Tag: inequality

Retooled Economies: Cynthia Estlund’s new book proposes strategies for a world in which automation could dramatically reduce employment

Retooled Economies: Cynthia Estlund’s new book proposes strategies for a world in which automation could dramatically reduce employment

In her recently published book, Automation Anxiety: Why and How to Save Work , Catherine A. Rein Professor of Law Cynthia Estlund delves into the potential for automation to lead to widespread job elimination. She foresees many possible futures, both with and without less work, and they range from deeply dystopian to humane and broadly appealing. It all depends on how we respond. Cynthia Estlund The book builds on a 2018 article that Estlund published in the Yale Law Journal titled “ What Should We Do After Work? Automation and Employment Law .” It discussed the much-debated prospect that […]

Autonomous Robots are Here: Robotics CEO Claims Businesses Want to Remove Human Labor Due to Labor Shortage

Autonomous Robots are Here: Robotics CEO Claims Businesses Want to Remove Human Labor Due to Labor Shortage

Businesses are struggling to hire due to the labor shortage. Now, many of them are looking into using robots to do mundane jobs in replacement of workers. Robotics company Ametek, Inc. CEO David Zapico told Bloomberg News that "people want to remove labor."

Elon Musk recently said that the time where physical work is becoming optional has come as automation grows and people start to rely more on robots. But what will happen to humans? (Photo: Getty Images)
In this picture taken on August 17, 2021, a humanoid robot delivers drinks to customers at the Dawn Cafe in Tokyo. – […]

How the Future Could Shape Your Life; A Glimpse into Tomorrow

How the Future Could Shape Your Life; A Glimpse into Tomorrow

Monday, October 11, 2021 /8.00PM / Iyioluwabomi Onakoya, Proshare research intern/Header Image Credit: BBC Science Focus Magazine

The next decade is shaping an era of technological and intellectual innovation closely resembling the world of science fiction. The future of the global economy will be shaped by the 5 th industrial revolution (5IR), technological advancements, the evolution of money, demographic changes, and the green revolution ( see illustration 1 below ).

Illustration 1: Likely trends shaping the future of the global economy Technology The future of work is bleak for up to 375 million people worldwide who are susceptible to […]

Yes, robots are coming for your job, but you might like the new one more (if you’re still employed)

Yes, robots are coming for your job, but you might like the new one more (if you're still employed)

Image: GettyImages/gremlin It’s been a century since the word " robot " first entered the human lexicon. In the ensuing decades, automation has leaped from the pages of science fiction with very real-world implications on workforces around the globe. While the early use of these technologies may have focused on the hardware side, advances in AI are ushering in a new automated age, augmenting traditional human roles across industries; including skilled portions of the labor force.

For decades, a speculated wave of job-stealing technologies has stirred debate about the role of humans in the labor force alongside innovation and automation. […]

Are Employees Still Most Vital Assets in Workspace?

Are Employees Still Most Vital Assets in Workspace?

A new economy, a digital one fueled by technological innovation, is emerging and the COVID-19 pandemic has only accelerated this technological transformation, bringing about changes in work, skill requirements, work tools and work relationships.

There were concerns preceding the pandemic about the continuity of certain jobs, which have deepened as a result of the COVID-19 pandemic.

These changes raise essential questions about job security. According to the World Economic Forum Jobs Report 2020, the rise of machines and automation will eliminate an estimated 85 million jobs by 2025. In its report, the World Economic Forum pointed out that automation, in tandem […]

The future of accounting: co-habitation with bots

The future of accounting: co-habitation with bots

The new breed of techno-colleague is here to stay. We can avoid them at our peril, or we can form a mutually beneficial working relationship.

"Humans need not apply." Imagine reading those words on a job-seeker website portal. The smart technology era introduced us to computer systems that can be programmed to do the tasks that most human workers do daily.

Computers can see (computer vision), they can speak and hear (natural language processing), they can execute tasks (robotic process automation) and they can think and learn (machine learning). One might wonder what is left for human workers to do […]

The future of accounting: co-habitation with bots

The future of accounting: co-habitation with bots

The new breed of techno-colleague is here to stay. We can avoid them at our peril, or we can form a mutually beneficial working relationship.

"Humans need not apply." Imagine reading those words on a job-seeker website portal. The smart technology era introduced us to computer systems that can be programmed to do the tasks that most human workers do daily.

Computers can see (computer vision), they can speak and hear (natural language processing), they can execute tasks (robotic process automation) and they can think and learn (machine learning). One might wonder what is left for human workers to do […]

H-1B and Beyond: What are the Options for Hiring Foreign Nationals?

H-1B and Beyond: What are the Options for Hiring Foreign Nationals?

For at least four decades, wages have grown more slowly for less-educated workers than workers with more education, although the gap is often exaggerated . But to be sure, income growth has not been as broad-based as it was in the post-war period. The key question is why?

Many neoclassical economists have laid the blame on technological change, arguing first that it was biased in favor of workers with more skills. If more workers would just go to college, all would be well.

But this “skill-biased technological change” (SBTC) argument never made sense because the growth in inequality among workers with […]

Are Employees still the Most Vital Assets in the Workspace?

Are Employees still the Most Vital Assets in the Workspace?

Coronation Merchant Bank experts analyze how increased adoption of technology by organisations have impacted the role of employees in the present and future work patterns. A new economy, a digital one fueled by technological innovation, is emerging and the COVID-19 pandemic has only accelerated this technological transformation, bringing about changes in work, skill requirements, work tools and work relationships. There were concerns preceding the pandemic about the continuity of certain jobs, which have deepened as a result of the COVID-19 pandemic. These changes raise essential questions about job security. According to the World Economic Forum Jobs Report 2020, the […]

Innovating with sustainability in mind: Don’t automate for automation’s sake

Innovating with sustainability in mind: Don’t automate for automation’s sake

By Aimee Clarke

IT’s been more than 200 years since the steam engine changed the trajectory of humanity and industry. It’s been just as long since people started worrying that technology would render them redundant. The steam engine was used to minimise the need for human labour in manufacturing while ramping up production. Sounds familiar?

In 2021, we are facing the same fears (and opportunities) as in the 1800s.In an exclusive interview with CBN, Marc Van Pelt – MD of Pepperl+Fuchs Africa and chair of the South African-German Chamber of Commerce and Industry’s Working Group 4IR – said: “The manufacturing […]