Tag: manufactur

‘Ensure minimum income for those losing jobs due to automation’

'Ensure minimum income for those losing jobs due to automation'

NEW DELHI: With increasing concerns over loss of jobs, arising out of artificial intelligence (AI) and robotics, an Assocham-PwC study has asked to ensure a minimum income to those displaced, along with basic health facilities for the families in stress.

“In light of technology advances, certain sectors are expected to experience shrinkage of employment demand as robotic systems and algorithms take up several tasks. It can be expected that IT, manufacturing, agriculture, forestry etc will experience such a demand shift,” the study noted.

Quoting Oxford University researchers Carl Frety and Michael Osborne, based on 702 occupational groupings, workers in tele-marketing, hand […]

‘Devise backup minimum income schemes for those losing jobs due to automation’

‘Devise backup minimum income schemes for those losing jobs due to automation’

MANGALURU: With the Indian IT and other industries facing some of the daunting challenges from protectionism in the US and Artificial Intelligence (AI), an ASSOCHAM-PwC study has made out a strong case for government -industry schemes which ensure a minimum income to those displaced , along with basic health facilities for the families in stress.

It said there are concerns in a number of industries related to loss of jobs, arising out AI and robotics and the solution lies in facing the issue upfront and skilling up the country’s human resource.

“In light of technology advances, certain sectors are expected to […]

Feeling The Effects Of Robotics On Jobs Growth

Summary

Was last month’s poor BLS employment situation the beginning of the impacts of robotics?

The high rate of jobs growth seen since the Great Recession was likely only a result of recovery, and not much real new growth.Employment growth has been higher than population growth, and this cannot continue.In August of 2012, I penned a post on labor costs stating " labor costs are no longer a primary factor in determining where business should locate. "This quote was framed within a general discussion of factors used in selecting business / manufacturing criteria for determining where to locate. In hindsight, […]

Wiping Out Jobs Growth With Robotics

Wiping Out Jobs Growth With Robotics

In August of 2012, I penned a post on labor costs stating " labor costs are no longer a primary factor in determining where business should locate. "

This quote was framed within a general discussion of factors used in selecting business / manufacturing criteria for determining where to locate. In hindsight, a more precise statement would have been " automation / robotics are eliminating labor costs as the primary factor in determining where a business should locate ".

In that post, I stated that robotic operating systems cost initially $250,000 per year, and concluded: In a 24 hour / seven […]

How to Get Rich From the Robot Revolution

How to Get Rich From the Robot Revolution

He was referring to a topic I’ve written about here before: the robot revolution. Nebraska Senator Ben Sasse wrote a recent opinion piece in The Wall Street Journal , declaring that we are living through “the largest economic disruption in recorded history.”

Millions of good-paying jobs are rapidly being eliminated, thanks to increasing automation.

Not just field laborers and factory workers. Machines are threatening financial advisors, bankers, accountants and other white-collar professionals, including doctors and lawyers.To hear some folks describe it, this is the beginning of the end. Technology – particularly robotics and artificial intelligence – will destroy not just employment […]

David Moon: Opportunity costs should drive trade policies

David Moon: Opportunity costs should drive trade policies

A politically charged debate about foreign trade, tariffs and domestic jobs quickly obfuscates the economic, not political, reason a country engages in international trade: to improve that country’s overall economy.

The explanation is counterintuitive, but true nonetheless. Ignoring political considerations — an unrealistic fantasy — a country should import any good that an overseas trading partner can produce at a lower opportunity cost, regardless of which country could produce the item at the lowest absolute cost.

The U.S. is currently the world’s leading aviation manufacturer, responsible for 40 percent of the world’s aircraft; Mexico produces 45 percent of the world’s avocados, […]

Wiping Out Jobs Growth With Robotics

Wiping Out Jobs Growth With Robotics

Shutterstock photo In August of 2012, I penned a post on labor costs stating " labor costs are no longer a primary factor in determining where business should locate. "

This quote was framed within a general discussion of factors used in selecting business / manufacturing criteria for determining where to locate. In hindsight, a more precise statement would have been " automation / robotics are eliminating labor costs as the primary factor in determining where a business should locate ".

In that post, I stated that robotic operating systems cost initially $250,000 per year, and concluded: In a 24 hour […]

A top Silicon Valley investor predicts robots will change our economy ‘on the order of the Industrial Revolution’

A top Silicon Valley investor predicts robots will change our economy 'on the order of the Industrial Revolution'

The robots are coming. Chris McGrath/Getty In San Francisco, you can order food from your favorite taqueria and have it delivered by a self-driving bot , or grab a latté from a robot-powered coffee kiosk.

Robots are joining the workforce in droves, and their arrival threatens to take away a number of jobs held by humans.

Sam Altman, president of startup accelerator Y Combinator, recently warned a crowd at San Francisco’s Commonwealth Club that virtually no jobs are safe. Altman, who founded a nonprofit artificial intelligence research company, OpenAI, with Elon Musk, called on the tech industry to find solutions for […]

Will automation become the next job killer?

Will automation become the next job killer?

Automation is on track to become the ultimate job killer. In fact, much like the industrial revolution 200 years ago, the automation of human tasks is revolutionising both the workplace and society. What this means for the manufacturing sector can be both thrilling and frightening depending on whose point of view you take.

According to a recent article in phys.org, the fear of losing our jobs to machines is not new. With some forecasts indicating that within 20 years, 35 per cent of all UK jobs are at risk of vanishing from automation, it might be a good time to […]

Automation Could Replace Over 99% of U.S. Jobs Sooner Than You Think

Automation Could Replace Over 99% of U.S. Jobs Sooner Than You Think

Robots Do It Better and Automation Could Eliminate 99% of U.S. Jobs

Until recently, many have feared job losses resulting from an influx of immigrants. That argument says that migrants would be willing to work for less money. Yet, apart from economic studies to the contrary, Americans should worry more about robots taking jobs. Yes, the biggest threat to U.S. jobs comes from automation.

Automation is coming faster than anybody could have predicted. Indeed, nobody could have expected the wave of robots taking over jobs. Consider that robots, or automation, has eliminated just one job in the past 60 […]