Tag: productivity

Could artificial intelligence really boost labour productivity?

Could artificial intelligence really boost labour productivity?

Artificial intelligence has long been theorised as a cure for the West’s ailing productivity growth . As the McKinsey Global Institute has shown, workplace productivity growth has been stagnant for about 40 years. But the discourse on the productivity effects of AI has been almost entirely speculative. Until recently, evidence of large-scale exposure to AI was absent from data.

In the last 10 years, scholars such as Daron Acemoglu and David Autor have shown how computerisation has led to an intra-firm re-allocation of skills and corresponding wage premiums via skill-biased technological change. Acemoglu and Pascual Restrepo showed that the equilibrium […]

Navigating the Age of AI: The Danger of Skill Erosion and How to Prevent It

Navigating the Age of AI: The Danger of Skill Erosion and How to Prevent It

Navigating the Age of AI: The Danger of Skill Erosion and How to Prevent It The Rise of AI and the Risk of Skill Erosion

As the world increasingly leans on technology, and particularly AI and automation, the concept of skill erosion emerges. Skill erosion refers to the decline or loss of abilities due to over-reliance on technology. This phenomenon has far-reaching implications for individuals and organizations, as it can lead to a loss of competence and expertise, fostering a sense of automation complacency.

An example of skill erosion was evident in the Air France jet crash, where the pilots […]

The Impact of Automated Jobs On Society-1

The Impact of Automated Jobs On Society-1

The Impact of Automated Jobs On Society

Camryn Niestroy

Baker College COM1010: Composition and Critical Thinking I Dr. Lanan Sumpter The Impact of Automated Jobs On Society Introduction: Automation has become a defining feature of the modern workforce, revolutionizing industries and reshaping the nature of work. While automated jobs offer numerous advantages in terms of efficiency, productivity, and innovation, they also pose challenges such as job displacement, income inequality, and societal impacts. This research essay aims to explore the dual effects of automated jobs on society, highlighting both the positive and negative implications of automation in the workplace. Background: […]

The Impact of Automation on Employment: Just the Usual Structural Change?

The Impact of Automation on Employment: Just the Usual Structural Change?

The impact of automation on employment is not the "end of work" but rather a usual structural change . Studies have shown that while there may be job displacement in certain sectors due to automation, it is compensated by job creation in other sectors, including newly created labor-intensive sectors . The introduction of robotics and AI may affect employment in "applying" sectors, but job creation in "making" sectors and complementary sectors helps to balance the overall employment shifts . Research has also highlighted the importance of technological innovation for economic progress and the need for social programs to alleviate […]

Embracing the Future of Work: Automation and AI Revolutionizing Employment

Table of Contents

> Introduction

Impact of Automation and AI on Employment Automation of Routine Tasks Creation of New Job Roles Replacement of Certain Job Roles Increasing Demand for AI-Related Skills Adapting to the Changing Landscape The Importance of Acquiring New Skills Role of Employers, Governments, and Educational Institutions Conclusion Note: The above table of contents consists of four main headings, each with subheadings. The Future of Work: Embracing Automation and AI The world of work is undergoing a rapid transformation with the advancement of automation and artificial intelligence (AI). These technologies are reshaping employment opportunities and posing […]

The future of jobs amidst AI: Experts examine the impact

Picture Credit: Depositphotos Human versus robot… Worker versus AI… Thanks to the explosion of ChatGPT in November 2022, AI has become one of the most celebrated and debated technological developments, both in and out of the workplace.

In fact, according to data compiled by the UK government , the public is becoming increasingly pessimistic about AI’s impact on society, despite a third of respondents admitting they use chatbots at least once a month in their day-to-day lives.

But are their concerns about AI valid? And will generative AI’s impact on the workplace irrevocably alter our jobs and the need for human […]

Navigating the Challenges of the Current Job Market (Ruled by AI)

Navigating the Challenges of the Current Job Market (Ruled by AI)

In an era where artificial intelligence (AI) is transforming industries at a breakneck pace, the job market is under significant strain to adapt. This wave of change, led by the rapid evolution of AI technology, is reshaping the employment landscape, introducing both immense challenges and unprecedented opportunities. While AI automates routine tasks and alters job requirements, it also paves the way for new jobs requiring advanced technical skills and a deep understanding of AI systems.

The crux of thriving in this evolving job market lies not in competing with machines but in leveraging AI to enhance human capabilities. In this […]

The Impact of Automation on Employment

The Impact of Automation on Employment

The Impact of Automation on Employment

Automation has had a significant impact on employment in recent years, and the effects are only expected to increase in the future. Automation can lead to job losses in certain industries, but it can also create new opportunities in other areas. It’s important to consider the ways that automation is changing the job market, and how we can adapt to these changes.

For the last thirty years at the very least, and possibly longer depending on the movies we’ve seen, we’ve been hearing tales of the impending collapse of the human workforce. It is […]

Investments in workplace machines help explain strong U.S. economy

Investments in workplace machines help explain strong U.S. economy

iStockphoto Worker shortages have led many companies to invest in machines and train the workers they do have to use advanced technology to produce more with less.

The result has been an unexpected productivity boom, which helps explain a great economic mystery: How has the world’s largest economy stayed so healthy, with brisk growth and low unemployment, despite brutally high interest rates that are intended to tame inflation but that typically cause a recession?

To economists, strong productivity growth provides an almost magical elixir. When companies roll out more efficient technology, their workers can become more productive: They increase their output […]

The Rise of Industry 5.0: A Revolution Focused on Humans and Technology Synergy

The Rise of Industry 5.0: A Revolution Focused on Humans and Technology Synergy

Representative Imgae

Wondering what it’s all about, I am referring about Industry 5.0. While companies and whole industries are still in the middle of Industry 4.0, the next revolution is already well on its way—Industry 5.0.

The concept of Industry 5.0 is a relatively new one. According to the European Union, Industry 5.0 “provides a vision of industry that aims beyond efficiency and productivity as the sole goals, and reinforces the role and the contribution of industry to society.” and “It places the wellbeing of the worker at the center of the production process and uses new technologies to provide […]