Tag: Services

All jobs susceptible to automation, says McKinsey Global Institute study

All jobs susceptible to automation, says McKinsey Global Institute study

Michael Chui, Partner, McKinsey Global Institute BIJOY GHOSH Chennai, August 23:

It is not just low-skill, low-wage jobs that are affected by automation; some high-skill, high-wage jobs too, are susceptible to automation, according to McKinsey Global Institute, the business and economics research arm of consultancy firm McKinsey.

Take for instance, the task of collecting and analysing data. Some of it falls into the category of low-skill, low-wage. But, says Michael Chui, Partner, McKinsey Global Institute, some of the activities that fit into the category of collecting and analysing data are done by those who have MBAs and other graduate degrees and […]

Job automation threatens peoples’ livelihoods. Can universal basic income save the day?

Job automation threatens peoples' livelihoods. Can universal basic income save the day?

Technological developments are rendering many jobs obsolete. Can implemeting a universal basic income provide a way of managing the social and economic implications of such a radical transformation? A robot faces off against a human in a game of ‘rock paper scissors’ at the Science Museum, London. Photo: Ian Nicholson / PA Archive/Press Association Images. All rights reserved. In early 2013, a colleague and I attended the inaugural meeting of the UK Robot Ethics association. There, we suggested that developments in robotics and computing technology meant that we needed to re-evaluate some of our economic thinking. Machines were now […]

The future of work

The dog days of summer are waning, pools are closing, and parents are taking a deep breath as they get to send their kids back to school. It’s Labor Day. But Labor Day is about more than a last hurrah before getting back to work after a summer of fun. Established by the labor movement, it is an annual national tribute to the contributions workers have made throughout history to the well-being and economic strength of the United States.

As we mark the achievements of the past, Labor Day also represents an opportune time to pause and take a look […]

The Robots Are Coming. Welcome Them

Is it time to bow to our robot overlords? Last week analysts at Morgan Stanley , MS 0.16 % using data from an Oxford University study , predicted that nearly half of U.S. jobs will be replaced by robots over the next two decades. Ouch. Maybe we should build a wall.

Cars that drive themselves? Waiters you don’t need to pay (or tip)? Self-folding clothes? Are we headed toward a post-job future? Signs are certainly there. Abundant Robotics, a company spun from the same Stanford Research Institute that brought us the mouse and networked computing, has begun testing a robot […]

Should you hire robots?

Should you hire robots?

With an increasing focus on automation through robotics, digitisation and even artificial intelligence , humanity is in the midst of a new industrial revolution.

In the next decade more than 40 per cent of the jobs we know today will no longer exist according to the Committee for Economic Development of Australia, replaced by jobs we can’t even imagine yet. A quick look at LinkedIn tells us the majority of roles being advertised have the word ‘ digital’ in the role title.

So how should business leaders respond to the questions and concerns of team members? At ANZ, the most frequently […]

Flipkart, Infosys, AskMe: Why recent spate of job cuts should worry us

Flipkart, Infosys, AskMe: Why recent spate of job cuts should worry us

New Delhi – In the last few days, newspapers have had screaming headlines of loss of thousands of jobs across the services sector.

On Monday , The Indian Express reported Infosys, the country’s second largest software exporter, has cut 500 jobs after the company recorded poor quarterly results were and lost a contract from RBS.

Over the weekend, reports said about 4,000 people were about to lose their jobs due to a suspension of operations at e-commerce website AskMe. Earlier Flipkart had asked about 700 underperformers to leave. Meanwhile, Snapdeal is shutting down a luxury fashion portal which could lead to […]

How trade impacts American jobs: Research roundup

How trade impacts American jobs: Research roundup

Container ship (Photo: Pixabay) Economic dogma asserts that free trade improves everyone’s wellbeing. For decades, both major American political parties have hailed free trade with other countries as critical to voters’ well being. But candidates in the 2016 presidential election have raised piercing questions about the benefits, with both major party nominees distancing themselves from the proposed Trans-Pacific Partnership (TPP), a pact with bilateral support that was seven-years-in-the-making. The Republican nominee is even proposing to tear up the North American Free Trade Agreement ( NAFTA ), a signature policy of the George H.W. Bush and Bill Clinton administrations.

Rapidly increasing […]

3 Ways Tech Is Empowering Freelancers

3 Ways Tech Is Empowering Freelancers

By now we’ve all heard of the term ‘shared economy’. Or at least the companies that spearheaded this movement, such as Uber , Airbnb , RelayRides or TaskRabbit .

After the 2008 financial crisis, we’ve seen a decline in quality corporate jobs. And thus people are supplementing their income with ‘side jobs’. But this so-called side hustle has become commonplace . According to Freelancers Union , 53 million people in the US are 1099 employees.

I recently connected with Will Lee, an Artificial Intelligence expert who studied at Stanford. He created his company, Verlocal , with the mission to teach and […]

The Shifts — Great and Small — in Workplace Automation

The Shifts — Great and Small — in Workplace Automation

Despite valid concerns and anxiety about machines displacing workers, human labor isn’t going away any time soon. Tasks that cannot be substituted by automation are generally complemented by it. There have been periodic warnings in the last two centuries that automation and new technology would wipe out large numbers of middle-class jobs.

In the early 19th century, for instance, a group of English textile artisans, known as Luddites, famously protested the automation of textile production by seeking to destroy some of the machines. A century later, concern rose again over “The Automation Jobless,” as they were called in the title […]

IT boom is going bust as freshers recruitment decreases: G Madhavan Nair

IT boom is going bust as freshers recruitment decreases: G Madhavan Nair

Eminent space scientist G Madhavan Nair said the IT boom is going bust with increasing automation leading to shrinking employment opportunities for freshers even as he favored Indian companies focusing on creation of high end jobs and the domestic market. The former Indian Space Research Organization chairman said he had mentioned a couple of years ago that the so-called IT boom would go bust and “that is the phenomena we are now seeing”. “The recruitment for freshers (IT engineers) last year was reduced and this year in many places it has come to zero, that means that type of […]