Tag: inequality

Automation and its enemies

Automation and its enemies

The Industrial Revolution made technology the engine of economic growth (Landes 1969, Mokyr 1990). Before 1750, per capita income in the world doubled every 6,000 years. Since then, it has doubled every 50 years (DeLong 1999). This acceleration was in large part the consequence of applying machinery in production, which allowed us to produce more with fewer people (Frey 2019). Seen in this light, the current automation hysteria is hard to understand. Future generations could make an extraordinary leap forward from the Industrial Revolution’s ‘great enrichment’. The industrialisation process itself, however, was a different matter. The Luddites, who rioted […]

The New World of Work | Podbay

The New World of Work | Podbay

How can business leaders can make the new world of work better for people?

We speak with two leaders on the forefront of applying AI techniques such as automation and machine learning in the business world. How can CEOs stay ahead of the curve in training and developing their workforce for using this technology? Since companies are doing the hiring and creating the jobs, what role do they play in talent and development? How should companies think about hiring as work changes? John Donahoe, CEO of ServiceNow, and Jeff Weiner, CEO of LinkedIn, tackle the tough questions facing companies […]

The workplace of the future and its tech must work for the good of society

The workplace of the future and its tech must work for the good of society

Automation is not likely to eliminate millions of jobs any time soon — but the U.S. and other countries still need vastly improved policies if people are to build better careers and share prosperity as technological changes occur, according to a new MIT report about the workplace of the future. The report , which represents the initial findings of MIT’s Task Force on the Work of the Future, claims to puncture conventional wisdom and builds a nuanced picture of the evolution of technology and jobs.

The likelihood of robots, automation, and artificial intelligence (AI) wiping out huge sectors of the […]

Tech revolution: are Pakistani women being left behind?

Tech revolution: are Pakistani women being left behind?

A Reuters file photo showing silhouette of a woman. We are living in the age of a technological revolution that has fundamentally altered the way people, organisations and institutions connect with each other. Technology has also transformed the world of work, launching the Fourth Industrial Revolution (IR 4.0) that is characterised by a range of new technologies such as financial technologies (Fin Tech), Artificial Intelligence (AI), Internet of Things (IoT), and Deep Learning (DL) that are fusing the physical, digital and biological worlds, impacting every aspect of our lives today. This stage of industrial development is meant to connect […]

MIT on the Work of the Future

MIT on the Work of the Future

An air taxi vertiport in Singapore, Oct. 21, 2019 Automation fears have understandably accelerated in recent years, as our increasingly smart machines are now being applied to activities requiring intelligence and cognitive capabilities that not long ago were viewed as the exclusive domain of humans. While the majority of economists wave such fears away , we don’t really know whether this time might be different.

Tackling the topic, Massachusetts Institute of Technology President Rafael Reif last year convened a task force on the " Work of the Future " to address what might be the most critical question of the […]

We Have the Tools and Technology to Work Less and Live Better

We Have the Tools and Technology to Work Less and Live Better

atwater kent assembly line In 1930, a year into the Great Depression, John Maynard Keynes sat down to write about the economic possibilities of his grandchildren. Despite widespread gloom as the global economic order fell to its knees, the British economist remained upbeat, saying that the ‘prevailing world depression … blind[s] us to what is going on under the surface’. In his essay, he predicted that in 100 years’ time, ie 2030, society would have advanced so far that we would barely need to work. The main problem confronting countries such as Britain and the United States would be […]

Blame the policies, not the robots

The claim that automation is responsible for massive job losses has been made in almost every one of the Democratic debates. In the last debate , technology entrepreneur Andrew Yang told of automation closing stores on Main Street and of self-driving trucks that would shortly displace “3.5 million truckers or the 7 million Americans who work in truck stops, motels, and diners” that serve them. Rep. Tulsi Gabbard (Hawaii) suggested that the “automation revolution” was at “the heart of the fear that is well-founded.”

When Sen. Elizabeth Warren (Mass.) argued that trade was a bigger culprit than automation, the fact-checker […]

Automation and AI: Implications for African Development Prospects?

Automation and AI: Implications for African Development Prospects?

Introduction

Now that computers are capable of taking the jobs that require brain as well as brawn, it may appear there is little left for humans to do. There are many scary forecasts of the capacity of automation and AI to replace a lot of workers very fast. Self-driving vehicles may wipe out opportunities for taxi drivers and truckers, for example. Brynjolfsson, Rock, and Syverson note there are 3.5 million people employed driving vehicles in the US. If automation reduced that to 1.5 million, that alone would increase total US labor productivity by 1.7 percent, [1] but it would […]

Will The Future Of Work Require More Investment In Technology, Not Less?

Will The Future Of Work Require More Investment In Technology, Not Less?

Will The Future Of Work Require More Investment In Technology, Not Less? Getty In 2018 MIT created a ‘Task Force on the Work of the Future’ to explore the way technologies are impacting the world of work, and how society can adapt to ensure that prosperity is broadly shared throughout. They aim to cut through the hyperbole that has sadly come to dominate this topic and give empirical, evidence-driven commentary.

The task force have recently published their first official report not with an express aim to provide definitive answers, but rather to help leaders and policy makers ensure they’re able […]

If the Democrats preserve saying loopy issues concerning the financial system, Trump will win once more

If the Democrats preserve saying loopy issues concerning the financial system, Trump will win once more

With felonies flying quick and livid at 1600 Pennsylvania Avenue this week, it could appear a curious time to jot down about how Democrats operating for president are saying sort of loopy issues.

However they’re.

As a result of Andrew Yang, Bernie Sanders and (typically) Elizabeth Warren are radically misdiagnosing issues within the U.S. financial system, they’re off — typically miles off — in prescriptions for reform.The sheer quantity of free speak about how capitalism is failing is gorgeous. This myth-making scares employees within the current, and sparks proposals that ought to scare markets for the long run.Like, what?Robotic responseStart with […]