Tag: inequality

Technology education key to driving future growth

WORLD INTERNET CONFERENCE, WUZHEN, CHINA : Panellists called for efforts to reform educational systems and retrain workers to mitigate the impact of automation, but also pointed to the digital economy as a positive force to reduce inequality.

Nicholas Rosellini, UN Development Programme Resident Representative ( pictured, far left ), noted solving global issues goes far beyond technology companies: “If we look at some of the societal issues impacting the workforce, incomes and the distribution of capital, we need to look at reforming the educational system, lifetime learning and perhaps the idea of a universal basic income.”

Google CEO Sundar Pichai ( […]

Your “Financial Shock” Wealth

Your “Financial Shock” Wealth

Understanding money, inequality, and why the tax bill is important

Imagine that today you accidentally got overcharged $1 somewhere, and a week from now they realized this and gave you your dollar back. On the whole, this might be annoying, but it probably won’t be a big deal to you. Not having that dollar likely didn’t affect your life in any material way; the “opportunity cost” you lost out on could probably be well-summarized by the interest rate on a dollar for a week.

That means that an unexpected expense of $1 basically costs you $1. If you got the […]

Digitalisation of work: blessing for some, curse for others

Digitalisation of work: blessing for some, curse for others

It is a commonplace that we live in the age of disruption. The latest trend towards digitalisation is set to accelerate changes in the workplace and transform the labour market perhaps irreversibly. Current debates on the digitalisation of work concern the extent and degree to which advanced technology such as robotics, artificial intelligence, machine learning and algorithmic decision-making could substitute for manual labour. More worryingly, this is considered to be a potentiality that affects not only the manufacturing industry but also the services sectors and impact on knowledge-intensive jobs.

But technological innovations do not only lead to the displacement of […]

Automation threatens 800 million jobs, but technology could still save us, says report

Automation threatens 800 million jobs, but technology could still save us, says report

A new report predicts that by 2030, as many as 800 million jobs could be lost worldwide to automation. The study , compiled by the McKinsey Global Institute, says that advances in AI and robotics will have a drastic effect on everyday working lives, comparable to the shift away from agricultural societies during the Industrial Revolution. In the US alone, between 39 and 73 million jobs stand to be automated — making up around a third of the total workforce.

But, the report also states that as in the past, technology will not be a purely destructive force. New jobs […]

800 million workers will be replaced by Robots by 2030, study suggests

800 million workers will be replaced by Robots by 2030, study suggests

800 million workers will be replaced by machines by 2030, study suggests One-third of US workers could be jobless by 2030 due to automation

A new study by the consultancy firm, McKinsey Global Institute (MGI), reveals that up to one-third of the United States workers and 800 million workers globally could lose their jobs as a result of automation by 2030.

The new report, entitled “Jobs lost, jobs gained: Workforce transitions in a time of automation,” builds on previous MGI research published in January of 2017. The consulting firm now estimates that between 400 million and 800 million individuals […]

Japan refuses to die, soon to become a 21st century star

Japan refuses to die, soon to become a 21st century star

Summary: Japan continues to prosper, defying the doomsters’ forecasts. Is this a delay of their end times, or the taxing down the runway before lift-off? Japan is in some ways further into the future than the rest of the world. We should watch and learn from them. A setting or rising sun? Since Japan’s long crash began in 1989, people have predicted doom. From their massive gross government debt: 237% of GDP in 2015. From their aging shrinking population and refusal to flood the island with immigrants. From their interventionist government and central bank. From the certain-to-come hyperinflation caused […]

A New Report says That Automation has threatened 800 Million Employment Opportunities

According to a new report, 800 million jobs could be lost by the year 2030 all over the world due to automation. The study that was carried out by McKinsey Global Institute says that technological advancements in robotics and Artificial Intelligence will have a drastic effect on the working population. The report says that the ripple effect that will be caused by automation will be similar to how societies shifted from agriculture to manufacturing in the industrial revolution. An estimated 39 to 73 million employment opportunities will be automated in the United States alone. This population in the US […]

Automation threatens 800 million jobs, but technology could still save us, says report

Automation threatens 800 million jobs, but technology could still save us, says report

A new report predicts that by 2030, as many as 800 million jobs could be lost worldwide to automation. The study , compiled by the McKinsey Global Institute, says that advances in AI and robotics will have a drastic effect on everyday working lives, comparable to the shift away from agricultural societies during the Industrial Revolution. In the US alone, between 39 and 73 million jobs stand to be automated — making up around a third of the total workforce.

But, the report also states that as in the past, technology will not be a purely destructive force. New jobs […]

One-third of US workers could be jobless by 2030 due to automation: McKinsey

One-third of US workers could be jobless by 2030 due to automation: McKinsey

As much as one-third of the United States workforce could be out of a job by 2030 thanks to automation, according to new research from McKinsey. The consulting firm now estimates that between 400 million and 800 million individuals globally could be displaced by automation and need to find new work.

"Even if there is enough work to ensure full employment by 2030, major transitions lie ahead that could match or even exceed the scale of historical shifts out of agriculture and manufacturing," according to a report by the McKinsey Global Institute published this month. "Even as it causes declines […]

The robots are coming, the robots are coming!

The robots are coming, the robots are coming!

We’re hatching an antibiotics apocalypse because we love cheap chicken Malaysian laws don’t do enough to protect our personal data Stephen Hawking, everyone’s favourite intellectual (they made a movie about him!), has said that right now is perhaps “the most dangerous moment in the development of humanity” thanks to automation.

Yeah, lots of people have cried doom but when it’s Stephen Hawking, you tend to listen.

And what makes this potentially the most dangerous moment? Is it AI run amok? Out of control climate change? An asteroid on a collision course with Earth?Nope, it’s employment.“The automation of factories has already decimated […]