No, the Pandemic Will Not Bring Jobs Back From China

No, the Pandemic Will Not Bring Jobs Back From China

No idea has been more central to U.S. President Donald Trump’s philosophy of “America first” than bringing jobs back home. In his 2017 inaugural address, he lamented that “one by one, the factories shuttered and left our shores, with not even a thought about the millions upon millions of American workers left behind.” Under his presidency, a newly elected Trump promised, “we will bring back our jobs.”Lighthizer cast the pandemic as an overdue comeuppance for U.S. companies that had offshored production to lower-wage countries.

More than three years later and in the most unlikely of scenarios—a pandemic that has killed […]

36 Million Unemployed: How AI Can Create Jobs

36 Million Unemployed: How AI Can Create Jobs

Artificial Intelligence (AI) is the transformative technology for this decade. With 36 million unemployed in US today, can AI also create jobs? The World Economic Forum in 2020 forecasted a strong increase in AI jobs globally over the next 2 years, with new jobs per 10,000 opportunities increasing from 78 today to 123 in 2022. World Economic Forum published research in Jan 2020, shows jobs in AI almost double by 2022. AI started with machines being programmed to give specific responses for certain questions. Siri could pull the weather report upon request. Machine learning is the new approach where […]

The rise of robot recruitment

The rise of robot recruitment

Human connection is more important than ever as the world battles COVID-19 SoftBank announces $41bn asset sale after COVID-19 struggles Applicant tracking systems, or ‘resume robots’, can instantly scan CVs for keywords and essential skills, eliminating candidates so that human recruiters don’t have to. This is changing the role of HR teams significantly Nobody likes applying for a new job. As much as you may despise your current role, the process of tidying up your CV and crafting an eloquent cover letter that simultaneously portrays you as an independent thinker and the world’s best team player is tedious work. […]

Reshoring a double-edged sword for Korea

Reshoring a double-edged sword for Korea

gettyimagesbank Higher labor costs may damage competitiveness
By Kim Bo-eun
The government should take a more cautious approach in its drive to bring manufacturing back home, known as its reshoring initiative, as it can be a double-edged sword for the Korean economy which relies heavily on exports, experts said, Sunday.
Pushan Dutt, a professor of economics at INSEAD, said "All firms will want to build resilience, sacrificing efficiency for resilience."
But at the same time he noted, "For export-oriented advanced economies like Korea, reshoring means that the products they export will be more expensive and less competitive." For […]

Why hyper-automation can replace human employees post Covid-19

Why hyper-automation can replace human employees post Covid-19

One of the hottest trends in enterprise software over the past few years has been Robotic Process Automation (RPA). In layperson’s terms, RPA is simply the ability of a computer program to carry out repetitious tasks following a set of rules. RPA’s market size was already north of US$ 1 billion in 2019, and is projected to grow at 33 per cent compound annual growth rate (CAGR) until at least 2027. The ease of adoption for RPA and the ubiquity of issues which RPA can solve have correspondingly led to sizeable investments in the nascent sector. While the actual […]

Why Our Economy May Be Headed for a Decade of Depression

Why Our Economy May Be Headed for a Decade of Depression

The worst is yet to come? Photo: Spencer Platt/Getty Images In September 2006, Nouriel Roubini told the International Monetary Fund what it didn’t want to hear. Standing before an audience of economists at the organization’s headquarters, the New York University professor warned that the U.S. housing market would soon collapse — and, quite possibly, bring the global financial system down with it. Real-estate values had been propped up by unsustainably shady lending practices, Roubini explained. Once those prices came back to earth, millions of underwater homeowners would default on their mortgages, trillions of dollars worth of mortgage-backed securities would […]

Sweden’s Former Minister Of Finance: AI Is Vital To Avoid ‘Perfect Storm’ Of Unemployment

Sweden’s Former Minister Of Finance: AI Is Vital To Avoid ‘Perfect Storm’ Of Unemployment

Certain European countries that have been hit hard by COVID-19 also all have a reduced ability to … [+] Fitness classes are being conducted online, cafés and restaurants are stretching delivery services to their limits , and tech bosses expect that remote work will be a ‘permanent feature’ after the dust has settled. But how will countries that have been badly affected by COVID-19 recover properly without a solid digital foundation to build on?

Lost in digitization

Whilst speaking with Anders Borg, Sweden’s former Minister of Finance and Senior Advisor at IPsoft , he relayed some startling correlations between […]

Watch: The Real Role of Robots in Fulfillment

Watch: The Real Role of Robots in Fulfillment

A robot is just a collection of metal, plastic and rubber. What matters are the tasks and applications that it’s given — and how it works alongside humans, says Guy Courtin, global alliances with 6 River Systems.

SCB: What’s the status of automation in the area of fulfillment right now?

Courtin: We’ve seen it in manufacturing. But when it comes to fulfillment, we’re really on the cusp of a major growth spurt for automation. If you look at everything that’s happening within the four walls of the warehouse, as well as in things like last-mile delivery and driverless […]

An AI future set to take over post-Covid world

An AI future set to take over post-Covid world

Crucially, a technology that had till now been crawling — or at best, walking slowly — will now start sprinting. (Representational Image) Written by Seuj Saikia

Rabindranath Tagore once said, “Faith is the bird that feels the light when the dawn is still dark”. The darkness that looms over the world at this moment is the curse of the COVID-19 pandemic , while the bird of human freedom finds itself caged under lockdown, unable to fly. Enthused by the beacon of hope, human beings will soon start picking up the pieces of a shared future for humanity, but perhaps, […]

COVID-19: What coronavirus has shown us about the future robots, AI in everyday life

COVID-19: What coronavirus has shown us about the future robots, AI in everyday life

Stock image This article, written by Amanda Turnbull , York University, Canada , originally appeared on The Conversation and has been republished here with permission:

Not so long ago, the concept of a fully automated store seemed something of a curiosity. Now, in the midst of the COVID-19 pandemic, the idea of relying on computers and robotics, and checking out groceries by simply picking them off the shelf doesn’t seem so peculiar after all.

Part of my research involves looking at how we deal with complex artificial intelligence (AI) systems that can learn and make decisions without any human involvement, […]