Obama adviser warns that robots could worsen inequality

Obama adviser warns that robots could worsen inequality

Artificial intelligence is an innovation that must be pursued, President Obama’s top economic adviser said Thursday, but greater automation of work could increase income inequality and push some people out of the workforce if the right policies are not implemented.

Speaking at New York University, Council of Economic Advisers Chairman Jason Furman said he rejected very pessimistic or highly optimistic views of the effects that automization will have on work, saying that labor markets can adjust to technology making certain work obsolete. But those same changes, he said, have also resulted in extra inequality in the past, and that dynamic […]

Robots threaten 137m Asian jobs in automated future

Robots threaten 137m Asian jobs in automated future

Technologies including 3D printing, wearable technology, nanotechnology and robotic automation are predicted to disrupt the sector Robots and automation could endanger the jobs of more than half of workers in five South-east Asian countries over the next two decades, according to an International Labour Organisation (ILO) study.

It found that those working in the garments industry were particularly vulnerable, but jobs in other industries were also found to be at high risk.

About 137 million workers – approximately 56 per cent of the salaried workforce from Cambodia, Indonesia, the Philippines, Thailand and Vietnam – fall under the high-risk category, the study […]

Cepeda: Smarts should not be mistaken for human worth

Cepeda: Smarts should not be mistaken for human worth

Freedman also rails that: "Even in this age of rampant concern over microaggressions and victimization, we maintain open season on the nonsmart. People who’d swerve off a cliff rather than use a pejorative for race, religion, physical appearance or disability are all too happy to drop the S-bomb: Indeed, degrading others for being ‘stupid’ has become nearly automatic in all forms of disagreement."

And yet … perhaps Freedman doth protest too much.

In all the data he presents about longitudinal studies of IQ as it relates to one’s ability to attain a well-paying job — or the likelihood of becoming obese, […]

Top Economist Makes Case For Why New Laws Are Destroying Jobs

Top Economist Makes Case For Why New Laws Are Destroying Jobs

McDonald’s automated kiosk (REUTERS/Rick Wilking) A former top federal economist warned in an opinion piece Wednesday government policies are often counterproductive to the jobs they’re meant to save.

Industries phase out employment opportunities naturally due to factors like robotics and automation. Lawmakers have proposed policies to preserve and improve jobs, but often, those ideas backfire. International Trade Commission Former Chief Economist Peter Morici said a better approach is to prepare people for the jobs not easily replaced.

“The robotics and artificial intelligence revolution is all around us,” Morici wrote in a piece for Fox News. “Tasks requiring complex manual dexterity have […]

If automation is the future, what comes next?

If automation is the future, what comes next?

Tanner Mirrlees Instead of hiring workers, many companies are employing new technology. No job seems safe from automation.

The factories of the world are filled with gigantic robotic arms programmed to put together everything from BMV luxury automobiles to Apple iPhones. Assembly lines are working with fewer blue collars.

Distribution warehouses, like those run by Amazon.com, employ robotic dollies to fill and carry shelves of books and beauty accessories to the small human workforce that packs these goods into the boxes mailed to our doors.Customer service is being designed away by user-friendly interfaces that shift tasks once done by paid workers […]

A post-employment society is looming

If the government sent you a check for $961.58 every two weeks — $25,000 a year — for the rest of your life, with adjustments for inflation, would that be enough for you to walk away from the working world forever?

How about $20,000 a year? $15,000? $10,000?

And there’s another side to that question. If you could get $25,000 a year to stay home, how much would you demand before showing up for work?These aren’t rhetorical questions. For those of us dependent on paychecks to put food on the table and sleep indoors every night, this could be our future, […]

Infosys, TCS & Wipro see big jump in campus offers acceptance as jobs shrink with each passing year

Infosys, TCS & Wipro see big jump in campus offers acceptance as jobs shrink with each passing year

As the number of jobs in India’s $160-billion information technology industry starts shrinking with each passing year, engineering graduates across are scrambling for every vacancy in a sector that was once a big employment generator.

The percentage of fresh engineering graduates accepting campus offers from India’s largest software firms such as Tata Consultancy Services, Infosys and Wipro has jumped significantly in the past three-four years, according to company data and executives.

For instance, at Wipro, job acceptance rates have risen to 85% from 65% three years ago, said an executive who didn’t want to be named. Others said this mirrors the […]

Future proofing your job

Future proofing your job

On Monday night, ABC Four Corners ran a ripper report entitled “Future Proof” , which examines the future of work in Australia and whether we are preparing our children properly for the future.

The report features a bunch of experts and commentators, some of who believe that up to 40% of current jobs (5 million) could disappear within 15 years as technological change takes hold, although many of these will be replaced by new jobs in areas that we probably haven’t even thought of.

Below are some key extracts from the transcript , beginning with the pessimistic news: GEOFF THOMPSON: Today […]

Barack Obama wrong about size of U.S. steel production, work force

Barack Obama wrong about size of U.S. steel production, work force

Canadian Prime Minister Justin Trudeau and his wife, Sophie Gregoire Trudeau, share a laugh with U.S. President Barack Obama after his address to Parliament in Ottawa, on June 29, 2016. (Justin Tang/The Canadian Press via AP) Activity at the ArcelorMittal coke factory, which currently employs about 180 people, in Monessen, Pa., on June 30, 2016. (Jeff Swensen/New York Times) When Donald Trump made a high-profile speech outlining his approach to trade, he did it in Monessen, Pa., a town near Pittsburgh where a big steel mill has been shuttered for the past three decades.

A day after Trump’s speech, Barack […]

Politifact: Obama Wrong on Steel Production

Politifact: Obama Wrong on Steel Production

By Greg Richter | Tuesday, 05 Jul 2016 07:13 PM President Barack Obama got it wrong when he said last week that "The steel industry is producing as much steel in the United States as it ever was. It’s just (that) it needs one-tenth of the workers that it used to," Politifact says.
Obama made the claim during a summit in Ottawa one day after presumptive GOP presidential nominee Donald Trump slammed manufacturers for moving jobs into other countries. Trump was speaking near Pittsburgh, where the once dominant steel industry has been hammered in recent decades.

Obama took issue […]