Tag: Services

‘Make in India’ loses track, while country focuses on employment in IT sector

‘Make in India’ loses track, while country focuses on employment in IT sector

India is unable to create millions of low-skilled jobs in manufacturing and industry, while employment is getting concentrated in the highly skilled IT and financial services and in low-productivity agriculture. Speaking at the Rising India event organised by a media group last week in Delhi, well known American economist Paul Krugman, who won the Nobel Prize in 2008 for his work on international trade theory, said India has achieved rapid pace of (economic) transformation in the last 30 years, but it still suffers from high degree of economic inequality, visible poverty and poor infrastructure. Talking about challenges facing India, […]

Artificial Intelligence and the future of work

Artificial Intelligence and the future of work

There may be a debate in India as to whether enough jobs are being created or whether there is jobless growth. There may be a debate in India as to whether enough jobs are being created or whether there is jobless growth. In the wider world, there is a big debate on the likely effects of artificial intelligence ( AI) and robotics. There is a fear that robots will replace not just manual labour but a lot of brainwork as well. There are scenarios being painted where no human being may be needed for any paid work and robots […]

Future Development Reads: Reconciling the politics with the economics

Future Development Reads: Reconciling the politics with the economics

Editor’s Note:

At the end of each week, one of the rotating editors for Future Development — Shanta Devarajan , Wolfgang Fengler , Indermit Gill , or Homi Kharas —provides recommended literature on a specific development topic.

We live in an era where political debates appear much shriller, and polarized, than economic analysis would predict. A case in point is the effect of trade opening on wage inequality, which, according to economics, could be ambiguous whereas the political rhetoric, especially in rich countries, is that it is always harmful. A recent paper in VoxDev reconciles this difference by […]

Bain forecasts 10-15 year automation driven economic boom but many impacts from wages losses and job losses

Bain forecasts 10-15 year automation driven economic boom but many impacts from wages losses and job losses

Bain Consulting forecasts that the coming phase of automation could eventually eliminate up to 50% of all current jobs. The job activity analysis only suggests the potential of technology to replace humans with hardware and software. It does not take into account the actual market conditions that would lead businesses to automate all work that could be automated. To arrive at an estimate of the likely impact of automation, they looked at the market context within which it could happen, considering four major factors:
1. job scarcity;
2. the impact of automation on the overall cost of a product […]

Automation destroying jobs

Automation destroying jobs

5 million new jobs, 20 Aug 2017 Weak wage growth could already be a sign of automation creating an economy in which small number of very rich employ armies of poor. One researcher warns that if we don’t fix job displacement caused by technology we could face a global crisis. Many jobs are likely to disappear due to technology and automation, but many more are likely to be created. Automation, jobs, What people forget is that when there are innovations that destroy jobs—and, as I say, Can Trump stop the automation revolution and save US jobs? […]

How will automation affect the global workforce?

How will automation affect the global workforce?

Robots weld vehicle panels at the Nissan Sunderland Plant in North East England. Forecasting the effect of automation on the global workforce is difficult. Oli Scarff/AFP Predicting the course of technological progress is extremely difficult.

Just because worries about human obsolescence ultimately turned out to be misplaced in the Industrial Revolution doesn’t mean that the same happy result must necessarily prevail this time around. So the persistent question about artificial intelligence – or “robots” in common parlance – is whether they will make human workers obsolete.

Already, occupations that employ very large numbers of people, such as commercial trucking, are under […]

Insight: Is NZ Ready for Artificial Intelligence?

Insight: Is NZ Ready for Artificial Intelligence?

Dire warnings have been made about the impact of artificial intelligence, robotics and automation on jobs and society. But after being flagged for years, what steps have New Zealand and New Zealanders taken to be ready? New Zealanders are used to the idea of automation and industrial robots in manufacturing and some homes have those disc shaped vacuum cleaners roaming the house of their own volition in order to keep everything spick and span. Many people have exchanged messages with chat bots online in order to get a few questions answered. But a New Zealand company, Soul Machines, has […]

How will automation affect jobs, skills, and wages?

How will automation affect jobs, skills, and wages?

As the nature of work changes with automation, millions of people may need to switch occupations and acquire new skills.

Automation will displace many jobs over the next ten to 15 years, but many others will be created and even more will change. Jobs of the future will use different skills and may have higher educational requirements. In this episode, we ask experts how we can retrain workers for the new world of work and what the shifts might mean for occupations and wages.

Peter Gumbel: Welcome to our latest podcast in the series on the new world of […]

One of the big issues in India is jobs; job statistics in India are not very good: Raghuram Rajan

One of the big issues in India is jobs; job statistics in India are not very good: Raghuram Rajan

former RBI governor Raghuram Rajan , former governor of Reserve Bank of India, expressed grave concern over the present situation of job creation in India. He said “one of the big issues in India” and “job statistics in India are not very good. We need to do more.”

He was speaking at the Global Digital Summit Furture in Kochi on 23 March.

On being asked how the government can create more jobs, Rajan said "One of the big issues in India is jobs and how can we create more of them. We don’t want any jobs but good ones. And a […]

Artificial intelligence & machine can lead to more job loss, says Raghuram Rajan

Artificial intelligence & machine can lead to more job loss, says Raghuram Rajan

Raghuram Rajan Raghuram Rajan at the Global Digital Summit #Future in Kochi on Friday , DNA Former Reserve Bank of India (RBI) governor Raghuram Rajan has said that artificial intelligence (AI) will pose a threat to job creation in the country. Speaking at the Global Digital Summit #Future in Kochi on Friday, Rajan said growing automation can lead to substantial job losses in the future.

"There has been a steady loss of jobs in routine and unskilled segments. Routine skilled jobs are also being replaced as it is easy to automate them. In future, the routine jobs will be replaced […]