Tag: manufactur

From robots to retraining: How automation is reshaping the workforce

From robots to retraining: How automation is reshaping the workforce

Ajay Malgaonkar

The effect of automation on the employment landscape has been profound, and many experts believe that eventually, automation and AI will displace people from numerous professions. Despite potential productivity gains, automation and AI have led to job loss and increased economic disparity. According to a McKinsey Global Institute study, automation could put approximately 800 million jobs at risk by 2030.

Industries like manufacturing, transportation, retail, and customer service have already experienced substantial job losses due to automation. It has now become the need of the hour for tech leaderships to get a better insight into the advantages and […]

The Automation Revolution: Job Creation or Job Destruction?

The Automation Revolution: Job Creation or Job Destruction?

Image Credit: Pixabay As we embrace technological advancements, the concept of automation looms large in discussions about the future of work. The idea of machines taking over human jobs can be both exciting and alarming. While some argue that automation will lead to massive job destruction, others believe it will pave the way for new opportunities and job creation. In this blog post, we will delve into the automation revolution and explore whether it will ultimately result in job creation or job destruction. The Fear of Job Destruction

One of the primary concerns surrounding automation is the fear that […]

Generative AI can unlock trillions of dollars in value in productivity gains for the global economy: McKinsey

Generative AI can unlock trillions of dollars in value in productivity gains for the global economy: McKinsey

A new report published by McKinsey & Company, The economic potential of generative AI: The next productivity frontier, finds that generative AI could add between $2.6 trillion and $4.4 trillion worth of annual productivity globally. It analyzes 63 new use cases across 16 business functions that could deliver those returns, which are comparable to the UK 2021 GDP of $3.1 trillion.

McKinsey estimates that, excluding the effects of generative AI, artificial intelligence, and analytics use cases could deliver $11 trillion to $17.7 trillion in value to the global economy annually. Adding generative AI to these use cases could increase that […]

Welcome Your New Digital Workers

getty Digital technology evokes mixed feelings—love, hate, fear and anxiety. Ten years ago, Jeopardy champ Ken Jennings captured that ambivalence during his loss to IBM’s Watson with this joke: "I for one welcome our new computer overlords."

As a business leader, you face real challenges emanating from the ever-expanding use of computers, including cybersecurity and privacy. But the case for optimism is strong. Rather than surrendering to digital technology, you are much better off leveraging it, including the capabilities of software robotics. These bots and related systems represent a new class of "digital workers" trained for a wide variety of […]

Dying Professions to Avoid

Dying Professions to Avoid

John Pugliano, author of "The Robots Are Coming: A Human’s Survival Guide to Profiting in the Age of Automation," sees plenty of white-collar jobs that will be threatened by automation. "Bottom line, any routine job that can easily be defined by a mathematical or logic equation will be at risk," Pugliano said. "Opportunity will be [there] for those that can create new products/services or solve/fix unexpected problems."

So your accountant may not have a job in the future, but plastic surgeons and emergency room doctors should do well. And plumbers, Pugliano said, will always have work.

Pugliano and other experts contacted […]

Impact of AI on jobs: Substitution or displacement?

Impact of AI on jobs: Substitution or displacement?

Brookings Institution notes every tech shift tends to create more jobs than it destroys

Pikom maps out four courses of action, including to equip workforce with AI-related skills

The National Tech Association of Malaysia (PIKOM) expects AI to become pervasive across the domestic business landscape over the next five years, especially since both employers and employees seem to be embracing AI. In this third column of The Sharp End, we have to address the launch of the natural language processing tool ChatGPT in November last year that has intensified the debate over the impact of generative artificial […]

The Future of Work: How Automation and AI Are Redefining Jobs

The Future of Work: How Automation and AI Are Redefining Jobs

Science & Tech

It is no secret that automation and artificial intelligence (AI) are rapidly reshaping the traditional outlook of the workplace. The evolution unfolding before our eyes is a sight to behold as humanity embraces technological advances. Artificial intelligence enhances human capabilities by allowing professionals to use new tools and data-driven insights. (Unsplash) Published on :

By : Marius Ilgauskas It is no secret that automation and artificial intelligence (AI) are rapidly reshaping the traditional outlook of the workplace. The evolution unfolding before our eyes is a sight to behold as humanity embraces technological advances. The idea of […]

The Turing Transformation: Artificial intelligence, intelligence augmentation, and skill premiums

The Turing Transformation: Artificial intelligence, intelligence augmentation, and skill premiums

Almon Brown Strowager, an American undertaker from the 19 th century, allegedly angry that a local switch operator (and wife of a competing undertaker) was redirecting his customer calls to her husband , sought to take all switch operators to their employment graves. He conceived of and, with family members, invented the Strowager switch that automated the placement of phone calls in a network. The switch spread worldwide and, as a consequence, a job that once employed over 200,000 Americans has almost disappeared.

While the pioneer researchers in new areas of artificial intelligence (AI) such as machine learning, deep learning, […]

AI Revolution: The Jobs Most Likely to Vanish and Emerge in 2023

global peo Job Cuts Are Just the Beginning: AI’s Ongoing Impact on Employment

PALO ALTO, CALIFORNIA, UNITED STATES, June 12, 2023/ EINPresswire.com / — The rise of artificial intelligence (AI) is inevitable. It has the potential to transform our economy and the way we live and work. But it also poses a risk to many jobs. More: https://www.mckinsey.com/featured-insights/future-of-work/ai-automation-and-the-future-of-work-ten-things-to-solve-for
In May, a British telecommunications company announced in an earnings presentation plans to cut about 55,000 jobs by 2030, many of which were previously planned cuts that would come with finishing certain construction projects.
Read More: https://timesofindia.indiatimes.com/gadgets-news/bt-plans-to-cut-up-to-55000-jobs-by-2030-job-cuts-break-down-and-more/articleshow/100335238.cms A new study […]

The Ominous Rise of AI: A Dark Shadow Cast Upon Human Employment

Introduction:

The relentless march of artificial intelligence (AI) has stirred a sense of foreboding and trepidation in society. While the promises of AI are captivating, a deep-rooted fear has taken hold. Day by day, AI grows more menacing, casting an ominous shadow over human employment and our very survival. This article delves into the chilling side of AI, exploring its potential to render humans jobless and instill a profound sense of fear.

T he Displacement of Human Workers: One of the most unnerving consequences of AI’s progress is the displacement of human workers. As machines become increasingly adept at intricate […]