Tag: inequality

How does automation impact labor market dynamics and job security?

Insight from top 5 papers

Automation significantly impacts labor market dynamics and job security by reshaping industries, transforming job roles, and creating wage differentials [2] . The task model clarifies that automation substitutes capital for labor in various tasks, leading to both positive productivity effects and negative displacement effects, reducing employment opportunities for workers [3] . Research shows that industries with high automation potential increase susceptibility to job insecurity, with social media engagement potentially mitigating this effect [1] . Moreover, the government plays a crucial role in ensuring a fair labor market amidst concerns about decreased employment opportunities and […]

India’s Growth Stalemate: Breaking Free From The Middle-income Trap

India's Growth Stalemate: Breaking Free From The Middle-income Trap

# Middle-income Trap

# Economic growth

Economic growth isn’t just a numerical target; it’s the lifeblood of a nation’s prosperity, writes the author India’s economic growth has been substantial but has fallen short of generating sustained high growth rates necessary to absorb its expanding workforce. This persistent growth gap is the root of the country’s employment crisis. The hope that the manufacturing sector would be a major job creator is diminishing as automation increasingly replaces human labour. *India’s Job Crisis: It’s Not About Numbers, It’s About Growth The prevailing narrative often emphasises job creation, yet the […]

Generative AI could transform millions of jobs in Latin America and the Caribbean but digital divide poses challenges

Generative AI could transform millions of jobs in Latin America and the Caribbean but digital divide poses challenges

GENEVA (ILO News) – Generative Artificial Intelligence (GenAI) could significantly transform jobs and boost productivity in Latin America and the Caribbean, but existing digital infrastructure gaps may hinder its potential benefits, according to a new research paper from the International Labour Organization (ILO) and the World Bank.

The research, Buffer or Bottleneck? Employment Exposure to Generative AI and the Digital Divide in Latin America , finds that between 26 per cent and 38 per cent of jobs in the region could be influenced by GenAI. However, the technology is more likely to augment and transform jobs rather than fully automate […]

Generative AI May Transform Jobs in Latin America, Caribbean

Generative Artificial Intelligence (GenAI) could significantly transform jobs and boost productivity in Latin America and the Caribbean, but existing digital infrastructure gaps may hinder its potential benefits, according to a new research paper from the International Labour Organization (ILO) and the World Bank.

The research, Buffer or Bottleneck? Employment Exposure to Generative AI and the Digital Divide in Latin America , finds that between 26 per cent and 38 per cent of jobs in the region could be influenced by GenAI. However, the technology is more likely to augment and transform jobs rather than fully automate them. Specifically, 8 per […]

Tesla May Replace Employees with Optimus Humanoid Robots

Tesla May Replace Employees with Optimus Humanoid Robots

Elon Musk’s Tesla is on a mission to revolutionize transportation with electric vehicles. But the company’s ambitions stretch far beyond the road. Tesla’s Optimus, a humanoid robot unveiled at the company’s AI Day in 2021, has ignited a fervent debate about the future of work. The prospect of robots replacing humans in various industries is no longer a distant sci-fi fantasy but a looming reality. You might also like

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Optimus: A Humanoid Workforce Designed to handle tasks that are “dangerous, repetitive, or boring,” Optimus […]

Automation and the implications for job market

Automation and the implications for job market

1. "The Rise of Automation: How Technology is Transforming the Job Market"

The Rise of Automation: How Technology is Transforming the Job Market

Automation, powered by advancements in artificial intelligence and robotics, is reshaping the job market at an unprecedented pace. According to a report by the McKinsey Global Institute, by 2030, up to 800 million jobs could be displaced globally due to automation. This transformation is not limited to low-skilled tasks; even roles requiring higher education and specialized skills are at risk. For instance, a study by the Brookings Institution found that nearly 25% of U.S. jobs are highly […]

Sam Altman’s Universal Basic Income Study Reveals Shifts In Spending And Employment

Sam Altman's Universal Basic Income Study Reveals Shifts In Spending And Employment

In a groundbreaking initiative that seeks to understand the impacts of universal basic income (UBI), Sam Altman, the CEO of OpenAI, has been at the forefront of a three-year experiment providing cash to individuals in need. The project has granted $1,000 monthly to thousands of participants across Illinois and Texas, examining how a guaranteed income might reshape lives in an era increasingly influenced by artificial intelligence.

Launched in November 2020, the study included around 3,000 individuals aged 21 to 40 who earn less than $30,000 per year. One-third received $1,000 each month, while a control group was given just $50. […]

Why do we need AI, why is it becoming an indispensable tool?

Why do we need AI, why is it becoming an indispensable tool?

Why do we need AI? It’s not just a question – it’s reshaping our world faster than you can say “Hey Siri.”

Artificial intelligence is everywhere these days. It’s in your pocket, helping your phone recognize your face. It’s in your email, sorting out spam. It’s even in your car, making parking easier. AI is like a super-smart helper that never gets tired. But AI isn’t just about making cool gadgets. It’s changing how we work, learn, and live. Doctors use AI to spot diseases earlier. Scientists use it to understand climate change better. Artists use it to create new […]

The Impact of Artificial Intelligence on Future Job Market

The Impact of Artificial Intelligence on Future Job Market

New technologies are reshaping the job market landscape, with artificial intelligence leading the charge. According to forecasts by McKinsey Global Institute, AI advancements could prompt at least 14% of the global workforce to consider changing career paths by 2030 due to digitization and robotics. This shift is expected to boost global wealth by approximately $13 trillion and increase GDP by 1.2% annually, emphasizing the pivotal role of AI in economic growth.

While concerns surrounding AI’s effects on employment persist, history suggests that the emergence of new professions often balances out the elimination of others. Research indicates that around […]

How AI And Robot Job Displacements Could Lead Us Down The Rode Of Universal Basic Income And Loss Of Identity

How AI And Robot Job Displacements Could Lead Us Down The Rode Of Universal Basic Income And Loss Of Identity

In today’s evolving workplace landscape, AI and robotics are already automating tasks across almost For some, the ascendancy of artificial intelligence and robotics instills the fear that these sophisticated and emerging technologies will one day ultimately replace human workers.

In today’s evolving workplace landscape, AI and robotics are already automating tasks across almost all sectors, including manufacturing, data analysis, customer service and administration. As it stands, repetitive and routine tasks are the most susceptible to automation.

While AI and robotics will undoubtedly change the nature of work, it’s unlikely that these technologies will eradicate the existence of all jobs. The focus […]