Tag: mobility

Artificial intelligence to impact 40pc global jobs, widen labour income inequality: IMF

Artificial intelligence to impact 40pc global jobs, widen labour income inequality: IMF

Around 40 percent of global employment is exposed to AI (artificial intelligence), the International Monetary Fund (IMF) says, adding that the advanced economies are at greater risk but also better poised to exploit the benefits than emerging market and developing economies.

In advanced economies, about 60 percent of jobs are exposed to AI, due to the prevalence of cognitive-task-oriented jobs, says the IMF in the latest report “Gen-AI: Artificial Intelligence and the Future of Work”.

The world’s top financial institution says AI is set to profoundly change the global economy, with some commentators seeing it as akin to a new industrial […]

Artificial intelligence to impact 40pc global jobs, widen labour income inequality: IMF

Artificial intelligence to impact 40pc global jobs, widen labour income inequality: IMF

Gaza Dispute Says advanced economies are at greater risk, but also better placed to take advantage

WASHINGTON (Web Desk) – Around 40 per cent of global employment is exposed to AI (artificial intelligence), the International Monetary Fund (IMF) says, adding that the advanced economies are at greater risk but also better poised to exploit the benefits than emerging market and developing economies.

In advanced economies, about 60 per cent of jobs are exposed to AI, due to prevalence of cognitive-task-oriented jobs, says the IMF in a latest report “Gen-AI: Artificial Intelligence and the Future of Work”.The world’s top financial institution says […]

Beyond the Machine: Understanding the Surprising Dynamics of Automation and Employment

Beyond the Machine: Understanding the Surprising Dynamics of Automation and Employment

Beyond the Machine: Understanding the Surprising Dynamics of Automation and Employment

Neil Anderson

· Follow 3 min read·6 hours agoAs technology continues to progress at an unprecedented pace, we’re faced with a compelling paradox that calls into question our assumptions about automation and its influence on the job market. Despite the widespread belief that machines and technology would replace human labour, the reality has unfolded quite differently, leading to a surprising increase in certain job sectors, such as bank tellers, despite the advent of ATMs. This phenomenon sparks an intriguing discussion about the resilience and adaptability of human […]

Technological Unemployment

Technological Unemployment

What is Technological Unemployment? What is Technological Unemployment?

Technological unemployment is a phenomenon where advancements in technology , such as automation and artificial intelligence (AI), replace human jobs.

This concept has become increasingly relevant as new technologies change the way we work, creating efficiencies but also displacing workers in various industries.The modern economy faces a complex challenge: while technology can streamline operations and open new avenues for innovation , it also raises concerns about the future of employment and the kinds of skills that will be valued.Understanding technological unemployment is important for several reasons. It helps policymakers develop strategies to […]

Generative Artificial Intelligence Could Increase The Racial Wealth Gap By $43B, Report Says

Generative Artificial Intelligence Could Increase The Racial Wealth Gap By $43B, Report Says

Two things can be true at once. For instance, artificial intelligence (AI) could lead to advancement, but it could also lead to regression.

According to Forbes, a study by McKinsey’s Digital Practice and the McKinsey Institute for Black Economic Mobility showed that almost $2 trillion “in wealth” is expected to be created from generative AI in the United States — resulting in $500 billion reportedly going to households. What this means is that a “projected 143.4 million U.S. households in 2045 will get an average increase of $3,400 in new wealth.”

However, on the other end, since Black households are […]

The Automation of General Intelligence

The Automation of General Intelligence

An illustration of Henry Case and Molly Minions from Neuromancer, painting by Juan Giménez. We want to ask the right questions. How do the tools work? Who finances and builds them, and how are they used? Whom do they enrich, and whom do they impoverish? What futures do they make feasible, and which ones do they foreclose? We’re not looking for answers. We’re looking for logic.
—Logic Magazine manifesto, 20171 We live in the age of digital data, and in that age mathematics has become the parliament of politics. The social law has become interwoven with models, theorems […]

AI will create more jobs than it kills

AI will create more jobs than it kills

Artificial intelligence holds far-reaching consequences for modern economies. Many of the jobs we are asked to do will change; a lot of them might disappear altogether. Facing this existential upheaval, experts advise that smart AI regulation will be needed — well, who could object to smart regulation? But the forms it should take, its methods and even its purposes, are unclear.

A good start might be to frame the problem more carefully. Easier said than done, perhaps, because AI is in many respects not technological progress as usual. Even so, earlier technological revolutions have relevant lessons. One worth pondering concerns […]

What Is Automation Robotics

What Is Automation Robotics

Benefits of Automation Robotics

Automation robotics has revolutionized industries across the globe, providing numerous benefits for businesses of all sizes. From increased productivity to improved safety, the advantages of automation robotics are undeniable. Let’s explore some of the key benefits:

> Enhanced Productivity: One of the primary benefits of automation robotics is its ability to significantly increase productivity. Automated systems can perform tasks with greater speed, precision, and efficiency compared to human workers. This leads to higher output levels, shorter production cycles, and improved overall operational efficiency. Cost Savings: Implementing automation robotics can lead to substantial cost savings for […]

Abattoir automation technology aims to reduce need for skilled meat workers in labour shortage

A $300 million upgrade to a southern New South Wales abattoir is using cutting-edge technology to reduce the need for highly skilled workers amid ongoing labour shortages in the meat processing sector.

The Australian Meat Group bought the moth-balled Cootamundra abattoir in 2019 and has demolished most of the plant.

AMG Managing Director Gilbert Cabral said it was being rebuilt with new technology to simplify operations to make it easier to find the 1,000 workers needed."We’re not going to be reducing the amount of people [needed at the plant] but we’re able to produce more product per kilo per person," Mr […]

How can a data-driven network model be used to study occupational mobility and automation?

How can a data-driven network model be used to study occupational mobility and automation?

A data-driven network model can be used to study occupational mobility and automation by analyzing how workers transition into new jobs in response to automation scenarios. The model takes into account the network structure of occupational mobility and its impact on unemployment levels [1] [2] [3] . At a macro level, the model reproduces the Beveridge curve, a key stylized fact in the labor market, providing insights into its counter-clockwise cyclicality [4] [5] . At a micro level, the model provides occupation-specific estimates of changes in short and long-term unemployment corresponding to automation shocks . The network structure plays […]