Tag: manufactur

Vardi: Does automation doom the future of work?

Two schools of economists haggle over the ultimate impact of automation on employment.

The Neoclassicals soothe us with human resilience: jobs lost will eventually be balanced by new jobs found. The Neo-Luddites reply that technological advances have changed the rules, and many jobs will be lost forever.

“So, who is right? Nobody knows,” said Moshe Y. Vardi, the Karen Ostrum George Distinguished Service Professor in Computational Engineering at Rice University, who suggests we examine the past and present before drawing grand conclusions about the future.Vardi’s lecture, “Humans, Machines and Work: The Future is Now,” was sponsored by the Ken Kennedy Institute […]

Automation, the hitch in vows to bring back manufacturing?

Automation, the hitch in vows to bring back manufacturing?

ALLENTOWN, Pa. (AP) — In the 1960s, Lehigh Valley high school graduates had a lot of options.

Manufacturers such as Air Products, Ingersoll Rand and Bethlehem Steel offered well-paying jobs that promised a route to the middle class.

"You would expect to go get a job, get married, have kids, get a pension one day and everyone would be fat, dumb and happy," said Frank Behum, who worked at Bethlehem Steel for more than three decades before retiring in 1997, months before the company went under.Nothing really replaced those jobs. They required hard work under sometimes grueling conditions, but they paid […]

The delusion of improved skills

The delusion of improved skills

cartoon Everybody agrees that better education and improved skills, for as many people as possible, is crucial to increasing productivity and living standards and to tackling rising inequality. But what if everybody is wrong?
Most economists are certain that human capital is as important to productivity growth as physical capital. And to some degree, that’s obviously true. Modern economies would not be possible without widespread literacy and numeracy: many emerging economies are held back by inadequate skills.
But one striking feature of the modern economy is how few skilled people are needed to drive crucial areas of economic activity. […]

Is a Robot After Your Job?

Is a Robot After Your Job?

With the economy the way it is, most manufacturing workers are afraid that their company will move out of the country, or that someone who will work for less will get their job. Now, there is another fear—is a robot after your job? In some factories, robots already outnumber the human workers. The general factory workforce is going through radical changes with more robots being employed at a vigorous pace. How will this affect your job? An Oxford study reports that 47% of all jobs will be taken over by a robot within the next twenty years.

Robotic technology is […]

Study: Huge job boost from turning to machines

Study: Huge job boost from turning to machines

Switzerland can expect 270,000 new jobs created through the first quarter of this century due to workplace automation transforming the economy, a leading consulting firm said on Thursday.

The report from Deloitte concludes that the phenomenon of automation is having a “positive impact on the Swiss labour market” by creating many more jobs than are being replaced by machines. The engine behind that, it says, would be lower prices for goods and higher wages.

“Overall, increasing automation brings considerable advantages for the Swiss economy as a whole as well as for companies,” Deloitte said in a statement . “It also […]

Another warning. The world is about to run low on JOBS as automation takes over

Another warning. The world is about to run low on JOBS as automation takes over

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More data and more warnings . The fourth industrial revolution has started. It will be jobless and many people will lose their employment, or be forced to compete for their jobs. The result is, you will probably be unemployed, or accept low wages to survive. What will we do in a world without work? LOS ANGELES, CA (California Network) – Just a few years ago, forecasters issued a dire warning. The world’s workers are in danger of running out of work. As the fourth […]

Opinion: Workers will simply try to survive, rather than prosper, as tech takes over the economy

Opinion: Workers will simply try to survive, rather than prosper, as tech takes over the economy

For most people, a secure, well-paid job is the difference between a reasonable life and penury. Today, changes in the structure of the work force driven by globalization and technology make this objective increasingly elusive.

Technology has exacerbated declines in employment and incomes by eliminating tasks and “de-skilling” many jobs.

Robotics and complex computerized equipment has successfully replaced skilled labor. Computer software is now replacing journalists, synthesizing news items electronically by crawling the internet. Even traders in financial markets are being replaced by automated algorithms.In the late-20th century, global supply chains allowed lower-paid workers to displace expensive counterparts in more developed […]

IT sector’s transformation comes when India is struggling to create jobs: Is it in a downward spiral?

IT sector's transformation comes when India is struggling to create jobs: Is it in a downward spiral?

There has been some worrying news on the side of the economy which has remained confined to the business newspapers. It concerns India’s large information technology and software industry and companies like Infosys, TCS and Wipro. These firms, which were expanding quickly for the last two decades, have all slowed down.

They are now growing at single digits annually and even that is a struggle. This has caused speculation that the industry is in a death spiral in India. One reason for this slowing down is that automation is replacing human capital. This affects the services being offered by these […]

Automation to cause huge job loss in IT sector

There has been some worrying news on the side of the economy which has remained confined to the business newspapers. It concerns India’s large information technology and software industry and companies like Infosys, TCS and Wipro. These firms, which were expanding quickly for the last two decades, have all slowed down.

They are now growing at single digits annually and even that is a struggle. This has caused speculation that the industry is in a death spiral in India. One reason for this slowing down is that automation is replacing human capital. This affects the services being offered by these […]

Automation to cause huge job loss in IT sector

Automation to cause huge job loss in IT sector

There has been some worrying news on the side of the economy which has remained confined to the business newspapers. It concerns India’s large information technology and software industry and companies like Infosys, TCS and Wipro. These firms, which were expanding quickly for the last two decades, have all slowed down.

They are now growing at single digits annually and even that is a struggle. This has caused speculation that the industry is in a death spiral in India. One reason for this slowing down is that automation is replacing human capital. This affects the services being offered by these […]