Tag: manufactur

SNAP for Week of March 5 to 10

SNAP for Week of March 5 to 10

There will be less white collar jobs available, thanks to tech I find myself disagreeing with the optimistic take Accenture has over the future of technology . For the last 17 years the professional services firm has produced an annual look at how technology is developing, called The Technology Vision and how businesses must adapt. This year, it highlights five areas of emerging technology developments that businesses must deal with in an economy that is transitioning rapidly into a digital era. In its latest Technology Vision, Accenture details how — with advances in artificial intelligence, the Internet of Things […]

Automation and the prospects of economic development

Automation and the prospects of economic development

Technological anxiety has been with us since the first modern industries appeared. The angst toward new technologies is mainly about the fear of widespread substitution and displacement of human labor by machines. Historical experiences in early industrialization have shown that new technologies used in production initially had disruptive effects to labor and existing production assets. However, new technologies also ushered in the birth of new industries, created new jobs, becoming the source of productivity, economic growth and development.

Automation, like most new labor-saving technologies, has an effect of raising the comparative advantage and value of jobs that only humans can […]

‘Made in America’ label not fading

‘Made in America’ label not fading

“America doesn’t make anything anymore.”

It’s been a sad refrain in factory towns where brick and concrete crumble around the padlocked gates of what once was the city’s largest employer. It’s something politicians have said, only to promise that with their help, we can make things again. It’s something shoppers might deduce when peeking at the tags of their most recent purchases.

But it isn’t true. Enlarge American factories are more productive now than they have ever been. That’s the case even in so-called rust belt states. Ohio manufacturers likely will set a record this year for the value of […]

Tom Saler: Many of us may be replaced by robots

Tom Saler: Many of us may be replaced by robots

(Photo: Journal Sentinel file photo) There has never been a better time to be an American robot.

Even without nativist economic policies that could drive up labor costs, trigger worker shortages and provide businesses with additional incentives to automate, machines appear set to replace their human creators in ever-larger numbers. Multiple studies suggest that between one-third and one-half of all professions will be vulnerable to automation over the next two decades.

The degree of vulnerability is not only a function of the traditional distinction between manual and cognitive labor; rather, the rise of artificial intelligence and “deep learning” machines could eventually […]

How Do We Protect Ourselves Against The Rise Of The Machines?

How Do We Protect Ourselves Against The Rise Of The Machines?

​Last month, we heard both Elon Musk and Bill Gates voice concerns over the pace of change within many sections of the labour market, with robots and automation making vast swathes of the workforce redundant. Driverless cars are putting taxi drivers, school bus drivers (accounting for over 660,000 US employees), and truck drivers, which provide work for approximately one million people in the US, at risk.

The concept is not new – the luddite movement in the nineteenth century lasted over five years but it is the speed of change that is surprising many. Over a century ago in the […]

The real reasons behind the fall in America’s manufacturing jobs

The real reasons behind the fall in America's manufacturing jobs

© Getty Images This morning’s employment report shows a healthy increase of 235,000 total (nonfarm) jobs last month, pretty much across the board, in all major categories except for retail services. The manufacturing sector alone gained 28,000 jobs — a stronger showing than we’ve seen in a long time.

But we shouldn’t break out the champagne over one month’s worth of manufacturing jobs. Compared with roughly a year ago, manufacturing has been essentially flat, up just 7,000 jobs. Looking further back it becomes obvious that manufacturing just has not followed the typical storyline of an industry merely living through and […]

Experts: Because of AI, Millions of People Are at Risk of Unemployment

Experts: Because of AI, Millions of People Are at Risk of Unemployment

The Future of Employment

Machines are on the rise. While they aren’t out to get you just yet — and might never be — they are already gunning for one thing: your job. If you work in the transportation industry , manufacturing , some sectors of the information technology industry , and maybe even in insurance , law , or taxation , you may already be obsolete.

The point is, increased automation is expected to dramatically disrupt worldwide employment as early as 2020 . Recent developments in artificial intelligence (AI) and robotics are making this change possible. These developments, of […]

Jobs and the Artificial Intelligence Debate

Jobs and the Artificial Intelligence Debate

One of the best parts of writing the Afternoon Edition each day is that I get to explore all kinds of interesting topics.

Two of those recent topics continue to be all over the news, and they are the issues of robots and automation , and artificial intelligence and the "Singularity."

These topics do materially affect markets, although their effect may not be as acute as, say, a monthly employment report.And speaking of which, we got a new monthly employment report this morning, as February saw 235,000 new non-farm payroll jobs created.That’s good economic news; however, I wonder how many […]

Robots aren’t killing the American Dream. Neither is trade. This is the problem.

Robots aren’t killing the American Dream. Neither is trade. This is the problem.

Robots named Thunderbird and Cyclops lower a Tesla vehicle onto the assembly line at Tesla Motors factory in Fremont, Calif., in 2016. (Joseph White/Reuters) “ No, robots aren’t killing the American Dream ,” argued the New York Times editorial board in February. As evidence, the Times emphasized that labor productivity and capital investment have decelerated in the new century. In theory, that wouldn’t be happening if automation were the main reason that the middle class has been shedding jobs.

Unfortunately, that argument leads many people to conclude that globalization and liberalized international trade must be what’s hurting U.S. manufacturing. That’s […]

Automation is coming for your job!!

Automation is coming for your job!!

We’ve gone through speedy, and at times shocking, technological progress over the past twenty or thirty years.

I’m 30 and remember watching VHS tapes. The tapes were expensive, wore out, were difficult to store, degraded, and weren’t mobile. We can now get much better video quality, on demand, with no storage need, no worries about wear or degradation, virtually any time and anywhere on any modern mobile device. That’s just an example of what twenty years ago would have seemed impossible is now routine.

We’ve already been through a major wave of job loss in manufacturing and other blue collar industries. […]