Tag: inequality

Malaysia must study displacement impact of AI on workers

Malaysia must study displacement impact of AI on workers

WILLIAM Blake, in the poem “London”, lamented that in every face he met in the city he saw “weakness” and “marks of woe.” Blake penned these thoughts at a time England was beginning its transition to the industrial revolution. While the industrial revolution paved the way for modernisation which led to the country’s economic advances and lifted many out of poverty through the creation of new jobs, it simultaneously left many out of work. The mechanisation of labour and the rise of the machine would prove to be a challenging time for the country as it rendered many worker […]

Three Perspectives on the Future of AI

Three Perspectives on the Future of AI

AEIdeas

March 29, 2024

Is AI the end of the world, a new beginning, or just another chapter in the history of humans and their machines? In a thought-provoking trialogue , three leading experts, Daron Acemoglu, Adam Thierer, and Erik Brynjolfsson weigh in on these questions, exploring the evolving landscape of work, technology, and economic prosperity in today’s economy.While it sounds like the setup for a joke, the papers could be summarized as “a pessimist, an optimist, and a realist walk into a bar to talk AI.” Acemoglu plays the role of the concerned pessimist. Consistent with this recent book, […]

Technology Is Taking Over The World

Technology Is Taking Over The World

Top highlight Technology Is Taking Over The World Photo by fabio on Unsplash In the 21st century, the pace of technological advancement has accelerated at an unprecedented rate, permeating every aspect of our lives. From the way we communicate and work to how we entertain ourselves and navigate the world, technology has become an omnipresent force shaping the fabric of society. In this comprehensive exploration, we will delve into the multifaceted impact of technology on our world, examining its transformative effects on industries, economies, cultures, and the very nature of human existence.

At the heart of technology’s takeover is the […]

How automation affect employment in manufacturing?

How automation affect employment in manufacturing?

Automation technology in manufacturing has varied effects on employment. Several studies indicate that automation technology increases total employment and employment at all skill levels in manufacturing firms, suggesting that the productivity effect outweighs the displacement effect . Additionally, automation can lead to the skill upgrading of employment composition, with a higher proportion of high-skilled labor and a decrease in low-skilled labor . Furthermore, automation can have a positive impact on employment in the service sector, offsetting the reduction in manufacturing employment . Studies also show that automation in manufacturing leads to higher profits, lower consumer prices, and higher sales, […]

10% of US workers in roles with high exposure to AI, White House says

10% of US workers in roles with high exposure to AI, White House says

The White House released a report Thursday that found roughly 10% of the U.S. workforce is in occupations with a high degree of exposure to artificial intelligence (AI) with lower performance requirements that could leave them more vulnerable to displacement.

According to the report, 20% of American workers are in occupations that have a high level of exposure to AI. About half of them — or 10% of the U.S. workforce — are not only highly exposed to AI but have relatively low performance requirements that could result in their displacement due to AI-powered automation.

Those findings were included in the […]

10% of US workers in roles with high exposure to AI, White House says

10% of US workers in roles with high exposure to AI, White House says

The White House released a report Thursday that found roughly 10% of the U.S. workforce is in occupations with a high degree of exposure to artificial intelligence (AI) with lower performance requirements that could leave them more vulnerable to displacement.

According to the report, 20% of American workers are in occupations that have a high level of exposure to AI. About half of them — or 10% of the U.S. workforce — are not only highly exposed to AI but have relatively low performance requirements that could result in their displacement due to AI-powered automation.

Those findings were included in the […]

10% of US workers are in jobs most exposed to artificial intelligence, White House says

10% of US workers are in jobs most exposed to artificial intelligence, White House says

Tom Grill/JGI/Tetra images RF/Getty Images CNN —

About 10% of US workers are in jobs that face the greatest risk of disruption from rapidly evolving artificial intelligence, according to a White House analysis shared first with CNN.

The report represents the most in-depth analysis to date by the White House on the impact of AI on the US workforce. It finds that workers with less education and lower income are especially exposed to AI, raising the risk that the technology could amplify inequality.The findings are part of the Council of Economic Advisers’ annual Economic Report of the President, which devotes an […]

Goldman chief economist | AI will ‘destroy employment in some areas’

Goldman chief economist | AI will 'destroy employment in some areas'

AI will ‘destroy employment in some areas’ Goldman Sachs’ chief economist has offered a stark forecast on the initial impact of AI on the labor market, predicting it will ‘destroy employment in some areas.’

Jan Hatzius, the economist in question, has risen to prominence after previously making several successful predictions about the global economy, including forecasting the 2008 financial crisis.

In an interview with CNN, Hatzius said he expects there to be a short-term hit to jobs, but believes that the long term picture is brighter.“There will be parts of the labor market where tasks can be replaced,” Hatzius said. […]

Ethical Considerations in Robotics and AI: Navigating the Moral Dilemmas of Automation

Ethical Considerations in Robotics and AI: Navigating the Moral Dilemmas of Automation

In a world where robots and artificial intelligence are becoming increasingly integrated into our daily lives, the ethical considerations surrounding their use have never been more important. From autonomous vehicles to chatbots, the decisions made by developers and programmers can have profound moral implications. Join us as we delve into the complex landscape of robotics and AI, exploring the challenges and dilemmas that arise when navigating the ever-evolving intersection of technology and ethics. Introduction to Robotics and AI

In recent years, robotics and artificial intelligence (AI) have significantly advanced, resulting in the widespread use of autonomous systems in various […]

India is on a path of digitalisation that is different from China and US: Soumitra Dutta, Dean of Said Business School

India is on a path of digitalisation that is different from China and US: Soumitra Dutta, Dean of Said Business School

It’s time India starts focusing on developing a truly world-class AI infrastructure in the country to reap its dividends, says the Dean of Oxford University’s Said Business School.

Soumitra Dutta says there is an urgent need for India to increase its spend on R&D and other academic research. While India may have made a mark in the software services exports, it has lagged a bit in terms of adoption of artificial intelligence (AI), says Soumitra Dutta , Dean of Oxford University ‘s Said Business School . Dutta, a professor of Indian origin, says India has to now focus on […]