Tag: inequality

IMF raises caution on rising AI

IMF raises caution on rising AI

Washington, DC

THE International Monetary Fund (IMF) has called for a careful balance of policies to tap into the potential of artificial intelligence (AI), which is projected to take over 40 percent of jobs around the world.
In a new analysis titled “AI will transform the global economy: Let’s make sure it benefits humanity’, the IMF states that AI could also affect income and wealth inequality within countries.
“We may see polarisation within income brackets, with workers who can harness AI seeing an increase in their productivity and wages and those who cannot fall behind. Research shows that AI […]

Bill Gates Anticipates AI Revolution’s Impact on Labor Market and Employment

The advance of AI technologies is reshaping the labor market, leading to significant reductions in human workforces globally. In emerging economies, certain call centers have astonishingly dismissed up to 90% of their staff as automation takes hold. Studies concerning the future of jobs predict a challenging transition period for workers as society shifts towards widespread automation.

While some view the rise of AI primarily as a marketing strategy designed to weather a potential “AI winter,” others, like Bill Gates, recognize the profound changes AI could bring. Gates, who has substantial investments in artificial intelligence, opined in a discussion on Sam […]

MALAYSIA MUST STUDY FUTURE DISPLACEMENT OF LABOURERS

Opinions on topical issues from thought leaders, columnists and editors.

Seventeenth century English poet William Blake, in the poem ‘London’ – considered to be one of his greatest works – when describing the people of London in the city, lamented that in every face, he “had met”, he found that it revealed “weakness” and “marks of woe”.

Blake penned these thoughts to paper at a time when England was beginning its transition to the industrial revolution – a rather tumultuous time for the country. While the industrial revolution paved the way for modernisation which led to the country’s dramatic economic advances […]

The Economist Breaking Ranks to Warn of AI’s Transformative Power

The Economist Breaking Ranks to Warn of AI’s Transformative Power

By Will Henshall

April 16, 2024 11:47 AM EDT

Technologists tend to predict that the economic impacts of their creations will be unprecedented—and this is especially true when it comes to artificial intelligence. Last year, Elon Musk predicted that continued advances in AI would render human labor obsolete. OpenAI CEO Sam Altman has written that AI will inevitably continue the shift in economic power from labor to capital and create “phenomenal wealth.” Jensen Huang, CEO of semiconductor design firm Nvidia, has compared AI’s development and deployment to a “new industrial revolution.”But while the technologists are bullish on the economic impacts […]

How Automation Influences the Future of Work

How Automation Influences the Future of Work

The integration of artificial intelligence (AI) into the workplace is no longer a matter of future speculation—it’s an evolving reality reshaping industries and job roles. Katharina Grienberger, a labor market researcher, probes the extent to which various professions could technically be substituted by machines, offering fresh insights into future trends.

Professions across the spectrum, from editorial roles to specialized technical jobs, are experiencing the impact of tools like ChatGPT . These innovative AI applications do not only enhance productivity but also provoke questions about the future of human employment in certain sectors. According to the data, the rise of AI […]

Amazon Accelerates Robotics Integration: Over 750,000 Bots Boost Supply Chain Efficiency

Amazon Accelerates Robotics Integration: Over 750,000 Bots Boost Supply Chain Efficiency

Amazon.com Inc. is ramping up its utilization of robotics, with a staggering deployment of over 750,000 robots alongside its workforce. The tech giant, currently the world’s second-largest private employer with 1.5 million employees, has seen a decline in its workforce by over 100,000 since 2021 when it had 1.6 million workers. This significant increase in robots marks a notable shift, with 520,000 robots in 2022 and 200,000 in 2019. The new robots, such as Sequoia and Digit, are tailored to handle repetitive tasks, aiming to boost efficiency, safety, and delivery speed for Amazon’s clientele. Sequoia streamlines inventory management and […]

Navigating the AI Revolution: Tina Huang’s Insights on Job Displacement and Adaptation

Navigating the AI Revolution: Tina Huang’s Insights on Job Displacement and Adaptation

Written by Staff

In a frightening talk on the implications of artificial intelligence (AI) for the workforce, Tina Huang, a Data Scientist and popular YouTuber, focused a recent video on the evolving relationship between automation and employment. Drawing from her extensive expertise in the field, Huang embarked on a comprehensive analysis, dissecting the nuances of AI-driven disruption and illuminating pathways for adaptation in an era of technological upheaval.

Addressing her audience captivated by the promise and peril of AI, Huang began by contextualizing the prevailing anxieties surrounding job displacement in the face of automation. “The specter of AI-induced job loss […]

Amazon Grows To Over 750,000 Robots As World’s Second-Largest Private Employer Replaces Over 100,000 Humans

Amazon Grows To Over 750,000 Robots As World's Second-Largest Private Employer Replaces Over 100,000 Humans

Amazon.com Inc. is rapidly advancing its use of robotics, deploying over 750,000 robots to work alongside its employees.

The world’s second-largest private employer employs 1.5 million people. While that’s a lot, it’s a decrease of over 100,000 employees from the 1.6 million workers it had in 2021. Meanwhile, the company had 520,000 robots in 2022 and 200,000 robots in 2019. While Amazon is bringing on hundreds of thousands of robots per year, the company is slowly decreasing its employee numbers.

The robots, including new models like Sequoia and Digit, are designed to perform repetitive tasks, thereby improving efficiency, safety and delivery […]

The Future of Work in the Age of Automation

The Future of Work in the Age of Automation

The Future of Work in the Age of Automation

Agendazzle

· Follow 5 min read·4 hours ago Photo by Louis Reed on Unsplash In today’s rapidly evolving technological landscape, automation is revolutionizing the way we work and interact with machines. From artificial intelligence to robotics, automation is reshaping industries, transforming job roles, and raising questions about the future of work. This article delves into the implications of automation on jobs and industries, explores the skills and roles needed for the future workforce, examines the ethical considerations surrounding automated work environments, and provides insights into reskilling and upskilling strategies […]

The Silent Shift: How AI Stealthily Reshapes Our Work And Future

The Silent Shift: How AI Stealthily Reshapes Our Work And Future

Robotic Automation Replacing Humans as tecchnology and Human Job Loss as employees being replaced by … [+] In the shadows of the digital age, a quiet revolution unfolds, reshaping the landscape of work with every passing moment. Artificial intelligence (AI), once the fodder of science fiction and speculative thought, now infiltrates every facet of our professional lives, often in ways so subtle that its impact goes unnoticed until it’s too late. This silent shift sees AI not just complementing human efforts but outright replacing them, leaving a trail of obsolescence in its wake. Thus, let’s delve into the stark […]