Tag: productivity

Democrats cite AI gains and automation in Senate bill calling for 32-hour workweek

Sen. Bernie Sanders and Senate Democrats called for Congress to pass a bill mandating a 32-hour workweek.

The Vermont independent Sanders said that advances in artificial intelligence, automation and soaring corporate profits justify shortening the workweek.

The bill would lower the maximum hours required for overtime compensation and protect workers from salary cuts. Experts differ on whether a shorter workweek increases overall productivity. Sen. Bernie Sanders and Senate Democrats cited advances in artificial intelligence and automation Thursday in their argument for a bill that would mandate a 32-hour federal workweek."Despite massive growth in technology and worker productivity, millions of […]

Sanders proposes 4-day work week in new legislation — with no pay cuts

Sanders proposes 4-day work week in new legislation — with no pay cuts

Sen. Bernie Sanders (I-VT) arrives to the U.S. Capitol Building on June 01, 2023 in Washington, DC. Democratic Vermont Sen. Bernie Sanders introduced new legislation Thursday that would establish a four-day work week for employees across the country without any loss in pay.

The 32-Hour Workweek Act, which is backed by California Sen. Laphonza Butler and California Rep. Mark Takano, would reduce the standard work week from 40 hours to 32 hours.

In 1938, President Franklin D. Roosevelt introduced the Fair Labor Standards Act, which regulated standard working hours and conditions across the United States for the first time. In 1940, […]

Automation and Employment Over the Technology Life Cycle: Evidence from European Regions

Maastricht University Fabien Petit

University College London Tommaso Ciarli

Maastricht University Maria Savona University of SussexDate Written: 2024 Abstract This paper examines the labor market implications of investment in automation over the life cycle of ICT and robot technologies from 1995 to 2017 in 163 European regions. We first identify major technological breakthroughs during this period for these automation technologies and identify the phases of acceleration and deceleration in investment. We then examine how exposure to these automation technologies affects employment and wages across these different phases of their life cycle. We find that the negligible […]

Automation and Employment over the Technology Life Cycle: Evidence from European Regions

Author

Listed: Fabien Petit

Tommaso Ciarli Maria Savona Registered: Abstract This paper examines the labor market implications of investment in automation over the life cycle of ICT and robot technologies from 1995 to 2017 in 163 European regions. We first identify major technological breakthroughs during this period for these automation technologies and identify the phases of acceleration and deceleration in investment. We then examine how exposure to these automation technologies affects employment and wages across these different phases of their life cycle. We find that the negligible long term impact of automation on employment conceals significant short term positive […]

Worried An AI Is Going To Take Your Job? Here’s How To Stay Relevant In The Generative AI Era

Worried An AI Is Going To Take Your Job? Here’s How To Stay Relevant In The Generative AI Era

Worried An AI Is Going To Take Your Job? Here’s How To Stay Relevant In The Generative AI EraAdobe Stock Analysis by the International Monetary Fund found that almost 40 percent of all global employment may be affected by AI, and in advanced economies, the figure could be as high as 60 percent. But don’t be alarmed. That doesn’t mean 40 to 60 percent of jobs will disappear altogether. Instead, it means that AI automation is likely to take away, streamline or enhance some of the tasks associated with those jobs. For the most part, then, we’re talking about […]

6 out of 10 jobs could be at risk of automation in Andean countries

A few days ago, Fedesarrollo revealed in the latest report “COVID-19 and Risk of automation in the labor market of Andean countries”, the effects that automation and technological change could have on the future of the labor market in countries like Bolivia , Ecuador, Peru, and above all, Colombia.

Although this is not a new term, automation in the workplace refers to the use of technology and systems to carry out work tasks or processes automatically, without direct human intervention. This concept encompasses a wide range of applications and technologies that seek to improve efficiency, precision and productivity in various […]

How artificial intelligence and robotics impacts labour force participatin and employemnt?

How artificial intelligence and robotics impacts labour force participatin and employemnt?

Artificial intelligence (AI) and robotics have a significant impact on labor force participation and employment. While AI has the potential to automate tasks and improve efficiency, it can also lead to job losses. However, it is important to note that AI can also create new employment opportunities in technology and AI-related sectors. Studies have shown that worker adaptation to new technologies is necessary to maintain employability and professional relevance . Companies understand the importance of increasing business efficiency and employee productivity, and automation is being implemented in various sectors to minimize costs and improve reliability . Rapid advances in […]

Automation Anywhere AI Solution Drives Savings at Petrobras

Automation Anywhere AI Solution Drives Savings at Petrobras

South American energy giant Petrobras utilised Automation Anywhere to drive $120m in savings We explore how Automation Anywhere’s generative AI-powered automation solution has saved Petrobras US$120m in three weeks

Organisations globally are today harnessing the power of generative AI (Gen AI) and automation to streamline business processes, boost productivity and efficiency and reduce costs.

Now, intelligent automation solutions leader Automation Anywhere has announced that it has helped energy giant Petrobras realise US$120m in savings within three weeks, highlighting the emerging technology’s potential across industries.The largest energy company in South America and Brazil, Petrobras has more than 45,000 employees and 70 years […]

The (Post)Pandemic Employment Model

Abstract

The year 2020 was a historic turning point, shaped by the COVID-19 pandemic and the digital revolution. This chapter explores how these forces have reshaped the employment landscape, with a focus on Romania.

Before the pandemic, work was often rigid, with an 8-h workday in physical offices. However, the pandemic brought swift changes, introducing flexibility in where and when work takes place. Teleworking became the norm, challenging the traditional 5-day workweek, with the 4-day workweek gaining traction.Global companies like Unilever and Microsoft had already experimented with the 4-day workweek, proving its potential to boost productivity and employee satisfaction. Its […]

Common fallacies impede sound policy

Those who advocate rational public policy, based on a thorough understanding of the principles of human action and the benefits of voluntary exchange, are bound to be disappointed much of the time.

That’s not an argument against fighting for freedom . But it is an argument for realism and for keeping expectations low — so you can be pleasantly surprised when policymakers resist political temptations and make good decisions, whether they be here in North Carolina or in Washington, DC. (Just kidding about the latter possibility.)

Why do policymakers so often get things wrong? Bryan Caplan, an economist at George Mason […]