Tag: productivity

800 million workers will be replaced by Robots by 2030, study suggests

800 million workers will be replaced by Robots by 2030, study suggests

800 million workers will be replaced by machines by 2030, study suggests One-third of US workers could be jobless by 2030 due to automation

A new study by the consultancy firm, McKinsey Global Institute (MGI), reveals that up to one-third of the United States workers and 800 million workers globally could lose their jobs as a result of automation by 2030.

The new report, entitled “Jobs lost, jobs gained: Workforce transitions in a time of automation,” builds on previous MGI research published in January of 2017. The consulting firm now estimates that between 400 million and 800 million individuals […]

Japan refuses to die, soon to become a 21st century star

Japan refuses to die, soon to become a 21st century star

Summary: Japan continues to prosper, defying the doomsters’ forecasts. Is this a delay of their end times, or the taxing down the runway before lift-off? Japan is in some ways further into the future than the rest of the world. We should watch and learn from them. A setting or rising sun? Since Japan’s long crash began in 1989, people have predicted doom. From their massive gross government debt: 237% of GDP in 2015. From their aging shrinking population and refusal to flood the island with immigrants. From their interventionist government and central bank. From the certain-to-come hyperinflation caused […]

Automation Could Eliminate 73 Million U.S. Jobs By 2030

Automation Could Eliminate 73 Million U.S. Jobs By 2030

The rapid evolution of AI and robots could eliminate 73 million American jobs by 2030, according to a new report from the McKinsey Global Institute. The research notes that those losses could be offset by an increase in productivity, economic growth and other factors. However, maintaining full employment is likely to be highly challenging as the economy and labor market would require massive overhauls.

Midpoint automation could lead to 39 million U.S. job losses by 2030 while rapid automation could cost 73 million. Despite the potential losses, however, about 20 million displaced people could be shifted into similar jobs where […]

Robotic Automation to Supplant 800 Million Jobs Worldwide by 2030

Robotic Automation to Supplant 800 Million Jobs Worldwide by 2030

As many as 800 million workers worldwide may lose their jobs to robots and automation by 2030, equivalent to more than a fifth of today’s global labor force according to a new report by the research arm of McKinsey & Co. By 24/7 Staff

Tweet A new study by the McKinsey Global Institute estimates that between 400 million and 800 million of today’s jobs will be automated by 2030.

The research adds a fresh perspective to what is becoming an increasingly concerning picture of the future employment landscape.“We’re all going to have to change and learn how to do […]

Robots coming, but jobs not going; tech changes led to losses in the past too

Robots coming, but jobs not going; tech changes led to losses in the past too

Technology changes led to job losses in the past too, as McKinsey points out, important to retool labour force. (Image: Reuters) Robots threaten over 100 million jobs in India, 800 million worldwide, screams the headline of one financial daily while describing the findings of the latest report on automation and robots by the McKinsey Global Institute (MGI). Not surprising, you’d think, especially since many others, including MGI itself, have warned about the alarming potential loss of jobs to robots and other forms of artificial intelligence (AI)—typically 30-40% of jobs in many sectors—over the past few years. Yet, as Thursday’s […]

Automation may require up to 375 million to reskill by 2030, McKinsey report says

Between 75 million and 375 million workers globally will have to switch occupational categories and learn new skills by 2030 because of automation such as AI and robotics, according to a new report from McKinsey Global Institute, a think tank that is part of management consulting firm McKinsey & Co.

Titled “Jobs Lost, Jobs Gained: Workforce Transitions in a Time of Automation,” the report says jobs removed by automation could affect one-third of the workforces in the US and Germany alone

Jobs affected will vary by occupation and sector, according to the report. Physical jobs in predictable environments are the most […]

Study: People doing these jobs will likely be replaced by robots by 2030

Study: People doing these jobs will likely be replaced by robots by 2030

A new study on jobs says that nearly 400 million people worldwide will need to learn new skills and occupations to stay employable by 2030. The findings, released Wednesday by the McKinsey Global Institute, indicate that the middle class — if it is to grow or even remain steady — will have to make significant adjustments in skill-learning, education and, most of all, mindset.

If we look around us, the economy that will make such a sea change possible is already evolving as technology speeds ahead: Today we have self-driving cars, ride-sharing services, couriers that come inside our homes, and […]

Robots to take jobs of 800m people by 2030, warns McKinsey report

Robots to take jobs of 800m people by 2030, warns McKinsey report

A humanoid robot named Nina, is displayed at the GIPSA-lab (Grenoble Images Speech Signal and Control), a joint research unit of the CNRS (French National Center for Scientific Research) and the University of Grenoble, in Grenoble (Photo: Getty) Around 800m people will lose their jobs to automation by 2030, as businesses seek to harness a cheaper, more efficient artificially intelligent workforce, a report has cautioned.

Between 75m and 375m workers (up to 14 per cent of the global workforce) will be required to switch roles as automation takes over, the McKinsey Global Institute (MGI) has claimed.

Additionally, between 400m and 800m […]

Robots could displace 375 million workers by 2030: McKinsey

Robots could displace 375 million workers by 2030: McKinsey

Cisco executive chairman John Chambers discusses how societal digitization could change the future of jobs in the future.

Hundreds of millions of workers around the world will have to remain flexible with their careers, with robots set to become a crucial part of the global workforce.

While automation and artificial intelligence (AI) will be good for productivity and economic growth, millions of employees may need to switch occupations or upgrade their skills.“By 2030, up to 375 million workers around the world may need to switch occupational categories and learn new skills,” according to McKinsey Global Institute’s latest report, called “Jobs lost, […]

Robots May Put 800 Million People Out Of A Job By 2030

Robots May Put 800 Million People Out Of A Job By 2030

Back in the 1900s, most of America had its workforce on farms and just enough food was produced to feed a far less populous nation. Now, less than 2 percent of Americans work on farms, because technology has revolutionized the sector. Automation has taken over .

The same applies to plenty of sectors these days, particularly when manual labor is involved. Now, a new study has laid this reality bare. According to a study by management consultancy firm McKinsey, up to one-third of the American workforce (73 million people) may lose their jobs to automation by 2030.

In total, up to […]