Tag: manufactur

Tips for Outsmarting Job-Stealing Robots

Attention, Americans: Robots in the U.S. are stealing jobs, reducing wages and promoting inequality.

That’s according to new research published by the National Bureau of Economic Research. Economists Daron Acemoglu of the Massachusetts Institute of Technology and Pascual Restrepo of Boston University were behind the study.

The automation analysis looked at industrial robots’ impact in the U.S. between 1990 and 2007, according to a report on the research in the MIT Technology Review . During that period, automation led to the loss of up to 670,000 American jobs, with manufacturing workers taking the hardest blow. The MIT Tech Review says:Adjusting for […]

Six jobs are eliminated for EVERY robot introduced into the workforce, new report reveals

Six jobs are eliminated for EVERY robot introduced into the workforce, new report reveals

People have been losing jobs to robots since the 1990’s, a new report has revealed.

When one or more robots was introduced into the workforce between 1990 and 2007, it led to the elimination of an average of six jobs.

During those years, robots accounted for the loss of about 670,000 manufacturing jobs, and this is expected to rise in the coming years as robots continue to take over tasks previously performed by people.Scroll down for video The effects of automation on employment for men are about 1.5-2 times large than those for women The report , published by the National […]

The Real Challenge for U.S. Industry

The Real Challenge for U.S. Industry

The conventional wisdom about the decline in American manufacturing jobs is that automation is to blame—“Most US manufacturing jobs lost to technology, not trade,” a Financial Times headline claims. Similarly, a December New York Times article self-assuredly states, “The Long-Term Jobs Killer Is Not China. It’s Automation,” as does CNN Money in its article, “Rise of the machines: Fear robots, not China or Mexico.”

This assessment of the state of U.S. manufacturing rests on two statistics that seem to be in tension. First, employment in U.S. manufacturing has plunged, down 30 percent since 2000. Secondly, manufacturing output has held steady […]

Congress Beware: Automation Inevitable

One of the most salient issues in the 2016 election was America’s changing manufacturing landscape, which arguably handed Donald Trump the presidency. However, all the half-truths about “bad trade deals” sending jobs overseas distracted from the real culprit behind the death of the American factory worker — automation. Research suggests that up to 85 percent of all manufacturing jobs lost over the last several decades were lost to technological strides, not globalization.

In an interview with Mike Allen of Axios, Treasury Secretary Steve Mnuchin’s comments on the rise of artificial intelligence (AI) were completely and utterly baffling, particularly in light […]

A robot job invasion: U.S. feds shrug it off, Canada feds fret, so who’s right?

A robot job invasion: U.S. feds shrug it off, Canada feds fret, so who's right?

WASHINGTON — Should we be preparing for the coming invasion of job-stealing, career-crushing robots? It’s a question that’s moved from science-fiction novels to the tip of policy-makers’ tongues.

Canadian and American policy-makers have just delivered very different answers.

Canada’s finance minister tabled a budget that mentioned artificial intelligence and skills training dozens of times, with entire sections on each subject and $5.2 billion for worker re-training.His U.S. counterpart: not so worried about a wave of job-killing automation."It’s not even on our radar screen," U.S. Treasury Secretary Steve Mnuchin told the Axios website last week. "(It’s) 50-100 more years (away)… I’m not […]

YUM CEO: Machines could ‘run the world’ by the mid to late 2020s

YUM CEO: Machines could 'run the world' by the mid to late 2020s

robot manufacturing factory In an interview with CNBC’s Sarah Eisen on Tuesday , Yum Brands CEO Greg Creed spoke about how he sees technological innovation developing over the next decade or two, and how his industry has already seen changes.

"I’m not sure we’re going to have, you know, robots replacing people soon. Though, to be fair, I was in Shanghai just recently at a new Pizza Hut concept store and I was greeted by a robot. And a robot actually greeted me at the door, took me to my table," he told CNBC. He added that he is impressed […]

Robots are killing jobs after all

Robots are killing jobs after all

So much for the utopian techno future

Industrial robots are depressing wages and increasing unemployment, according to a paper published by the National Bureau of Economic Research, a private, non-profit, non-partisan research organization.

Written by MIT economists Daron Acemoglu and Pascual Restrepo, " Robots and Jobs: Evidence from US Labor Markets " [subscription required] appears only days after Treasury Secretary Steve Mnuchin dismissed the possibility of automated systems taking jobs from people, saying , "It’s not even on our radar screen."Similar to the cosmological conundrum about whether the universe will continue expanding indefinitely or collapse upon itself, the impact of […]

The Rise of the Robots, Reviewed

The Rise of the Robots, Reviewed

Editor’s Note: This is the first in a series of reviews of books, written anytime, anyplace, fiction or nonfiction, that help us to understand contemporary trends in the city. Got an idea for a book that you think puts Dublin in context? Email us at arts@dublininquirer.com.

* * *

At the Spar on Camden Street, a machine makes my coffee. At the Tesco up the way, another machine sells me my groceries. At the Bank of Ireland, a little further on, I can withdraw or deposit money through another machine.All these tasks were once performed by people, who were paid […]

On Automated Future, Treasury Secretary is ‘Out of Touch’

On Automated Future, Treasury Secretary is 'Out of Touch'

Last week, President Donald Trump’s New Treasury Secretary, Steven Mnuchin, said he’s “not worried at all” about automation , stirring up a lot of controversy. Then, on Tuesday, in an interview on CNBC, Democratic Powerbroker and entrepreneur, also neighbor to Trump at Mar-a-Lago in Florida, Jeff Greene explained his world views, saying that Mnunchin is “completely out of touch with reality.”

“I think he’s sort of missing it on the business thing,” Greene said. “I mean, 88 percent of manufacturing jobs were lost because of technology. So, to build a wall and keep Mexicans or Latin Americans out of the […]

Tech will lead to new sub-prime crunch

Tech will lead to new sub-prime crunch

In October 2016, two leading P2P platforms in the U.S. — Lending Club and Prosper — announced a new increase in interest rates for lower-grade loans. The decision was made in order to sustain investor demand, as the model platforms are operating under challenges faced during the last months due to compliance issues with Lending Club and the general turbulence of the P2P lending industry.

However, keeping the investor demand stable is not the only reason for recent changes — as Lending Club announced, delinquencies are growing, especially when it comes to high-risk loans.

October 2016 was not the first time […]