Tag: Services

Will You Lose Your Job in a Few Years After Disruptive Technology Takes Hold?

Will You Lose Your Job in a Few Years After Disruptive Technology Takes Hold?

Many have predicted that millions of jobs are in line to become extinct over the next two decades due to automation, but it may not spell the end of overall employment.(Antara Photo/R. Rekotomo) Manila. Many have predicted that millions of jobs are in line to become extinct over the next two decades due to automation, but it may not spell the end of overall employment.

A study by McKinsey Global Institute released in 2017 found that up to 800 million global workers, or one-fifth of the global workforce, will lose their jobs to automation, which is expected to come into […]

Building Your Future: The future of consultants

Building Your Future: The future of consultants

Artificial intelligence is set to play a major part in construction. Where does that leave the humans who work in the sector? Is your job safe from computer automation? It’s a question construction consultants will increasingly have to start asking themselves. And if you think you’re immune, you might need to think again.

We may be used to the idea of robot automation on manufacturing production lines, but white-collar professionals are now feeling the heat from new digital technologies, particularly artificial intelligence (AI), given the exponential growth in computing power and algorithm-based computer systems. There is talk of automated nurses, […]

ADB seminar considers challenge of technological change, globalization, and jobs in Asia

ADB seminar considers challenge of technological change, globalization, and jobs in Asia

Second, automation takes place only where it is both technically and economically feasible, and it has so far been concentrated in the region’s capital-intensive manufacturing with relatively low employment levels.

“Advances in new technologies will raise incomes and increase demand from Asia’s rising consumer class,” ADB President Mr. Takehiko Nakao said at the Governors’ seminar during ADB’s 51st annual meet. (Image Credit: Twitter) As Asia and the Pacific seeks inclusive and sustainable economic growth, countries are adapting to the possibility that new technologies in fields such as robotics and artificial intelligence may lead to challenges for some industries and […]

The epic mistake about manufacturing that’s cost Americans millions of jobs

The epic mistake about manufacturing that’s cost Americans millions of jobs

Looking back, there were two kinds of people who lived in America in 2016: people who believed Donald Trump, and people who believed data.

Trump claimed on the campaign trail that globalization had destroyed US manufacturing —and in the process, the American economy—by letting China and other countries steal American factory jobs. From the turnout at Trump’s rallies and the “Make America Great Again” stickers slapped on bumpers across America, it was clear the message was resonating.

The data camp didn’t get it. Yes, the US had hemorrhaged manufacturing jobs, losing close to 5 million of them since 2000. Trade may […]

Figures of the week: The future of work in Africa

Figures of the week: The future of work in Africa

Automation, artificial intelligence, and other technological advances associated with the Fourth Industrial Revolution are changing the nature of work globally. A new report, The Future of Work: Regional Perspectives [1] , assesses what rapid technological progress could mean for developing and emerging economies. In the chapter focusing on Africa, the report finds that new technologies could enable much-needed productivity growth and stimulate new types of economic activities; for example, retail and financial services given the high penetration of mobile devices in the region. However, a technologically driven rise in productivity could also mean that fewer people are needed to […]

Philippine Finance Secretary says disruptive technologies prompt rethinking of development banking

Philippine Finance Secretary says disruptive technologies prompt rethinking of development banking

Philippine Finance Secretary Carlos Dominguez III stated that disruptive technologies prompt for rethinking of development banking strategies to make economies more inclusive.

According to a recent press release by the Philippine Department of Finance, Finance Secretary Carlos Dominguez III has called for the rethinking of development banking strategies to make economies more inclusive amidst the rise of disruptive digital technologies.

At a Technology for Inclusion Conference held at the Asian Development Bank (ADB) in Manila, Finance Secretary Dominguez noted that advances in healthcare, education, communications and productivity that were principally driven by the digital revolution helped improve the average life expectancy […]

Employment in the age of automation: Preparing labour with future-ready skills is essential

Employment in the age of automation: Preparing labour with future-ready skills is essential

Automation and the growth of technologies like artificial intelligence (AI) are resulting in a better, safer and more efficient world. Investments in automation are pouring in. McKinsey

estimates that tech giants worldwide spent anywhere between $20-30 billion on AI in 2016.

Interestingly, one of the key drivers of these spends is the falling cost of capital. The unit cost of capital has dropped to less than 0.6 times the unit cost of labour. This amounts to a 16x drop from the unit cost of labour in the early 1980s. This imbalance is flooding research in AI and robotics with money. These […]

The Future of Work is Human + Machine

The Future of Work is Human + Machine

The debate surrounding today’s smart machines often reminds me of the legend of John Henry, which dates from the dawn of the Second Industrial Revolution. You may remember John Henry as the “steel-driving man” who went head-to-head against a steam-powered hammer to prove that a man could outperform a machine. He won the contest, but his heart burst in the effort and John Henry died.

In the modern version of that American folktale, machines are coming to take away our jobs again. This time, it is robotics, artificial intelligence , and other digital technologies that will supposedly transform our companies […]

Anant Kale On The Automation Revolution And Which Jobs Robots Will Take

Anant Kale On The Automation Revolution And Which Jobs Robots Will Take

Industry dialogue about artificial intelligence and the new services featuring it are all well and good. Seriously, though, what does it mean for my job? AppZen CEO and co-founder Anant Kale doesn’t have all the answers, but offers a compelling case for why, as a general statement, the humans will be alright.

Gartner predicts that artificial intelligence will create 2.3 million jobs by 2020 while eliminating 1.8 million positions in other sectors at the same time. According to Capgemini’s Digital Transformation Institute, four out of five companies have already seen jobs created as a response to their AI initiatives.

In other […]

Why you should hate your job

Why you should hate your job

How the reality of employment is one of perpetual disappointment and the case against the work ethic Do you like your job? Maybe you do, but I think you should reevaluate. At the very least, I think you should be uncomfortable with the fact that you live in a system that compels you to have a job, particularly if that job is neither necessary for your own well-being nor the well-being of others. Thanks to advances in robotics and AI, we may be close to building a society in which work, as we currently know it, is no longer […]