Tag: productivity

Artificial Intelligence May Disproportionately Affect Women in the Workforce, Says Study

Artificial Intelligence May Disproportionately Affect Women in the Workforce, Says Study

A recent study by McKinsey & Co. reveals that women are more likely to face job displacement due to automation by artificial intelligence (AI) compared to men. The research, conducted by McKinsey Global Institute, predicts that women are 1.5 times more likely to need to change jobs by 2030. This can be attributed to the high representation of women in lower-wage industries, such as office support and customer service, which are expected to shrink due to advancements in AI technology.

The study also indicates that black and Hispanic workers will be disproportionately affected as they are highly concentrated in shrinking […]

How Robotics are Used in the Oil and Gas Industry to Boost Productivity

How Robotics are Used in the Oil and Gas Industry to Boost Productivity

The use of robotics in tasks such as inspection, exploration, production, and safety measures has resulted in increased productivity and efficiency

How Robotics are Used in the Oil and Gas Industry to Boost Productivity By increasing maintenance and repair, production efficiency, and safety monitoring, robotics and automation have significantly aided the development of the oil and gas industry, believes Arif Patel of Preston. The enhanced automation technology of robotics has widely impacted the output of oil and gas industries making it more advanced and efficient.

Since the beginning of the digital age, robotics has played a significant role in the […]

The Impact of AI on the Job Market and the Future of Work

The Impact of AI on the Job Market and the Future of Work

The onset of AI’s automation and probabilistic recommendations has sparked discussions about the future of the job market and concerns about displacement. However, evidence suggests that AI will lead to a robust job market, increased productivity, and competitive compensation for employees.

A report by McKinsey predicts that Generative AI could deliver annual economic benefits of $2.6 trillion to $4.4 trillion globally across industries. This sustainable progress in AI could result in economic growth, increased employment, and higher wages.

AI allows for critical thinking and collaboration within the workforce. By automating certain tasks, AI frees up employees’ time for complex problem-solving, creative […]

Why women could be hurt more by AI in the workforce than men: study

Why women could be hurt more by AI in the workforce than men: study

When artificial intelligence begins automating jobs once done by humans, women will have to worry more than men, according to a new study by McKinsey & Co.

The report, which was compiled by the consulting firm’s research arm, McKinsey Global Institute, analyzed US labor-market trends through 2030, and found that women are 1.5 times more likely to need to change jobs in the next seven years.

McKinsey attributed the figure to the high amount of women in industries with lower-wage jobs, which will be most affected by AI technology already present in models that are available for public use like […]

Women will be more likely to be forced to switch occupations than men because of A.I. wave

Women will be more likely to be forced to switch occupations than men because of A.I. wave

The McKinsey Global Institute said that at least 12 million workers in the US will need to change occupations by the end of 2030 Getty

Women have more to worry about than men from a coming wave of automation and artificial intelligence that could replace almost a third of hours worked across the US economy.

That’s one of the takeaways from a new report by the research arm of consultants McKinsey & Co. that examines US labor-market trends through the end of 2030.It calculated that women are 1.5 times more likely to need to move into a new occupation than men […]

Women Workers to Be Hurt More Than Men by AI Wave, McKinsey Says

Women Workers to Be Hurt More Than Men by AI Wave, McKinsey Says

0m4{8q4bpkaf0w4ckq9pvn}g_media_dl_1.png Source: McKinsey Global Institut (Bloomberg) — Women have more to worry about than men from a coming wave of automation and artificial intelligence that could replace almost a third of hours worked across the US economy.

That’s one of the takeaways from a new report by the research arm of consultants McKinsey & Co. that examines US labor-market trends through the end of 2030.

It calculated that women are 1.5 times more likely to need to move into a new occupation than men during that period. The reason: They’re over-represented in the industries with lower-wage jobs the report reckons will […]

The Adoption of AI and the Future of IT Professionals

The Adoption of AI and the Future of IT Professionals

The adoption of artificial intelligence (AI) has been happening at an unprecedented rate. According to a report from the Technology Council of Australia and Microsoft, generative AI alone could contribute $115 billion to the Australian economy by 2030, assuming the current rate of adoption continues. Even if the rate slows down, it could still boost the economy by $45 billion.

AI has already been impacting businesses and the economy, resulting in increased productivity and efficiency for some while leading to job displacement for others. Sectors like finance, banking, media, marketing, and legal services have experienced the most impact, while manufacturing, […]

AI, automation couild kill your job sooner than thought. How COVID sped things up.

Automation was already expected to wipe out millions of jobs. The pandemic has accelerated their demise.

Nearly 9 million workers switched occupations during the health crisis – from 2019 to 2022 – 50% more than in the prior three years, according to a new study by McKinsey Global Institute.

Most left low-wage jobs in food services, customer service, office support and production. Meanwhile, high-wage positions grew in fields such as science, technology, health care, business, legal and management, the report says.By 2030, another 12 million workers are likely to change jobs as low-wage positions continue to dwindle and higher-paying professional roles […]

Women Workers to Be Hurt More Than Men by AI Wave, McKinsey Says

Women Workers to Be Hurt More Than Men by AI Wave, McKinsey Says

0m4{8q4bpkaf0w4ckq9pvn}g_media_dl_1.png Source: McKinsey Global Institut Article content

(Bloomberg) — Women have more to worry about than men from a coming wave of automation and artificial intelligence that could replace almost a third of hours worked across the US economy. Article content

That’s one of the takeaways from a new report by the research arm of consultants McKinsey & Co. that examines US labor-market trends through the end of 2030. Article content It calculated that women are 1.5 times more likely to need to move into a new occupation than men during that period. The reason: They’re over-represented in the […]

ChatGPT creator says AI advocates are fooling themselves if they think the technology is only going to be good for workers: ‘Jobs are definitely going to go away’

ChatGPT creator says AI advocates are fooling themselves if they think the technology is only going to be good for workers: 'Jobs are definitely going to go away'

Open AI CEO Sam AltmanBrian Ach/Getty Images for TechCrunch The rise of generative AI technology could have productivity benefits for many workers.

But OpenAI CEO Sam Altman says some jobs are "definitely going to go away."

New jobs could be created in their place, but not all displaced workers will benefit. Generative AI technology like ChatGPT could boost productivity for many workers in the years ahead. But some Americans are likely to lose their jobs in the process.That’s according to Sam Altman, the CEO of OpenAI , the company behind ChatGPT. Altman has said AI’s development […]