Tag: productivity

Hicks: Face facts, factory jobs aren’t coming back

Hicks: Face facts, factory jobs aren't coming back

Ball State University MUNCIE, Ind. – I give a number of public talks each year on changes to the state and local economy. One trick I use to help folks understand these changes is to ask a couple questions. This sets up a great discussion about issues ranging from educational attainment to quality of life to economic development and trade policy.

The first question is simple: “In what year did Indiana’s manufacturing economy produce the most ‘stuff’ as measured in inflation-adjusted dollars?” Economists call this Gross Domestic Product, and it is measured as the value-added production in our state. That […]

ETHICAL IMPLICATIONS OF AUTOMATION ON LABOR MARKETS

ETHICAL IMPLICATIONS OF AUTOMATION ON LABOR MARKETS

ETHICAL IMPLICATIONS OF AUTOMATION ON LABOR MARKETS

Ethical Implications of Automation on Labor Markets

Introduction The rapid advancement of automation and artificial intelligence (AI) technologies has sparked widespread discussions about their potential impacts on labor markets across various industries. While automation promises increased efficiency, reduced costs, and enhanced productivity, it also raises significant ethical concerns that need careful consideration. This article delves into the ethical implications of automation on labor markets and explores the challenges and potential solutions. Impact on Jobs and Employment One of the most significant ethical dilemmas posed by automation is the potential displacement […]

The Rise of Automation: How Robotics is Shaping Modern Workplaces

The Rise of Automation: How Robotics is Shaping Modern Workplaces

In the dynamic landscape of the 21st century, technology is propelling humanity toward new frontiers. Central to this transformation is the integration of automation and robotics into diverse industries, heralding the rise of an era where machines work hand in hand with humans. The impact of this phenomenon, known as the Fourth Industrial Revolution, is reverberating across modern workplaces globally. From factory floors to office spaces, robotics is reshaping the very essence of work. This article embarks on a comprehensive exploration of the profound implications of robotics on modern workplaces, unraveling the far-reaching benefits, imminent challenges, and the exciting […]

A New Era of Automation: The Impact of Robotic Welding on Asia-Pacific’s Technology Sector

A New Era of Automation: The Impact of Robotic Welding on Asia-Pacific’s Technology Sector

Exploring the New Era of Automation: The Impact of Robotic Welding on Asia-Pacific’s Technology Sector

The dawn of a new era of automation is upon us, and it is being ushered in by the rapid advancement of robotic welding. This technological revolution is having a profound impact on the Asia-Pacific’s technology sector, reshaping industries and transforming the way businesses operate.

Robotic welding, a process that uses programmable robots to automate the welding process, is not a new concept. However, recent advancements in technology have made it more efficient, accurate, and cost-effective than ever before. This has led to a surge […]

6 Ways Robots are Changing Manufacturing

6 Ways Robots are Changing Manufacturing

Rasmus Smet Jensen, VP of marketing and strategy at Mobile Industrial Robots (MiR). As robots began to be deployed in automotive plants 40 years ago, experts predicted the technology would quickly transform manufacturing. That fast, comprehensive transformation, however, didn’t come about.

“The expected revolution didn’t happen,” says Jeff Burnstein, president of the Association for Advancing Automation.

But robot technology continued to improve and expand to other sectors of manufacturing and society as a whole. Call it a marathon, not a sprint, with lots of checkpoints and milestones along the way. Early Days in Automotive In the early 1980s, robotic welding applications […]

AI and the future of work – a reality we are immersed in

AI and the future of work – a reality we are immersed in

During the pandemic (2019–22), a 50% increase in the number of occupational shifts took place, in particular people leaving food services, in-person sales and office support for other occupations.

Covid-19 had a major influence on the nature of work, such as the introducing of remote or hybrid models of work. It also contributed to the “Great Resignation” of 2021, when record numbers of employees voluntarily quit their jobs.

What is interesting is that accommodation, food services, in-person sales, office support, leisure and hospitality had the highest resignation rates, while retail trade and non-durable manufacturing experienced the greatest growth in employees who […]

Understanding the Impact of AI on Growth and Employment

Understanding the Impact of AI on Growth and Employment

The rapid advancement of artificial intelligence (AI) in recent years has raised questions about its effects on economic growth and employment. AI has brought significant changes to various industries, reshaping the landscape of productivity and job dynamics. This has led to a reevaluation of its impact on job creation and displacement. It is important to understand the implications of AI on workforce evolution, skills requirements, and overall economic expansion.

AI has emerged as a transformative technology with broad implications for economic growth and employment. Its influence can be seen in sectors such as manufacturing, healthcare, finance, and retail. AI technologies […]

The Rise of Automation: How Bots and AI Are Changing Different Industries

The Rise of Automation: How Bots and AI Are Changing Different Industries

Bots and artificial intelligence (AI) are revolutionizing the way we work and are slowly replacing jobs across various sectors. Banking is one industry that has felt the effects of this automation wave. Robotic Process Automation (RPA) bots have taken on numerous tasks in the banking sector, including transaction processing, fraud detection, and compliance reporting. These bots work tirelessly, reducing processing times and minimizing errors. However, this transformation also means that some roles in the banking sector might become redundant.

The impact of automation is not limited to banking. Fast-food chains like Chipotle and McDonald’s are also embracing AI. Chipotle has […]

The Impact of AI Dialogue Systems on Employment and the Job Market

The Impact of AI Dialogue Systems on Employment and the Job Market

The Impact of AI Dialogue Systems on Employment and the Job Market

The impact of artificial intelligence (AI) on the job market has been a topic of intense debate in recent years. While some experts argue that AI will create new job opportunities, others warn that it will lead to massive unemployment. One area where AI is making significant strides is in the development of dialogue systems, also known as conversational agents or chatbots. These systems have the potential to revolutionize customer service, sales, and other industries that rely heavily on human interaction. But what does this mean for […]

Future-proofing your career in the age of AI

Future-proofing your career in the age of AI

Image credit: Dice As the world witnesses rapid advancements in artificial intelligence (AI), concerns about job security have surfaced once again. The success of AI models like ChatGPT has left many people pondering the fate of their careers. A recent survey showed that more than half of young adults aged 18-24 worry about AI’s impact on their professional lives, fearing job displacement due to automation.

Researchers predict that a significant portion of tasks performed by humans in the US and Europe could be automated in the near future. This has led to a growing debate about the future of work, […]