Tag: manufactur

Are robots coming to steal our jobs? – Perspectives from 4 Nobel Laureate Economists

Are robots coming to steal our jobs? – Perspectives from 4 Nobel Laureate Economists

World / Technology / Innovation / Technology / Singapore Technology could be a threat to jobs in early-stage developing countries, mostly in Latin America and Africa, who are highly reliant on labour-intensive, process-oriented manufacturing.

Above image: Michael Spence from NYU Stern; Roger B. Myerson of the University of Chicago; Peter A. Diamond from Massachusetts Institute of Technology (MIT); Robert Merton from MIT and Harvard University; Paul Donovan, Global Chief Economist, UBS (screenshot from Nobel Perspectives Live! video in Singapore/ Credit :UBS)

Everyday now we see headlines with percentages and numbers of jobs threatened by machines. As technology gets smarter […]

Automation will make countries with a youth bulge more volatile

Automation will make countries with a youth bulge more volatile

Automation is on track to disrupt the status quo everywhere, but nations with a youth bulge will be more affected than others. A large youth population whose employment and future is threatened by automation could drive political instability and violence. The risks of a youth bulge

It is becoming quite clear that automation will be able to replace an increasing number of human tasks from driving to answering phones. This has the potential to boost economies and improve quality of life, but for many it will mean an uncertain future and fewer opportunities. Governments must find ways to […]

How will Hong Kong fare in the new wave of automation?

How will Hong Kong fare in the new wave of automation?

A technician prepares SoftBank Robotics ‘Pepper’, a humanoid robot, at the 2017 World Robot Conference in Beijing on August 22, 2017. Photo: Reuters Amazon’s CEO Jeff Bezos has a favourite saying: ‘Your margin is my opportunity’. Photo: AFP With revolutionary developments in robotics, artificial intelligence and machine learning, the concept of automation replacing human jobs is quickly becoming a reality.

But there is serious debate about the consequences of automation on labour and economic markets, with a clear division between optimists and pessimists. Optimists believe that new forms of technology will lead to higher labour productivity, which in turn, will […]

Counterpoint: Unions Are Irrelevant

Counterpoint: Unions Are Irrelevant

Editor’s Note: For an alternative viewpoint, please see: Point: Organized Labor Is Not Going Away

Labor Day is celebrated to recognize the important contributions that U.S. workers make to the economic prosperity of America. But at the same time, it provides an opportunity to reflect on the declining relevance of organized labor to the success of our workers.

A century ago, unions played an important role in the labor movement by boosting workers’ wages, improving working conditions and giving workers a voice in the workplace. Unions were relevant then because organized labor provided a platform by which workers could better […]

What the Industrial Revolution really tells us about the future of automation and work

What the Industrial Revolution really tells us about the future of automation and work

As automation and artificial intelligence technologies improve, many people worry about the future of work. If millions of human workers no longer have jobs, the worriers ask , what will people do, how will they provide for themselves and their families, and what changes might occur (or be needed) in order for society to adjust?

Many economists say there is no need to worry . They point to how past major transformations in work tasks and labor markets – specifically the Industrial Revolution during the 18th and 19th centuries – did not lead to major social upheaval or widespread suffering […]

Manufacturing Adds 36,000 Jobs, Paced by Durable Goods

Manufacturing Adds 36,000 Jobs, Paced by Durable Goods

Senior Editor US manufacturers added 36,000 jobs in August paced by makers of durable goods, especially motorized vehicles and parts. It was the best manufacturing job performance of 2017.

Durable goods industries boosted employment by 28,000 jobs, according a breakdown by sector issued today by the US Bureau of Labor Statistics.

Vehicle and parts production led the way, adding 13,700 jobs, as output geared up following seasonal shutdowns earlier in the summer. US light vehicle sales declined 2.9% for the first seven months of 2017, according to Autodata Corp. Deliveries totaled a record 17.55 million last year. Automakers are scheduled to […]

The Data Center Journal | Automation Spawns New Jobs and Takes Old Ones

The Data Center Journal | Automation Spawns New Jobs and Takes Old Ones

This article was written by Greg Council and first published on August 16, 2017 in The Data Center Journal and an excerpt is provided below: Automation —whether from robotic process automation (RPA), traditional expert-based systems or new deep machine learning—is causing both excitement and anxiety regarding how it affects economies and jobs.

What’s the real driver of job loss? Is it globalization? Automation? Technological innovation? It’s all three and more when assessing the actual reasons for changes in employment. Although you can’t go far on the Internet without finding a doom-and-gloom article blaming automation for future mass unemployment and crying […]

Millennials Think Automation Is Great For Jobs, Survey Says

Millennials Think Automation Is Great For Jobs, Survey Says

Millennials.ITU Pictures/Flickr While many of the older generation of workers are freaking out over potential jobless due to automation, a new survey suggests that millennials aren’t all that worried. In fact, it seems most of the people born in 1985 and onwards believes that technology is great for employment down the road.

The survey was commissioned by the World Economic Forum . 24,766 participants were asked a series of questions with regards to the impact of technology on the economy. The topics covered automation and advancements in artificial intelligence. Of the responders, 78.6 percent said that they did not believe […]

The radical future has to become a radical present. Interview with Nick Srnicek

The radical future has to become a radical present. Interview with Nick Srnicek

Jakub Dymek: What’s behind the idea of a ‘radical future’ on which you and Alex Williams just wrote a book?

Nick Srnicek*: The core argument is the idea that the left has given up on the idea of the future and we have to reclaim it. With changes to the labour market, through automation, we can start building towards something like a post-work society. We have to get rid of the centrality of work to our lives. We have to build alternatives. There are four demands. One, to push for automation – let’s automate all the drudgery and […]

Universal basic income would grow the economy PERMANENTLY, claims left-leaning think tank

Universal basic income would grow the economy PERMANENTLY, claims left-leaning think tank

Giving all Americans a guaranteed salary would boost the economy permanently, a new study has found.

The study, conducted by the Roosevelt Institute, a left-leaning think tank, looks into how a universal basic income (UBI) would impact the American economy.

In such a society, each citizen is entitled to a basic income, which would come in the form of a monthly check. That check would likely not be the person’s primary income, but it would establish a basic standard of living, and provide security for those who find themselves out of work. A new study from the Roosevelt Institute has found […]