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2024 Innovation Issue: How automation can be a lifesaver

2024 Innovation Issue: How automation can be a lifesaver

Home » 2024 Innovation Issue: How automation can be a lifesaver

Keywords Advanced Manufacturing / Eli Lilly and Co. / Health Care & Life Sciences / Innovation 2024 / Innovation Issue / Manufacturers / Technology Comments

Print GET THE LATEST IBJ NEWS IN YOUR INBOX Related Stories 2024 Innovation Issue: Wearable devices promise improved safety, productivity May 31, 2024 2024 Innovation Issue: The path to Industry 4.0 May 31, 2024 2024 Innovation Issue: 5 keys to driving Indiana’s manufacturing future May 31, 2024 2024 Innovation Issue: Robotic welding system boosts Smoker Craft’s […]

Workers wanted: How to fill the skilled-trade shortage

Plumbers, carpenters, builders: In the United States, skilled tradespeople are in high demand, earn good salaries, and are vital to economic progress and prosperity. So why are they in such precariously short supply? In this episode of McKinsey Talks Talent , talent leaders Brooke Weddle and Bryan Hancock join global editorial director Lucia Rahilly to discuss what’s causing the shortage in the skilled trades, as well as what’s necessary to attract new workers to these roles and to help them thrive. The following is an edited transcript of their conversation. What’s at stake

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The Fusion of AI and Machine Vision Systems in Modern Automation

The Fusion of AI and Machine Vision Systems in Modern Automation

INSCMagazine: Get Social! Industrial growth is a maze where artificial intelligence and machine vision systems are combined to give birth to a new creation called modern automation. This change does not only appear in our industries but also penetrates the essence of how we produce things now. Manufacturing AI stands at the center of it all – this term means using AI technology within production lines so as to achieve higher levels of accuracy, speediness and effectiveness than had ever been witnessed before. Understanding the Synergy

Machine vision systems act as the factory’s eyes, allowing machines to see, […]

Human Capital for the Age of Generative AI

Human Capital for the Age of Generative AI

Shared prosperity can flow from new technology only if its adoption is accompanied by upgraded skills and proactive worker redeployment. In the age of generative AI, employers should be candid about nascent skills gaps, and governments should focus on enabling all workers to upgrade their skills in a timely and appropriate fashion.

WASHINGTON, DC/PARIS – Generative artificial intelligence has captured the world’s imagination because it appears likely to automate tasks that previously required advanced cognitive skills. With it, there is a real prospect that many highly educated and experienced workers may be replaced by algorithms. What happens when machines come […]

Automation and AI: The Shift in Job Trends

Automation and AI: The Shift in Job Trends

The Emergence of Advanced Technologies Reshapes Career Landscapes

With the rise of Industry 4.0, several professions are at the precipice of transformation, primarily due to automation and artificial intelligence (AI) advancements. Office secretaries, once essential for managing and executing administrative tasks, may see an 8% reduction in job opportunities. This is attributed to AI’s capability to automate scheduling and document management duties traditionally performed by secretaries.

Delivery Services Bracing for a Technological Revolution Delivery services, which have thrived with online shopping and e-commerce platforms, are also likely to witness a significant shift. In the next decade, experts anticipate these […]

AI to boost Ireland’s economy by billions, but many jobs at risk

AI to boost Ireland’s economy by billions, but many jobs at risk

Image: © Freshcare/Stock.adobe.com

A report commissioned by Google suggests Ireland’s economy could grow by up to €45bn in the next decade thanks to generative AI, but certain roles could be heavily displaced by this technology.

A new report highlights the ‘ double-edged sword ’ of AI, as it suggests Ireland’s economy could be boosted significantly over the next decade by this technology – but it could also displace roughly 160,000 jobs.The report – carried out by Implement Consulting Group and commissioned by Google – suggests that generative AI alone could boost Ireland’s gross domestic product (GDP) by between €40bn and €45bn […]

MIT professor hoses down predictions AI will put a rocket under the economy

MIT professor hoses down predictions AI will put a rocket under the economy

Artificial intelligence (AI) may not do much to boost productivity – and could end up widening the income gap between owners of capital and workers.

In a National Bureau of Economic Research paper titled "The Simple Macroeconomics of AI," Daron Acemoglu, professor of economics at Massachusetts Institute of Technology, argues that predictions AI will improve productivity and boost wages in a " blue-collar bonanza " are overly optimistic.

"AI will have implications for the macroeconomy, productivity, wages and inequality, but all of them are very hard to predict," Acemoglu argues. "This has not stopped a series of forecasts over the last […]

AI And Jobs: The Good And Bad News

AI And Jobs: The Good And Bad News

AI And Jobs: The Good And Bad NewsAdobe Stock In today’s rapidly evolving digital landscape, the discussion about artificial intelligence (AI) and its impact on jobs is more relevant than ever. I’ve witnessed first-hand how AI can be a powerful force for both innovation and disruption. While the advent of AI presents exciting opportunities for augmenting human capabilities and enhancing our work, it also poses significant challenges that we, as a society, must be prepared to face. Harnessing Human Potential

At its core, AI is about enhancing efficiency and precision in tasks that traditionally require human input. From […]

Eye-opening Statistics on Job Displacement Due to Automation (2023 Data)

Eye-opening Statistics on Job Displacement Due to Automation (2023 Data)

Automation has been a worry for years, as many traditional/manual patterned workers are seen losing their jobs to machined-based labor daily. It replaces human efforts with technology and results in job displacement. Although many workers have been displaced and more are still on the verge of being replaced, digital transformation is still the bomb. As per the estimates, by 2025, 85 million jobs will be lost to automation worldwide.

The global pandemic gave rise to many job displacements, as most businesses and shopping were transacted online. It’s been a struggle for recovery since the pandemic, and there’s little to no […]

AI threat to your job: Is it coming from AI directly, or from competition with AI skills?

AI threat to your job: Is it coming from AI directly, or from competition with AI skills?

FILE- In this Jan. 9, 2019, file photo, Facebook employees sit at their stations during a tour of its new 130,000-square-foot offices in Cambridge, Mass. (AP Photo/Elise Amendola, File) …

(TND) — Nearly half of professionals in a new survey from Microsoft and LinkedIn said they are worried artificial intelligence will replace their jobs.

And over half of the survey respondents who use AI at work said they worry that using it on important tasks makes them look replaceable, according to the Work Trend Index survey of thousands of knowledge workers – those who typically work at a desk.Two-thirds of leaders […]