Tag: employment

Man vs. Machine: Is Automation Stealing Jobs?

Man vs. Machine: Is Automation Stealing Jobs?

Although it has accelerated of late, the fear of automation stealing jobs is centuries old. Recall the legendary 19th century folktale of John Henry, the strongest steel-driving man who ever wielded a hammer. One day the railroad turned to automation, using a steam-powered drill that outworked any man. Although John Henry tried to outwork the machine, he famously died trying.

In a more contemporary "man v. machine" story, chess master Garry Kasparaov defeated IBM’s Deep Blue in a 1996 chess match, only to lose against the "thinking machine" the following year. Notice that in both stories, the machines ultimately came […]

Industrial Robots and Manufacturing Jobs – A Catalyst for Loss or Growth?

Industrial Robots and Manufacturing Jobs – A Catalyst for Loss or Growth?

The unknown is scary; change is often met with resistance, and people may ask themselves how such innovations will affect their livelihoods and lifestyles. By definition, disruptive technologies are innovations that create a new market and value network, ultimately displacing established market leaders, alliances, and the status quo. Historically, however, it’s been seen that as society becomes more educated, informed, and familiar with innovations such as e-mail, smartphones, and social networking, the acceptance and proven benefits begin to emerge as a result.

Similar to other industry shake-ups, the increasing introduction of robotics into the workplace has led to a common […]

85% of job loss in manufacturing due to automation; only 13% due to trade

Since talk about trade agreements that America is "losing" on still dominates the airwaves, I thought I’d bring this up as I’ve seen it floated around recently. Short of a Luddite-esque smashing of the machines – or maybe more of a USSR pointless job creation scheme – I’m not sure what the solution for the further automation of work is.

CATO @ Liberty – Have Trade Agreements Killed the Manufacturing Sector?

Yes, it’s true – fewer people work in manufacturing today than in the past. Peak U.S. manufacturing employment was 19.4 million workers in 1979, […]

All jobs susceptible to automation, says McKinsey Global Institute study

All jobs susceptible to automation, says McKinsey Global Institute study

Michael Chui, Partner, McKinsey Global Institute BIJOY GHOSH Chennai, August 23:

It is not just low-skill, low-wage jobs that are affected by automation; some high-skill, high-wage jobs too, are susceptible to automation, according to McKinsey Global Institute, the business and economics research arm of consultancy firm McKinsey.

Take for instance, the task of collecting and analysing data. Some of it falls into the category of low-skill, low-wage. But, says Michael Chui, Partner, McKinsey Global Institute, some of the activities that fit into the category of collecting and analysing data are done by those who have MBAs and other graduate degrees and […]

Job automation threatens peoples’ livelihoods. Can universal basic income save the day?

Job automation threatens peoples' livelihoods. Can universal basic income save the day?

Technological developments are rendering many jobs obsolete. Can implemeting a universal basic income provide a way of managing the social and economic implications of such a radical transformation? A robot faces off against a human in a game of ‘rock paper scissors’ at the Science Museum, London. Photo: Ian Nicholson / PA Archive/Press Association Images. All rights reserved. In early 2013, a colleague and I attended the inaugural meeting of the UK Robot Ethics association. There, we suggested that developments in robotics and computing technology meant that we needed to re-evaluate some of our economic thinking. Machines were now […]

The future of work

The dog days of summer are waning, pools are closing, and parents are taking a deep breath as they get to send their kids back to school. It’s Labor Day. But Labor Day is about more than a last hurrah before getting back to work after a summer of fun. Established by the labor movement, it is an annual national tribute to the contributions workers have made throughout history to the well-being and economic strength of the United States.

As we mark the achievements of the past, Labor Day also represents an opportune time to pause and take a look […]

The Robots Are Coming. Welcome Them

Is it time to bow to our robot overlords? Last week analysts at Morgan Stanley , MS 0.16 % using data from an Oxford University study , predicted that nearly half of U.S. jobs will be replaced by robots over the next two decades. Ouch. Maybe we should build a wall.

Cars that drive themselves? Waiters you don’t need to pay (or tip)? Self-folding clothes? Are we headed toward a post-job future? Signs are certainly there. Abundant Robotics, a company spun from the same Stanford Research Institute that brought us the mouse and networked computing, has begun testing a robot […]

Should you hire robots?

Should you hire robots?

With an increasing focus on automation through robotics, digitisation and even artificial intelligence , humanity is in the midst of a new industrial revolution.

In the next decade more than 40 per cent of the jobs we know today will no longer exist according to the Committee for Economic Development of Australia, replaced by jobs we can’t even imagine yet. A quick look at LinkedIn tells us the majority of roles being advertised have the word ‘ digital’ in the role title.

So how should business leaders respond to the questions and concerns of team members? At ANZ, the most frequently […]

Garment factories to buy into automation

Investors in Cambodia’s garment industry are increasingly purchasing modern equipment as they look to produce higher value-added products to compete in the international market and counter rising labour costs, an industry insider said yesterday.

Ly Tek Heng, operation manager at the Garment Manufacturers Association in Cambodia (GMAC), said rising factory worker wages were thinning margins on the production of low-value garments and footwear in the face of fierce global competition.

“If we produce low-value products while the cost of labour keeps rising, we cannot compete,” said Heng. “So, big investors are going to use more modern equipment and machinery, which lets […]

Flipkart, Infosys, AskMe: Why recent spate of job cuts should worry us

Flipkart, Infosys, AskMe: Why recent spate of job cuts should worry us

New Delhi – In the last few days, newspapers have had screaming headlines of loss of thousands of jobs across the services sector.

On Monday , The Indian Express reported Infosys, the country’s second largest software exporter, has cut 500 jobs after the company recorded poor quarterly results were and lost a contract from RBS.

Over the weekend, reports said about 4,000 people were about to lose their jobs due to a suspension of operations at e-commerce website AskMe. Earlier Flipkart had asked about 700 underperformers to leave. Meanwhile, Snapdeal is shutting down a luxury fashion portal which could lead to […]