Tag: productivity

Are We Entering the AI “Cognitive Revolution”?

Are We Entering the AI “Cognitive Revolution”?

Wall Street Journal writer Christopher Mims tried using AI to replace himself. He claims we are entering the “Cognitive Revolution” that will displace millions of workers. Christopher Mims says AI will automate tasks done by hundreds of millions of workers. Please consider his article I Tried Using AI to Replace Myself For the past two weeks, I’ve used cutting-edge artificial-intelligence tools in every aspect of my day-to-day existence, from my job to my personal life. Here’s my verdict: The last time I had an experience this eye-opening and transformative was after I bought my first smartphone. In experimenting with […]

How automation affect employment in manufacturing?

How automation affect employment in manufacturing?

Automation technology in manufacturing has varied effects on employment. Several studies indicate that automation technology increases total employment and employment at all skill levels in manufacturing firms, suggesting that the productivity effect outweighs the displacement effect . Additionally, automation can lead to the skill upgrading of employment composition, with a higher proportion of high-skilled labor and a decrease in low-skilled labor . Furthermore, automation can have a positive impact on employment in the service sector, offsetting the reduction in manufacturing employment . Studies also show that automation in manufacturing leads to higher profits, lower consumer prices, and higher sales, […]

Automation and the Future of Jobs: Are We All Doomed?

Automation and the Future of Jobs: Are We All Doomed?

Automation and the Future of Jobs: Are We All Doomed?

Naveed W.

· Follow 2 min read·5 hours agoLet’s face it, automation is on the rise. From self-checkout kiosks to chatbots, machines are handling tasks once done by humans. This raises a crucial question: are robots taking our jobs, leaving us all unemployed?Today, various industries are embracing automation to streamline processes. From manufacturing to customer service, automation technologies like robotics and AI are becoming commonplace. In the United States, 3,900 job losses in May 2023 were directly attributed to AI, accounting for 5% of all job losses during […]

Industrialisation is still vital to economic development but some countries are struggling to reap its benefits

Industrialisation is still vital to economic development but some countries are struggling to reap its benefits

Alexander Hamilton, one of the founding fathers of the US, wrote a wealth of reports that served as building blocks for the country’s economic system. In 1791, during his time as secretary of the Treasury, Hamilton published one of his most important: the Report on the Subject of Manufactures .

It argued that the US needed to develop its manufacturing sector through the use of industrial and trade policy to grow its economy, bolster its military, increase its productivity, and catch up with the industrial and technological powerhouse of the time, Great Britain.

Hamilton died in 1804. But US policymakers, led […]

Harmonising Horizons: The futuristic symphony of automation in 2024

Harmonising Horizons: The futuristic symphony of automation in 2024

Representative Image Automation refers to the use of technology to perform tasks with minimal human intervention. Here are the different types of automation:

Fixed Automation: In fixed automation, a predefined sequence of operations remains constant and cannot be customised by the user. It is commonly used in the mechanical industry for specific tasks. Think of it as a “set-it-and-forget-it” approach where the system configuration determines the sequence of operations.

Programmable Automation: Programmable automation allows users to modify the sequence of operations based on specific requirements. Users can customise the process by changing the order of steps. It provides flexibility […]

From Passport Processing To Registering To Vote, AI Could Take Over 84% Government Jobs, Says Study

From Passport Processing To Registering To Vote, AI Could Take Over 84% Government Jobs, Says Study

The study on AI was focussed on the UK government’s work. Artificial Intelligence (AI) could take over 84 per cent of repetitive government services, a new study has said. Researchers from The Alan Turing Institute focussed on 201 services in the UK that involve a decision and an exchange of information between government and a citizen and found that these can be automated to save time. Some examples are processing passports and registering to vote, which have the potential to be automated. Every minute AI helped cut per transaction would save hundreds of thousands of hours of manual work […]

Cobot Palletizers Brew Big Benefits for Coffee Company

Cobot Palletizers Brew Big Benefits for Coffee Company

The Robotiq Palletizing Solution with the UR10e cobot handles 1,500 boxes per day in a two-shift operation In 1897, Steve Papanicholas immigrated from Greece to Chicago, where he founded Overland Coffee Co., now Napco Brands, a family-owned coffee company that uses the same robust sourcing, roasting, and blending practices developed by Papanicholas at the turn of the century. Since its founding, the company has expanded from roasting and packaging a single in-house brand to producing four distinct coffee brands: Papanicholas, Day to Day, Versanto, and Basic Joe. It also offers a growing line of private-label coffees.

“At Napco, we have […]

Goldman chief economist | AI will ‘destroy employment in some areas’

Goldman chief economist | AI will 'destroy employment in some areas'

AI will ‘destroy employment in some areas’ Goldman Sachs’ chief economist has offered a stark forecast on the initial impact of AI on the labor market, predicting it will ‘destroy employment in some areas.’

Jan Hatzius, the economist in question, has risen to prominence after previously making several successful predictions about the global economy, including forecasting the 2008 financial crisis.

In an interview with CNN, Hatzius said he expects there to be a short-term hit to jobs, but believes that the long term picture is brighter.“There will be parts of the labor market where tasks can be replaced,” Hatzius said. […]

SURESH BABU: How AI affects carmakers’ workforce is up to us

SURESH BABU: How AI affects carmakers’ workforce is up to us

Legislators should steer the technology to upskill and reskill workers to prepare them for its adoption

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Subscribe now Picture: 123RF Artificial intelligence (AI) has long been a rich source of storytelling: from the HAL 9000 computer — the brainchild of Stanley Kubrick and Arthur C Clarke in the film 2001: A Space Odyssey — to the replicants in the epochal blockbuster Bladerunner and the genocidal Skynet programme in the Terminator franchise.Some […]

Ethical Considerations in Robotics and AI: Navigating the Moral Dilemmas of Automation

Ethical Considerations in Robotics and AI: Navigating the Moral Dilemmas of Automation

In a world where robots and artificial intelligence are becoming increasingly integrated into our daily lives, the ethical considerations surrounding their use have never been more important. From autonomous vehicles to chatbots, the decisions made by developers and programmers can have profound moral implications. Join us as we delve into the complex landscape of robotics and AI, exploring the challenges and dilemmas that arise when navigating the ever-evolving intersection of technology and ethics. Introduction to Robotics and AI

In recent years, robotics and artificial intelligence (AI) have significantly advanced, resulting in the widespread use of autonomous systems in various […]