Tag: productivity

Revolutionizing Agriculture: The Rising Trend of AgTech Automation

The rapid technological advancements of the 21st century have not left the agricultural sector untouched. A rising trend known as Agricultural Technology or AgTech is set to revolutionize farming practices, bringing automation to the forefront. This movement towards automation in agriculture, from robotic planting and harvesting to precision irrigation, promises to increase efficiency, reduce labor costs, and improve crop yields. It’s an exciting prospect that could transform traditional farming methods and address pressing challenges like labor shortages and climate change. However, it does raise concerns about the potential impact on employment in the agricultural sector. A Glimpse into AgTech

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Global Automated Guided Vehicle Market to Hit Revenue of Nearly USD 9,866.0 million by 2032 | Astute Analytica

Global Automated Guided Vehicle Market to Hit Revenue of Nearly USD 9,866.0 million by 2032 | Astute Analytica

AstuteAnalytica India Pvt. Ltd. The Automated Guided Vehicle (AGV) market is characterized by rapid technological advancements and increasing adoption across various industries, aiming to enhance operational efficiency and safety. With a significant push towards automation driven by the need to optimize supply chains and reduce labor costs, AGVs are becoming an integral part of the logistics and manufacturing sectors.

New Delhi, Feb. 14, 2024 (GLOBE NEWSWIRE) — Global automated guided vehicle market was valued at US$ 3,734.0 million in 2023 and is projected to hit the market valuation of US$ 9,866.0 million by 2032 at a CAGR of 11.4% […]

Title: The Impact of Automation on the Future of Work

Introduction: Automation, driven by advancements in technology, has the potential to revolutionize the future of work. This essay explores the impact of automation on employment, skills requirements, job displacement, and the potential opportunities and challenges that lie ahead. Body: 1. Changing Employment Landscape: Automation is reshaping the employment landscape by transforming traditional job roles and creating new ones. Routine and repetitive tasks are increasingly being automated, leading to shifts in the types of jobs available. While some occupations may become obsolete, automation also opens doors to new industries, such as artificial intelligence, robotics, and data analysis. The future of […]

AI Could Actually Help Rebuild The Middle Class

AI Could Actually Help Rebuild The Middle Class

AI doesn’t have to be a job destroyer. It offers us the opportunity to extend expertise to a larger set of workers. SERIFA for Noema Magazine Essay Technology & the Human

David Autor is a renowned labor economist and professor of economics at the Massachusetts Institute of Technology who studies how technological change and globalization affect workers.

He is also co-director of the MIT Shaping the Future of Work Initiative and the National Bureau of Economic Research Labor Studies Program.In a recent interview with U.K. Prime Minister Rishi Sunak, Elon Musk proclaimed artificial intelligence to be “the most disruptive force […]

The Impact of Artificial Intelligence on Employment

Introduction: In the last few decades, rapid advancements in technology, particularly in the field of artificial intelligence (AI), have brought about significant changes in various aspects of our lives. One of the key concerns that arise with the increasing integration of AI is its impact on employment. The widespread adoption of automation and intelligent machines has sparked debates about the future of work and the potential displacement of human workers. This essay explores the implications of AI on employment, examining both the potential challenges and opportunities it presents. The Challenges of AI on Employment: The rise of AI technology […]

Technological development: valuing labour

Technological development: valuing labour

Technological innovation at work should be thought of in terms of supporting labour, not supplanting it. Technology at work needs to be an arm of labour, not a substitute for it (PaO_STUDIO/shutterstock.com) Ever since the days of Adam Smith, economic science has taught that technological development always benefits the overall productivity of the economy, leading to automatic increases in wages and improved working conditions. This conventional wisdom is however challenged in a new book, Power and Progress , by two of the world’s leading economists, the Massachusetts Institute of Technology professors Daron Acemoglu and Simon Johnson.

Drawing on a millennium-long […]

13 Most Advanced Countries in Robotics

13 Most Advanced Countries in Robotics

In this article, we take a look at the 13 most advanced countries in robotics. You can skip our detailed analysis of the robotics industry and go directly to 5 Most Advanced Countries in Robotics .

According to Oxford Economics , the number of robots used globally has increased drastically over the past two decades, and the count now stands at a whopping 2.25 million. During this time, companies have increasingly realized the importance of automation to remain competitive in the industry, especially in the manufacturing industry. While the labor sector may feel threatened by these new developments in […]

lump of labor fallacy

What did Kurt Vonnegut, the novelist, and François Mitterand, the socialist president of France from 1981 to 1995, have in common with Donald Trump? Both, at some point, believed in what economists call the . This is the view that there is a fixed amount of work to be done and that if someone or something — some group of workers or some kind of machine — is doing some of that work, that means fewer jobs for everyone else.

And Trump clearly shares that belief. As I noted in my most recent column , it underlies his hostility to […]

The industries and companies AI will impact the most, according to a new report

The industries and companies AI will impact the most, according to a new report

Financial services companies will be disproportionally affected by AI. Automation isn’t new—it’s been happening since the Industrial Revolution. But the latest version, generative AI , will probably impact highly skilled , professional work the most.

Workforce reductions in the next decade could be driven less by machines replacing humans than by economic growth lagging productivity increases, according to a recent study from the Society for Human Resource Management (SHRM) and Burning Glass, a research analytics firm.

Thanks to increasing AI adoption, the business landscape will undergo a series of macroeconomic shifts, the report predicts. Early adopters will enjoy a leap in […]

AI vs. Technological Unemployment

The impact of AI on employment is a topic of debate and speculation among experts. While AI and automation have the potential to automate certain tasks and job roles, the overall effect on employment is complex and multifaceted. Here are a few key points to consider: Job Displacement: AI and automation can replace human workers in tasks that can be automated. This displacement may affect specific industries or job roles that involve routine, repetitive tasks. However, it’s important to note that AI can also create new jobs, transform existing roles, and lead to job augmentation by automating mundane tasks […]