Tag: productivity

AI and Automation: Challenges and Solutions

AI and Automation: Challenges and Solutions

AI And Automation One important trend of our day is the fact that AI and automation are incorporated into the workforce, altering both the nature of work and the skills, structures, and dynamics that uphold it. We are moving further into the technology revolution. Hence understanding its full implications is becoming increasingly important. Besides the ethics issues they raise, this article also explores the considerable effects of AI and automation on employment positions and the skills required . There will also be ten key areas that must be addressed immediately to optimize human potential and ensure that everyone has […]

What will artificial intelligence mean for your pay?

What will artificial intelligence mean for your pay?

Around a decade ago Carl Benedikt Frey and Michael Osborne, two economists, published a paper that went viral. It argued that 47% of American jobs were at risk of automation. A deluge of research followed, which suggested the poorest and least-educated workers were most vulnerable to the coming revolution. Such fears have intensified as artificial-intelligence (ai) capabilities have leapt ahead. On November 2nd, speaking after Britain’s ai summit, Elon Musk predicted: “There will come a point where no job is needed.” Yet at the same time, economists have become more optimistic . Recent studies have found that fewer workers […]

A.I. job postings as a share of all job postings

A.I. job postings as a share of all job postings

Digital workers The entertainment industry has long churned out movies and television shows about machines equipped with artificial intelligence taking over—and destroying—humanity. But this past July, when actress Fran Drescher told the crowd at a press conference that “we are all going to be in jeopardy of being replaced by machines,” it was not part of a science fiction script.

Drescher, who is also president of the Screen Actors Guild-American Federation of Television and Radio Artists, was announcing the beginning of the union’s long-anticipated strike. SAG-AFTRA was joining the Writers Guild of America—an organization of unions representing writers in film, […]

How are traditional labor movements affected by automation?

How are traditional labor movements affected by automation?

Traditional labor movements are affected by automation in various ways. Labour unions have incentives to protect incumbent workers who are negatively affected by automation, which can neutralize the positive effects of automation on new hires of junior and unskilled production workers. Automation displaces employment and reduces labor’s share of value-added in the industries where it originates, but these own-industry losses are reversed by indirect gains in customer industries and induced increases in aggregate demand. Automation may induce productivity gains, increase market demand, and the scale of production, which can in turn increase labor demand. The joint impact of the […]

What Are Industrial Robots?

What Are Industrial Robots?

Image: Shutterstock Industrial robots are automated machines for the use of manufacturing. Typically, these multipurpose machines consist of at least one reprogrammable robotic arm, or a manipulator, that operates on three axes or more. The widespread implementation of industrial robots in warehouses and on factory assembly lines can be credited to their ability to execute repetitive tasks at rapid speeds with high precision and no breaks. What Are Industrial Robots?

Industrial robots are heavy-duty machines designed to automate the manufacturing process.

Due to the nature of the work they perform, “industrial robots must be strong, fast and accurate,” Nadia Figueroa, […]

Why are so many big companies laying off employees?

Why are so many big companies laying off employees?

Why are so many big companies laying off employees?

In recent months, a concerning trend has emerged in the corporate world: a significant number of big companies are laying off employees. This wave of layoffs has left many people wondering why these companies, which are often seen as stable and prosperous, are making such drastic decisions. Let’s delve into the reasons behind this unsettling phenomenon.

One of the primary factors contributing to these layoffs is the ongoing global economic uncertainty. The COVID-19 pandemic has wreaked havoc on economies worldwide, causing businesses to suffer severe financial losses. With reduced consumer spending, […]

What are the effects of automation technologies on career starters?

What are the effects of automation technologies on career starters?

Automation technologies have heterogeneous effects on career starters. Young workers are more easily displaced by automation compared to older workers, but they also have good prospects of working in complement with automation technology in the future. Automation leads to higher profits, lower consumer prices, and higher sales, and the estimated impact of automation on employment is positive even for unskilled industrial workers. Increased automation can result in underemployment due to the possibility of job replacement by machines and the diversity in job mismatch probabilities of workers. However, university students, who are at the beginning of their careers, do not […]

Political Choices Undermined the Workers’ Movement, Not Deindustrialization

Political Choices Undermined the Workers’ Movement, Not Deindustrialization

Workers picketing in Spring Hill, Tennessee, on October 30, 2023. (Kevin Wurm / Bloomberg via Getty Images) Ever since Robert Brenner published his essay “The Economics of Global Turbulence” in 1998, there has been a wide-ranging debate about his understanding of the period since the 1970s as a “long downturn.” Seth Ackerman and Aaron Benanav have recently been extending this debate in Jacobin .

Some of the claims that Benanav puts forward in his reply to Ackerman, largely based on his book Automation and the Future of Work , are worth engaging with critically in their own right.

I’ve learned a […]

The Power of Robotics in Manufacturing: Automation and Efficiency

The Power of Robotics in Manufacturing: Automation and Efficiency

Introduction

The integration of robotics in manufacturing processes has revolutionized the way products are made. Automated manufacturing, powered by robotics, has emerged as a game-changer, bringing unprecedented efficiency and precision to the production floor. In this article, we’ll explore the impact of robotics in manufacturing, highlighting the benefits, challenges, and the future of automated manufacturing. Understanding Automated Manufacturing

Automated manufacturing, often synonymous with industrial automation, refers to the use of control systems, machinery, and information technologies to handle different processes in manufacturing. At its core, this approach seeks to minimize human intervention in repetitive, mundane, and often hazardous tasks, […]

How Are AI and Robotics Redefining Productivity?

How Are AI and Robotics Redefining Productivity?

How Are AI and Robotics Redefining Productivity? Adopting new technologies like AI and robots can drastically shift an organization’s processes from top to bottom. Wharton professor Lynn Wu joins Eric Bradlow, vice dean of Analytics at Wharton, to discuss how automation and artificial intelligence impact physical labor, productivity, and human resources. This interview is part of a special 10-part series called “AI in Focus.”

Watch the video or read the full transcript below. Transcript

Eric Bradlow : Welcome, everyone, to the Wharton Sirius XM podcast series on artificial intelligence, sponsored by Analytics at Wharton, and AI at Wharton. […]