Tag: productivity

Generative AI’s biggest impact will be in banking and tech: Report

Generative AI’s biggest impact will be in banking and tech: Report

Companies in finance have some of the highest percentages of their payrolls likely to be disrupted by generative AI. A new generation of artificial intelligence (AI) is poised to turn old assumptions about technology on their head.

For years, people working in warehouses or fast food restaurants worried that automation could eliminate their jobs. But new research suggests that generative AI – the kind used in chatbots such as OpenAI’s ChatGPT – will have its biggest impact on white-collar workers with high-paying jobs in industries such as banking and tech.

A report published on Feb 1 by the Burning Glass Institute, […]

Figure AI’s Journey to Robotics Dominance with BMW, Microsoft, and OpenAI Support

Figure AI’s Journey to Robotics Dominance with BMW, Microsoft, and OpenAI Support

Image: Figure AI In the dynamic landscape of robotics and artificial intelligence, Figure AI has emerged as a trailblazer with its groundbreaking humanoid robots. As a pioneer in the industry, the company is drawing significant attention for its innovative approach to robotics, particularly in the realm of autonomous humanoid workers. Figure AI’s recent developments, including a strategic partnership with BMW and substantial funding talks, signal a transformative shift not only in the robotics sector but also across various industries. Partnership with BMW and Industry Impact

Figure AI’s partnership with BMW represents a groundbreaking shift in industrial automation, introducing humanoid […]

AI will not be a mass destroyer of jobs, says U.K. central bank chief: ‘I’m an economic historian. Economies adapt’

AI will not be a mass destroyer of jobs, says U.K. central bank chief: ‘I’m an economic historian. Economies adapt’

Hollie Adams—Bloomberg via Getty Images It’s hard to escape the doomsday predictions about AI as it continues to stretch unabated into every industry. One central banking chief, though, is using his penchant for economic history to cut a comparatively optimistic figure on the state of the jobs market in a post-AI world.

In an interview with the BBC , Bank of England (BOE) governor Andrew Bailey said he didn’t think AI would be a destroyer of jobs in the ways predicted by the likes of Elon Musk .

“I’m an economic historian, before I became a central banker,” Bailey said.“Economies adapt, […]

It’s too expensive to replace human workers with AI—for now, says MIT study

It's too expensive to replace human workers with AI—for now, says MIT study

It’s too expensive to replace human workers with AI—for now, says MIT study An artificially intelligent robot may not steal your job as soon as you think.

That’s because it may be too expensive for companies to replace human workers with AI, according to a January study from MIT CSAIL, MIT Sloan, The Productivity Institute and IBM’s Institute for Business Value.

"Our study on automation with AI computer vision systems does deliver some encouraging news about job replacement, showing that many tasks wouldn’t be economically attractive to automate for years or even decades," Neil Thompson, principal investigator at MIT CSAIL and […]

AI May Very Well Change Our Species

AI May Very Well Change Our Species

An illustration of prehistoric painters at work in the Lascaux Caves in modern-day France. (Dea Picture Library / De Agostini via Getty Images) Since the very dawn of humanity, the sudden appearance of new technologies has had profound — yet not immediately obvious — social consequences. As the way we live changes, so do we. Sometimes, profoundly so.

For example, the brains of Homo sapiens everywhere on Earth are smaller now than they were 300,000 years ago. One of several competing explanations of this phenomenon is the theory that the emergence of language and the distribution of knowledge across society […]

Transformative Forces Of Technology In Workforce Development

Transformative Forces Of Technology In Workforce Development

Summary: Explore how technology like AI, automation, and robotics play a pivotal role in reshaping workforce development. Transforming Workforce Development With Cutting-Edge Technology

In the rapidly evolving landscape of the 21st century, technology has become an integral force shaping various aspects of our lives. One domain undergoing transformations is the workforce. The arrival of Artificial Intelligence (AI), automation, and robotics is ushering in a new era of efficiency, productivity, and innovation. As these technologies continue to advance, it is crucial to explore the role they play in workforce development. 1. The Rise Of AI In Workforce Development

Artificial Intelligence, […]

Should workers be concerned about AI?

Should workers be concerned about AI?

EXPLAINER: Executives recommend an open mindset to adapt to new technologies Roughly 40% of global employment is exposed to artificial intelligence, according to a new analysis by the IMF. Should local organisations and employees be concerned jobs are going to be replaced by artificial intelligence (AI) as it is adopted around the globe?

Executives in the technology, manufacturing and job recruitment fields indicate the impact is unavoidable and people as well as organisations should prepare to deal with the consequences.

According to a blog post by International Monetary Fund (IMF) chief Kristalina Georgieva on Jan 14, AI will affect almost 40% […]

Productivity rebound buoys profits, blunts inflation, validates streamlining

Productivity rebound buoys profits, blunts inflation, validates streamlining

Getty Images via Getty Images Dive Brief:

U.S. labor productivity rebounded last year from a record downturn in 2022, reinforcing profit margins, slowing inflation and validating CFO efforts to boost efficiency.

Nonfarm employee output per hour increased 3.2% on an annualized basis during the fourth quarter after surging 4.9% during Q3, the Bureau of Labor Statistics said Thursday. Still, the economy-wide efficiency gains may not last, Federal Reserve Chair Jerome Powell said Wednesday during a press conference. “My guess is we may shake out and be back where we were” before the pandemic, Powell said, noting that productivity data […]

UPS cuts 12,000 jobs: The ruling class accelerates its policy of mass unemployment

United Parcel Service announced Wednesday that it is firing 12,000 salaried workers—14 percent of its worldwide managerial staff—as part of a $1 billion cost-cutting plan. The mass layoffs by the logistics giant, which will go into effect in the first half of this year, are part of an accelerating global wave of job-cutting in auto, technology and other industries.

In a conference call with investors, UPS CEO Carol B. Tomé boasted that her executive team had slashed the company’s worldwide workforce from 540,000, when “COVID demand peaked,” to 495,000 today. Even if volume increased, she said, the managers would not […]

How is technology changing the world today?

How is technology changing the world today?

How is technology changing the world today?

Apleetech

· Follow 8 min read·Just now– Introduction How is technology changing the world today? Technology has transformed almost every aspect of our lives in the 21st century, from how we work, play, and communicate to how we learn, shop, and receive healthcare. As new technologies continue to emerge, they bring both opportunities and challenges that impact individuals, businesses, and society as a whole. This article explores some of the key ways that technology is changing the modern world across different facets of life. While technological advances provide many benefits, there […]