Tag: inequality

Decoding the future: The college providing the skillset for next-gen jobs

Decoding the future: The college providing the skillset for next-gen jobs

Forty percent of the jobs of the future do not yet exist. It’s a prediction you will often hear repeated at career forums and tech talks. Is there any truth to the figure, however? If so, what exactly are those jobs yet to be invented? Get connected: The future of work will require both technical and interpersonal skills. AI-generated image: DALL-E2/The Local Europe The Local spoke to two students from the higher education programme Forward College about what the future of jobs will look like, and how their unique education is helping them prepare for it.

An artificially-intelligent, automated […]

A social carnage: automation explodes inequalities

A social carnage: automation explodes inequalities

Automation technologies have played a leading role in rising income inequality, study finds.

Automated checkouts, call center systems, innovations on assembly lines, automation technologies are now being deployed on a large scale in many sectors. A new study by researchers from MIT and Boston University finds that the latter have played a major role in the explosion of income inequality in the United States in recent decades. Is automation responsible for inequalities?

The authors claim that these innovations only generate a fairly low or even zero gain in productivity. However, these machines are generally excellent for the results of the […]

Tech Tip: AI Should Be Cooperative

Tech Tip: AI Should Be Cooperative

Are you seeing AI as a threat? Photo by Kindel Media. Nowadays, it’s worth asking if comparing the two was the right call; rather, industry professionals think that collaboration between AI and human workers is more preferable compared to competition. Turing’s Standard May Have Produced Economic Inequities

At the Stanford Digital Economy Lab, director Erik Brynjolfsson claims that advances in AI have created serious issues, economic inequality among them. In the Spring 2022 issue of Dædalus, a journal produced by the American Academy of Arts and Sciences, he writes that the goal of AI swiftly became a mission to […]

How Smart Technologies Challenge Public Sector Planning

How Smart Technologies Challenge Public Sector Planning

Brett King is a futurist, an Amazon bestselling author, an award-winning speaker, and hosts a globally recognized radio show. He is also the founder of the first mobile neo-bank Moven , and in his spare time enjoys flying as an IFR pilot, scuba diving, motor racing, gaming and sci-fi.

King advised the Obama administration on the future of banking, President Xi Jinping had his book on his bookshelf, and he has spoken on the future in 50 countries in just the last few years. In this conversation, he talks about his new book, The Rise of Technosocialism and its impact […]

Automation Caused More than Half America’s Income Inequality Since 1980, Study Claims

Over the last four decades, the income gap between more- and less-educated workers has grown significantly; the study finds that automation accounts for more than half of that increase. "This single one variable … explains 50 to 70 percent of the changes or variation between group inequality from 1980 to about 2016," Acemoglu says….

Acemoglu and Pascual Restrepo, an assistant professor of economics at Boston University, used U.S. Bureau of Economic Analysis statistics on the extent to which human labor was used in 49 industries from 1987 to 2016, as well as data on machinery and software adopted in that […]

Technology Needs More Humanity

There’s the paranoid fear that a spooky cabal of technocrats at the Federal Reserve — unaccountable, incomprehensible — might one day make ordinary money go poof! There’s the success of the young bros who minted a fortune convincing other young bros to embrace the thing — luring a generation with dim job prospects anyway to take a shot at getting rich from their bedroom.

Can that be all, though? You might expect some urgency to find a purpose for a technology that consumes more power than Australia, yet hasn’t been able to develop a real-world function other than paying for […]

Fourth industrial revolution: ‘4IR is not real’

Fourth industrial revolution: ‘4IR is not real’

Science & Technology

The current innovation cycle is not new. It was formulated in the 1980s if not before 4IR has been introduced as an ideological concept to revive a flagging third industrial revolution. Photo: iStock I do not think there is enough substantive transformation happening right now to be called a fourth industrial revolution (4IR). It has been introduced as an ideological concept to revive a flagging third industrial revolution. The current innovation cycle is not new. The relationship between machine intelligence and robotics was formulated in the 1980s, if not earlier.

I am not saying that technologies cannot […]

Is AI Good for the Future? Exploring the Benefits and Risks

Is AI Good for the Future? Exploring the Benefits and Risks

Introduction

Artificial intelligence (AI) is an exciting technology that has the potential to revolutionize many aspects of life. Its use is becoming increasingly widespread, from medical diagnosis and self-driving cars to online personal assistants. As AI continues to develop, it raises a number of questions about its implications for society. This article will explore the ethical implications, benefits, and risks of AI in the future. It will investigate how AI could change the workforce, its impact on education, and its potential to drive innovation. Exploring the Ethical Implications of AI in the Future Exploring the Ethical Implications of AI […]

New MIT Research Indicates That Automation Is Responsible for Income Inequality

New MIT Research Indicates That Automation Is Responsible for Income Inequality

A newly published paper quantifies the extent to which automation has contributed to income inequality in the U.S., simply by replacing workers with technology — whether self-checkout machines, call-center systems, assembly-line technology, or other devices. Recent data suggests that the majority of the increase in the wage gap since 1980 can be attributed to automation replacing less-educated workers.

When using self-checkout machines in supermarkets and drugstores, it is unlikely that you are bagging your purchases as efficiently as checkout clerks used to. The main advantage of automation for large retail chains is that it reduces the cost of bagging.

“If […]

Exploring the Impact of AI on the Global Economy

Exploring the Impact of AI on the Global Economy

Introduction

The integration of Artificial Intelligence (AI) into the global economy has been one of the most influential technological advancements of the past decade. AI is being used to automate processes, improve production efficiency, and ultimately increase productivity in a variety of industries. AI-driven systems are also being utilized to develop solutions for complex problems and drive innovations across sectors. As a result, AI is having an increasingly significant impact on the global economy.

This article will explore the various benefits and risks of AI adoption in the global economy, as well as the opportunities for job creation with AI […]