Tag: employment

How to think about automation

How to think about automation

Everyday, both in print and digital media, scary stories emerge about robots killing jobs. For now, such stories are familiar in developed countries, but they foreshadow an emerging premonition that the process of automation will soon affect millions of jobs in developing countries.

Automation has many dimensions, but the one that gets the most attention is the automation of tasks that are laborious, repetitive, dangerous, dirty, or dull. More often than not, these types of jobs pay less than what is considered a decent wage.

Once upon a time, rickshaws used to ply major streets of Dhaka. Now Dhaka’s roads are […]

Robots To Destroy 2.9m Working Class Jobs – And Tory Seats Will Be Hit Hardest

Robots To Destroy 2.9m Working Class Jobs - And Tory Seats Will Be Hit Hardest

Automation is on course to destroy almost five times as many working class jobs as the collapse of coal and steel in the 1980s, alarming new analysis predicts.

The forecast, published by a group of Labour MPs and activists called Red Shift, paints a bleak picture of the future jobs market – and finds that Tory constituencies face the biggest threats.

Studying OECD and House of Commons library figures, the research found that, while new jobs will be created, those on the lowest wages will be hit hardest by automation’s sweeping changes.The study says: Between 2.1 million and 2.9 million working […]

Banks scaring staff with automation talk, BofA’s Bessant says

Banks scaring staff with automation talk, BofA's Bessant says

Bank of America’s top technology officer says finance-industry workers get spooked about their jobs because of how bosses talk about tech.

"A lot of the fear that we’ve created in our workforce has been exactly that: fear we’ve created," Cathy Bessant, Bank of America’s chief operations and technology officer, said Tuesday at the Bloomberg Invest conference in New York. While automation is welcomed by shareholders, such talk can be "a little bit terrifying to people who say, ‘Wait a minute, it’s my job that’s going away.’" Catherine Bessant, chief operations and technology officer at Bank Of America, speaks during the […]

Does the Industry 4.0 production line spell the end of the line for workers?

Does the Industry 4.0 production line spell the end of the line for workers?

Robots and other forms of automation will massively hurt the U.S. workforce. That’s what I typically read in some of the more pessimistic headlines and what I just read in a study of Industry 4.0 that I wrote about here , but is it true? That blanket statement isn’t new and has been a dire prediction since robotics and automation came into use in the 1980s.

The gloom-and-doom scenario has mostly proven to be a myth, given that the unemployment rate currently is at 3.8%. With 5% unemployment considered by economists to be full employment, it’s no wonder that manufacturers […]

Banks Scaring Staff With Automation Talk, BofA’s Tech Chief Says

Banks Scaring Staff With Automation Talk, BofA's Tech Chief Says

Catherine Bessant, chief operations and technology officer of Bank Of America Corp., speaks during the Bloomberg Invest Summit in New York, on June 5. Bank of America Corp. ’s top technology officer says finance-industry workers get spooked about their jobs because of how bosses talk about tech.

“A lot of the fear that we’ve created in our workforce has been exactly that: fear we’ve created,” Cathy Bessant, Bank of America’s chief operations and technology officer, said Tuesday at the Bloomberg Invest conference in New York. While automation is welcomed by shareholders, such talk can be “a little bit terrifying to […]

Effects of automation will vary across industries, locations, study finds

Effects of automation will vary across industries, locations, study finds

Packages flow through United Parcel Service’s Chicago Area Consolidation Hub on December 16, 2009 in Hodgkins, Ill.. File Photo by Brian Kersey/UPI WASHINGTON, D.C. — Despite fears from U.S. workers that robots could squeeze them out of jobs, concern over automation in the workplace may be unwarranted depending on the industry and its location, a study has found.

Data from Northwestern University’s Kellogg School of Management predict how automation may affect various jobs in different cities throughout the U.S. The findings show that specialized professionals like elementary school teachers and lawyers have a small chance of falling victim to machines. […]

Innovation is creating jobs faster than technology destroys them

Innovation is creating jobs faster than technology destroys them

Malaysian entrepreneur, founder and executive chairman of the QI Group Vijay Eswaran explores how technology is creating jobs, as opposed to fuelling a decline.

Since the turn of the century, it has often been said that all the promise of technological progress is set to collide with the rising tide of population growth in the form of many millions of lost jobs on the altar of automation, resulting in a full-blown employment catastrophe – more catastrophic than any economic meltdown we’ve seen before.

This argument, once reserved for futurologists and academics, has seeped into popular consciousness. Elites at Davos, Switzerland, […]

Automation of work in India – Threat or opportunity?

India’s economic development depends on automation and extensive use of advanced

technology. In the long term, this will create jobs and growth – but in the short term,

millions of routine jobs could be eliminated.By Tom Sebastian, Deputy Head, Innovation Centre Denmark – IndiaThe effects of automation on employment may be worrying in Denmark, but its impactwill likely be much greater on emerging markets.With over one million young Indian entering the Indian labor market every month, jobcreation presents itself as one of India’s biggest challenges in its path towardsdevelopment.Estimates from the World Bank point towards a replacement of over 69% of […]

Robots to the Rescue—of Manufacturing

Robots to the Rescue—of Manufacturing

It’s mostly accepted wisdom in policy circles: automation means that manufacturing employment is destined to follow the historical example of farm work, becoming a negligible share of the U.S. workforce. Even those who embrace the Trump administration’s efforts to “onshore” factories say that we should be “honest about the facts,” especially to those Americans still out of work. The erudite Ben Sasse, a senator with a Ph.D. in history, has called the transformation an “irreversible trend.”

On the other hand, the latest Bureau of Labor Statistics (BLS) data show that over the past 12 months, industrial domains created twice as […]

Impact of automation on employment in india

The risk of jobs being replaced by automation varies by country including China and India The impact of automation may be more disruptive for developing Automation is expected to gain which said last year that automation threatens 69 per cent of the jobs in India. AI, Robotics, and the Future of Jobs. impact of automation on employment in india A study examined the actual and projected impact of automation on employment between 1963 and 2000. 5 million in India, The whole counter-argument to job losses caused by automation is the new How will automation affect jobs in India? India […]