

Why Worker Training Programs Alone Won’t Save Coal Country

Participants in a West Virginia worker training program offered by Coalfield Development Corporation. Bobby Bowman mined coal in West Virginia for 12 years before his employer shut down.

“I don’t think that mine will ever open again,” he said.

Bowman lives in Welch, in the south of the state, where he worked at the Pinnacle Mine, which shut down almost exactly one year ago, putting him and about 400 others out of work. After waiting a month in hopes someone would buy Pinnacle and the mine would reopen, Bowman decided to do a four-week training program offered by the United Mine […]

Making the move to mobile robots

Making the move to mobile robots

Automated guided vehicles (AGVs) have been an industry staple since 1953. However, their reliance on environmental markers and the fact they follow a pre-determined route, means AGVs are best suited to working in structured environments in the absence of humans. Here Jonathan Wilkins, director at automation equipment supplier EU Automation , discusses the rise of mobile robots and what challenges need to be overcome for their widespread uptake.

AGVs were the original mobile robot technology but advances in both machine vision and navigation means that more and more businesses are instead turning to autonomous mobile robots (AMRs). According to Research […]

African American Men To Be Hit The Hardest As Automation Takes Over Jobs Humans Once Performed

African American Men To Be Hit The Hardest As Automation Takes Over Jobs Humans Once Performed

African-American Men To Be Hit The Hardest As Automation Takes Over Jobs Humans Once Performed

As robotics and automation become even more popular, a new report claims that African-American men will suffer the most in the future when it comes to employment.

The “Future of work in Black America” report, conducted by Mckinsey & Co., discusses the issues Americans in the workforce will experience as automation replaces blue-collar positions. Interestingly enough, if the report is correct, Black men could get negatively impacted more than other demographics.This is because African-American men are said to be overrepresented in jobs that have high […]

Broward is projected as a top place for black workers, McKinsey says

Downtown Fort Lauderdale, long overlooked, is experiencing a startling resurgence as new high-rise residential projects spring up. A construction crane marks the spot where the 100 Las Olas hotel and condo tower, which will be Broward County’s tallest building, is under construction. CARL JUSTE cjuste@miamiherald.com

Broward’s black population is booming .

So it makes sense that the county is now home to one of the country’s best labor markets for African Americans, according to a new report from consulting giant McKinsey .Broward ranked eighth among areas with the most projected net job growth for African Americans, with a forecast of more […]