Today, the U.S. exceeded three million COVID-19 cases and 132,000 deaths. In several states, new hotspots have rolled back plans to reopen businesses. The novel coronavirus has — and will continue — to profoundly impact the way we live and work.
For the moment, that includes a shift in the employment status of many Americans. More than 50 million people have filed for unemployment since mid-March. And while many states have made efforts to reopen businesses and return some sense of normality, these moves have led to a spike in cases and may prolong the pandemic and its ongoing economic […]
Are robots going to steal your job? No. However, they already have. Think about it. From customer service to transportation, there are tons of instances where machines have replaced humans. Both automation and artificial intelligence are going to significantly impact the job market of the future.
Automation is not a new concept. Think about the industrial revolution. The increased accessibility to machinery eliminated many employment opportunities. Automation vs. AI
People often get confused about the differences between AI and automation . By definition, automation is the implementation of hardware or software that allows for automated actions. In contrast, artificial intelligence […]
With more than 40 million Americans unemployed amid the coronavirus pandemic, there are thousands of jobs unlikely to ever return. Whether that’s because businesses will ultimately shutter (or permanently reduce staff) or industries will be reinvented, there are myriad unknowns when trying to chart projections for the economic future of the U.S. economy. A paper released in May 2020 by the Becker Friedman Institute at the University of Chicago projected that 42% of layoffs caused by the pandemic will be permanent .
In addition to fewer jobs being available in certain sectors, other employment sectors as a whole are at […]
The praise in America for low-paid essential workers on the front lines of the COVID-19 pandemic is long overdue, but it should be followed with meaningful reforms. Beyond raising the federal minimum wage, the United States desperately needs to overhaul its approach to technological innovation.
BOSTON – The low-wage workers who make up nearly half of the US workforce have long been neglected, steadily falling behind highly educated workers in expanding industries such as technology, finance, and entertainment. Since the 1970s, real (inflation-adjusted) wages have stagnated for prime-age men with less than a college education, and declined significantly for those […]
Technology may be getting more sophisticated every day, and slowly cannibalising manual tasks and administration, but data shows it’s not a future of robot overlords we face, so much as technology-assisted work.
That’s good news.
Tech that cuts out admin and gives us powerful insights into our customers frees us up from the daily grind.It allows us to use more of our innately human skills – like creativity, interpersonal skills, strategic-thinking and problem-solving.Here’s how to be part of it. SKILLS NO LONGER IN DEMAND Let’s skip over the bit where we point out the futility of competing with technology to […]
By now, even casual consumers of business news are aware of the emerging maxims regarding “the future of work” in the wake of COVID-19, and the economic and employment shocks it has thrust upon the global economy. The predominant orthodoxy can be summed up as follows: “The robots are here to stay .”
Robotic process automation, and organizations’ abilities to harness the benefits it promises, was already a disruptive economic force before COVID-19. Its benefits were easy enough to define: the reduction of human error, the effective elimination of time-consuming tasks, and higher overall levels of productivity for lower (long-term) […]
Credit: GE Aviation Ask the Editors: The Aviation Week Network invites our readers to submit questions to our editors and analysts. We’ll answer them, and if we can’t we’ll reach out to our wide network of experts for advice.
What will happen to the aerospace industry when 100,000 jobs are lost in the next two years?
Senior Business Editor Michael Bruno responds: Workers will be fortunate if it is only 100,000 jobs lost. We know already that tens of thousands of layoffs—not furloughs but permanent workforce reductions—have been set in motion. More are expected in the coming […]
Image Courtesy: reply.com Advances in the field of robotics which is a mix of computer science, mechanical and electronics engineering, and science have implied that machines or related types of automation currently do the work of humans in a wide range of settings, for example, medicine, where robots perform medical procedures previously done by the surgeon’s hand. Robots have made it simpler and less expensive for employers to complete work. The drawback, in any case, is that some sensibly well-paying jobs that gave white-collar class work to people have become the area of machines.
The present workforce faces various challenges […]
The COVID-19 pandemic has exposed a new vulnerability among firms that rely on human labour. In order to comply with public health directives on physical distancing, many businesses have had to completely shut down their operations for months. Others remained functional thanks to teleworking, which many intend to prolong and even adopt permanently. As experts contemplate the long-term repercussions of the pandemic on the economy, many expect firms to ramp up their adoption of new technologies to better weather the post-pandemic recession and insulate themselves from future health crises.
Just a few years ago, policy-makers became concerned about the prospect […]
Where have all the robots been hiding during the Covid-19 crisis?
For about a decade, we have heard rumors that a new generation of automated technologies have learned to do our jobs. If these tech prophecies were true, robots and algorithms should have been ready to step in during the lockdowns and finally prove that they can work more safely, cheaply, and efficiently than we can. But when Covid-19 gave the stage to automation, people stepped into the spotlight.
Robots aren’t staffing hospitals, stocking shelves at grocery stores, cooking and serving meals, disinfecting bathrooms, delivering packages, driving buses, or educating students. […]