Tag: productivity

Navigating the Future of Work in Blue and Gray Collar Industries

By Nilesh Dungarwal

In the ever-evolving landscape of global industries, the traditional divide between blue and gray collar jobs is increasingly becoming blurred. As technological advancements continue to reshape our world, the future of work in these sectors presents both challenges and opportunities. It is imperative for businesses, policymakers, and individuals alike to understand and adapt to these changes to thrive in the years to come.

Embracing Technological Advancements: One of the most significant transformations in blue and gray collar industries is the integration of advanced technologies such as artificial intelligence (AI), robotics, and automation. These innovations are not […]

Guest opinion: Technological progress and increasing income inequality

Guest opinion: Technological progress and increasing income inequality

Photo supplied

Vijay Mathur

Technological change in the U.S. is essential for capitalism and the market economy to thrive in the globally competitive economy. Many economists and non-economists, including politicians and businesses executives, believe that technical change and automation improve production efficiency, save labor cost, and increase productivity and profits. There is also an understanding that workers will participate in productivity and profit increases in the form of higher employment and wages. Therefore, the share of productivity increase for workers will grow in addition to the increase in shares of profits and compensation for business executives, thus decreasing income inequality. However, […]

The Great Automation Shift: Friend or Foe to the Future of Work?

The Great Automation Shift: Friend or Foe to the Future of Work?

View Larger Image

The specter of automation has haunted the working class for decades. From the textile mills of the Industrial Revolution to the self-driving cars of today, technological advancements have constantly reshaped the landscape of employment. Yet, the current wave of automation, fueled by artificial intelligence and robotics, feels different. Its potential impact on jobs is vast and multifaceted, prompting a crucial question: is automation a harbinger of mass unemployment or a catalyst for a transformed yet prosperous future of work?

On the surface, the threat of automation appears undeniable. Repetitive tasks, once the domain of human labor, […]

From Warehouses to Complex Environments: The Rise of GenAI-Powered Robotics

From Warehouses to Complex Environments: The Rise of GenAI-Powered Robotics

Discover the transformative impact of GenAI-powered robotics across industries from warehousing to healthcare. Learn how advanced AI-driven robots enhance efficiency, safety, and precision while addressing integration challenges The development of robotics has advanced significantly over the past few decades. It evolved from basic mechanical arms performing repetitive tasks to sophisticated systems powered by Generative AI (GenAI) , which can handle complex functions. This transformation spans industries from warehousing to healthcare, agriculture, disaster response, and urban infrastructure.

Robots have fascinated humanity since early science fiction. Today, they are an integral part of many industries. The evolution from simple automation to advanced […]

The Race between Man and Machine: Implications of Technology for Growth, Factor Shares, and Employment

The Race between Man and Machine: Implications of Technology for Growth, Factor Shares, and Employment

(pp. 1488–1542) Article Information

Abstract

We examine the concerns that new technologies will render labor redundant in a framework in which tasks previously performed by labor can be automated and new versions of existing tasks, in which labor has a comparative advantage, can be created. In a static version where capital is fixed and technology is exogenous, automation reduces employment and the labor share, and may even reduce wages, while the creation of new tasks has the opposite effects. Our full model endogenizes capital accumulation and the direction of research toward automation and the creation of new tasks. […]

AI: The hype Is strong with this one

AI: The hype Is strong with this one

Recently, while waiting for a flight, I was sitting next to someone who was calling several companies he was doing business with – his bank, his health insurance provider, and some others.

In every case the call was answered by a chatbot.

But in every case he also did whatever he had to do to get past it and talk to an actual human being. So much for the promise of AI, I thought! What can AI do? As anyone who has ever phoned up companies, to hear the expression “ In a few words tell me what you’re looking […]

Why Technology Creates More Jobs

Why Technology Creates More Jobs

Why Technology Creates More Jobs

The Paradox of Automation: How Innovation Fuels Employment Growth

Mohammed Arshad · Follow 3 min read·6 hours ago In the modern narrative of technological advancement, there’s a prevalent fear that automation and digitalization will lead to a mass displacement of jobs. However, the reality is often the opposite: technology tends to create more opportunities than it eliminates. This article delves into the multifaceted ways technology spurs job creation and explores how businesses and individuals can harness these opportunities. 1. Direct Job Creation in Tech Sectors As technology evolves, new industries and sectors emerge, […]

Federal Reserve Investigating AI’s Potential Impact on Jobs, Economy

Federal Reserve Investigating AI’s Potential Impact on Jobs, Economy

The Federal Reserve is investigating possible effects generative artificial intelligence (AI) may have on productivity, inflation and the labor market, Fed Chair Jerome Powell said Tuesday (July 2).

Speaking during a panel discussion at the European Central Bank ’s Forum on Central Banking in Portugal, Powell said that the massive investments being made in AI suggest “a sense of something big coming here,” Seeking Alpha reported Tuesday.

It’s too early to tell whether the adoption of this technology will eliminate jobs, augment existing jobs or create new ones, Powell said, according to the report.“There’s not a lot a central bank can […]

The Evolution Of Process Automation In The AI Era

The Evolution Of Process Automation In The AI Era

Mihir Shukla is CEO and co-founder of Automation Anywhere , a leading global provider of enterprise process automation. getty With artificial intelligence (AI) advancing rapidly, there needs to be more clarity about what generative AI means for process automation. After all, process automation has been around for decades, and generative AI is now being framed as the hot, new approach to getting work done with the support of technology. However, one will not replace the other.

Instead, we should consider generative AI another dramatic shift or stage in the journey toward a more autonomous enterprise. Each stage builds on the […]

AI’s Negative Economic Impact on White-Collar Middle-Class Workers

AI’s Negative Economic Impact on White-Collar Middle-Class Workers

AI’s Negative Economic Impact on White-Collar Middle-Class Workers 2 Artificial Intelligence (AI) is rapidly transforming the work landscape, with profound implications for white-collar middle-class workers. As AI systems become increasingly sophisticated, they’re capable of performing tasks once thought to be the exclusive domain of human intelligence.

This technological revolution promises increased efficiency and productivity. However, it also poses significant challenges to the job security and economic stability of the middle class—a crucial segment of the workforce that has long been the backbone of modern economies. Job Displacement: A Growing Concern

Many white-collar professionals face the threat of job displacement. Software […]