AI has become the buzzword of the world, and an integral part of almost every company’s digital transformation agenda. AI users have become producers of AI tools and services. Corporate leaders and even the White House have come with forward with a directive on promotion, promulgation, and advancement of artificial intelligence.
On February 11, 2019, President Trump signed Executive Order 13859 announcing the American AI Initiative. Executive Order 13859 is the United States’ national strategy on artificial intelligence. 4000+ companies in the world are in the business of producing AI tools, products and services. AI and its impact on climate […]
The global Computer Numerical Control (CNC) machine market is expected to reach a staggering $117 billion by 2027 . Simultaneously, the CNC industry is rapidly evolving, implementing modern-day technologies designed to increase precision, efficiency, reduce waste, and cycle time. The growing need for reducing operating costs of production capacities, human resources, and errors in component production, led to the growth of manufacturing automation and higher demand for latest technology CNC machines. In the meantime, numerous huge manufacturing facilities are increasingly utilizing CNC lathes to perform cutting, drilling, knurling, deformation, facing, and turning operations, all while producing finished components or […]
Technology and ”industrialization” are reshaping services as they did manufacturing
These days, as a global pandemic decimates jobs and commerce, many of us can’t wait for the economy to get back to normal. But ”normal” — in the business sense, anyway — has itself been a rapidly changing thing in recent years, and the wide array of economic changes underway seem certain to accelerate rather than slow.
In other words, even when the virus is under control, normal is going to look a lot different than it used to.That’s one takeaway from a massive examination of the effect on jobs […]
Are robots going to steal your job? No. However, they already have. Think about it. From customer service to transportation, there are tons of instances where machines have replaced humans. Both automation and artificial intelligence are going to significantly impact the job market of the future.
Automation is not a new concept. Think about the industrial revolution. The increased accessibility to machinery eliminated many employment opportunities. Automation vs. AI
People often get confused about the differences between AI and automation . By definition, automation is the implementation of hardware or software that allows for automated actions. In contrast, artificial intelligence […]
With more than 40 million Americans unemployed amid the coronavirus pandemic, there are thousands of jobs unlikely to ever return. Whether that’s because businesses will ultimately shutter (or permanently reduce staff) or industries will be reinvented, there are myriad unknowns when trying to chart projections for the economic future of the U.S. economy. A paper released in May 2020 by the Becker Friedman Institute at the University of Chicago projected that 42% of layoffs caused by the pandemic will be permanent .
In addition to fewer jobs being available in certain sectors, other employment sectors as a whole are at […]
Is China to blame for all the manufacturing jobs Wisconsin lost in recent decades?
That’s the claim from a Facebook video making the rounds in the runup to the November 2020 presidential election.
President Donald Trump and former Vice President Joe Biden are ramping up their own campaign ads, but an avalanche of outside groups are trying to get their own messages across.A June 4, 2020 Facebook video from conservative SuperPAC America First Action attacks the former vice president for not understanding "the threat" China poses to the United States.The video features Biden and then-Secretary of State Hillary Clinton at a […]
In his treatise, “The Wealth of Nations” (1776), Scottish economist Adam Smith laid the foundations of classical free-market economic theory. He postulated that rational self-interest and competition can lead to economic prosperity for all, and that pursuing our own self-interest unintentionally benefits society as a whole. But he was wary of businessmen and warned of collusion among them forming conspiracies and monopolies to increase prices as high as they could. He further warned that a business-dominated political system would further the interests of business and industry over consumers by influencing legislation. He pointed out that their interests differ from, […]
Credit: GE Aviation Ask the Editors: The Aviation Week Network invites our readers to submit questions to our editors and analysts. We’ll answer them, and if we can’t we’ll reach out to our wide network of experts for advice.
What will happen to the aerospace industry when 100,000 jobs are lost in the next two years?
Senior Business Editor Michael Bruno responds: Workers will be fortunate if it is only 100,000 jobs lost. We know already that tens of thousands of layoffs—not furloughs but permanent workforce reductions—have been set in motion. More are expected in the coming […]
Image Courtesy: reply.com Advances in the field of robotics which is a mix of computer science, mechanical and electronics engineering, and science have implied that machines or related types of automation currently do the work of humans in a wide range of settings, for example, medicine, where robots perform medical procedures previously done by the surgeon’s hand. Robots have made it simpler and less expensive for employers to complete work. The drawback, in any case, is that some sensibly well-paying jobs that gave white-collar class work to people have become the area of machines.
The present workforce faces various challenges […]
The COVID-19 pandemic has exposed a new vulnerability among firms that rely on human labour. In order to comply with public health directives on physical distancing, many businesses have had to completely shut down their operations for months. Others remained functional thanks to teleworking, which many intend to prolong and even adopt permanently. As experts contemplate the long-term repercussions of the pandemic on the economy, many expect firms to ramp up their adoption of new technologies to better weather the post-pandemic recession and insulate themselves from future health crises.
Just a few years ago, policy-makers became concerned about the prospect […]