Tag: Services

IMF raises caution on rising AI

IMF raises caution on rising AI

Washington, DC

THE International Monetary Fund (IMF) has called for a careful balance of policies to tap into the potential of artificial intelligence (AI), which is projected to take over 40 percent of jobs around the world.
In a new analysis titled “AI will transform the global economy: Let’s make sure it benefits humanity’, the IMF states that AI could also affect income and wealth inequality within countries.
“We may see polarisation within income brackets, with workers who can harness AI seeing an increase in their productivity and wages and those who cannot fall behind. Research shows that AI […]

Bill Gates Anticipates AI Revolution’s Impact on Labor Market and Employment

The advance of AI technologies is reshaping the labor market, leading to significant reductions in human workforces globally. In emerging economies, certain call centers have astonishingly dismissed up to 90% of their staff as automation takes hold. Studies concerning the future of jobs predict a challenging transition period for workers as society shifts towards widespread automation.

While some view the rise of AI primarily as a marketing strategy designed to weather a potential “AI winter,” others, like Bill Gates, recognize the profound changes AI could bring. Gates, who has substantial investments in artificial intelligence, opined in a discussion on Sam […]

MALAYSIA MUST STUDY FUTURE DISPLACEMENT OF LABOURERS

Opinions on topical issues from thought leaders, columnists and editors.

Seventeenth century English poet William Blake, in the poem ‘London’ – considered to be one of his greatest works – when describing the people of London in the city, lamented that in every face, he “had met”, he found that it revealed “weakness” and “marks of woe”.

Blake penned these thoughts to paper at a time when England was beginning its transition to the industrial revolution – a rather tumultuous time for the country. While the industrial revolution paved the way for modernisation which led to the country’s dramatic economic advances […]

How Automation Influences the Future of Work

How Automation Influences the Future of Work

The integration of artificial intelligence (AI) into the workplace is no longer a matter of future speculation—it’s an evolving reality reshaping industries and job roles. Katharina Grienberger, a labor market researcher, probes the extent to which various professions could technically be substituted by machines, offering fresh insights into future trends.

Professions across the spectrum, from editorial roles to specialized technical jobs, are experiencing the impact of tools like ChatGPT . These innovative AI applications do not only enhance productivity but also provoke questions about the future of human employment in certain sectors. According to the data, the rise of AI […]

The 10 Slowest-Growing Careers That Still Pay Well — for Now

The 10 Slowest-Growing Careers That Still Pay Well — for Now

A mailman delivering mail. In today’s rapidly evolving job market, certain careers that traditionally offered security and high pay are now experiencing slower growth. Technological advancements, shifts in consumer behavior, and economic changes are reshaping the landscape.

Whether its because AI is becoming more incorporated into that, or not much promotion growth, or simply because the times are changing — these jobs still hang a decent salary despite these disadvantages. GoBankingRates looked at data from ZipRecruiter, Indeed, and Salary.com to find the average income being made with these jobs in the United States as of 2024. Here’s a look at […]

How Chicago, Illinois can prepare so workers don’t become obsolete

How Chicago, Illinois can prepare so workers don’t become obsolete

Jobs are the best way to escape poverty, but the workplace will continue to change rapidly. To ensure Illinoisans don’t lose the jobs that lift them up, job skills will need to evolve along with education.

The best way for someone to rise out of poverty is work. The poverty rate for full-time workers is under 2% nationally compared to an overall poverty rate of 11.5% for the general population.

Work is changing rapidly because of innovation, technological developments, automation, artificial intelligence and remote work. These developments displace many low-skill workers and lead to an expanding skills gap. If we […]

Robots coming to Walmart warehouses

Robots coming to Walmart warehouses

Automation improves workplace safety, makes job easier for associates, says company Walmart Canada will soon have robots working at its warehouses in Ontario, according to a report.

The multinational retail corporation is introducing material handling robotics and automation technologies that, it says, will keep “operations bustling” and improve ergonomics for associates.

This comes after the employer piloted its automated receiving solution at their Regional Distribution Centre (RDC) in Calgary in Alberta back in March."We’re super excited about what we’ve done in Calgary and we’re super excited to scale that and get it into our other sites," said Matt Kelly, Walmart Canada’s […]

Outsourcing founder explains why a Manhattan restaurant uses a staffing firm in the Philippines that pays cashiers a few dollars an hour: ‘The cost is admittedly cheaper than the U.S.’

Outsourcing founder explains why a Manhattan restaurant uses a staffing firm in the Philippines that pays cashiers a few dollars an hour: ‘The cost is admittedly cheaper than the U.S.’

Fast-food chains have increasingly relied on automation to save on labor costs. Trying hard to stay afloat in a restaurant industry spending 36% of its cash on labor and with minimum wage creeping to $16, a cadre of local New York City chains have found a shrewd way to save: enlisting the help of cashiers video calling in from the Philippines and paying them way less.

At Sansan Chicken , a fried-chicken joint in the East Village and Long Island City, cashiers on a large screen greet customers and answer questions they may have about the menu or their self-service […]

Engineering Innovation By Focusing On People

Engineering Innovation By Focusing On People

[Innovation can engender negative connotations for many people, emanating from their fear of change and its unknown implications or consequences to the nature of work and the potential elimination of jobs. In our new business operating environment of accelerating change, ongoing education and case studies are critically needed to demonstrate to business leaders and employees how changing conventional ways of doing things can lead to better, safer, more rewarding workplaces and enhanced careers and industry leadership. The ability of innovation and technology to enrich industries and communities is only beginning. It is still underserved and “a wide-open space” for […]

AI gives, even as it takes away jobs

AI gives, even as it takes away jobs

Image by Google Gemini Image creator, based on a prompt by Gadget. A year ago, as the hype around generative artificial intelligence (AI) was reaching a crescendo, investment bank Goldman Sachs predicted it would replace 300-million existing jobs. That was well up from the World Economic Forum’s “The Future of Jobs Report 2020,” which had said AI would replace 85-million jobs within five years. However, it tempered this forecast with the expectation of 97-million new jobs.

Clearly, such predictions are a thumb-suck, and have rightfully been derided. So, by the time the WEF produced the 2024 version, it had come […]