Tag: Services

The Future of Work: Predicting Job Market Trends

The Future of Work: Predicting Job Market Trends

As we peer into the crystal ball of the job market for 2024, a few trends emerge that will shape the future of employment. From technological evolution to shifts in compensation and hiring practices, the working world is poised for some intriguing changes. The Tech Takeover Continues

No surprise here – technology continues to be a significant player in shaping job market trends. Artificial Intelligence (AI), once a buzzword in tech circles, is now flexing its muscles in the job market. As AI becomes more integrated into our work lives, those with strong data skills and management experience […]

The Impact of Robots and Machines on Employment in the 21st Century

Introduction

The 21st Century is marked by an unprecedented surge in technological innovation, with robots and machines at the forefront of this transformative wave (Kolade & Owoseni, 2022; Nabila et al., 2021). While these advancements hold the promise of revolutionizing industries, they also cast a shadow of uncertainty over the future of employment. Further, this revolution necessitates educating more people on current technologies to increase productivity in various industries like the textile industry. As robots and machines become increasingly integrated into various sectors, examining the consequences and stakeholders involved in this transformation is imperative. This essay explores this complex […]

Generative Artificial Intelligence Could Increase The Racial Wealth Gap By $43B, Report Says

Generative Artificial Intelligence Could Increase The Racial Wealth Gap By $43B, Report Says

Two things can be true at once. For instance, artificial intelligence (AI) could lead to advancement, but it could also lead to regression.

According to Forbes, a study by McKinsey’s Digital Practice and the McKinsey Institute for Black Economic Mobility showed that almost $2 trillion “in wealth” is expected to be created from generative AI in the United States — resulting in $500 billion reportedly going to households. What this means is that a “projected 143.4 million U.S. households in 2045 will get an average increase of $3,400 in new wealth.”

However, on the other end, since Black households are […]

Schneider Electric Integrates Hailo Technologies’ AI Processors to Improve Edge AI Capabilities

Schneider Electric , a supplier in the digital transformation of energy management and automation, announced a technology collaboration with Hailo Technologies , an Artificial Intelligence (AI) chipmaker, to integrate Hailo’s advanced processors within Schneider Electric solutions, thus improving its Edge AI Capabilities. AI offers significant benefits in enhancing the performance, efficiency, and capabilities of industrial automation systems, allowing industries across all segments to better position themselves for the future.

Edge AI processors with low-power consumption enable real-time, high-accuracy data analysis at the edge, increasing the intelligence and efficiency of industrial automation solutions By integrating the Hailo-8 AI processor within its […]

How to prevent an AI Apocalypse

How to prevent an AI Apocalypse

By Robert Skidelsky

LONDON – A little over a year ago, the San Francisco-based OpenAI released its chatbot, ChatGPT, triggering an artificial-intelligence gold rush and reigniting the age-old debate about the effects of automation on human welfare.

The fear of displacement by machines can be traced back to the nineteenth-century Industrial Revolution, when groups of English handloom weavers, known as Luddites, began destroying the power looms that threatened their livelihoods. The movement , which peaked between 1811 and 1817, was ultimately suppressed by government forces, and its leaders were executed or exiled to Australia.But the Luddites’ arguments found an […]

Democratising background checks with verifiable credentials

Democratising background checks with verifiable credentials

HR Technology

Verifiable credentials (VCs) are a cutting-edge solution for secure employment verification, merging automation and tech for reliable digital identities. They excel in ensuring trust and efficacy in verifying credentials and personal data. Background Checks originated in the early 20th century as a response to concerns about workplace trustworthiness. Initially focused on reference checks, they evolved into comprehensive investigations. The development of computer databases in the latter half of the century automated and expanded background screening, incorporating elements like credit histories and educational credentials. In recent decades, online platforms and a heightened focus on security have standardised background […]

AI and Automation: Reshaping the Workforce and Consumption

AI and Automation: Reshaping the Workforce and Consumption

As we plunge deeper into the digital age, factories are beginning to operate in darkness, devoid of human presence, where machines tirelessly produce goods in an environment unfit for their human counterparts. Machines don’t require light to see or climate control to operate efficiently, marking a stark contrast to traditional production environments. The future of work is being reshaped by automation and artificial intelligence (AI), a vision that has slowly been materializing over the past few decades. Prominent figures such as the late leadership expert Warren Bennis have humorously suggested that the workforce of the future could consist solely […]

What will we do after the end of work?

What will we do after the end of work?

Visitors tour the industrial robot exhibition area at the 2023 World Intelligent Manufacturing Conference in Nanjing, China, on December 6, 2023. Future Publishing (Future Publishing via Getty Imag) In some factories, all work is done in the dark. There is no heating or air conditioning, because no machine has ever complained about the cold. Robots complete the entire production process, presaging a future of automation . “The factory of the future will have only two employees, a man and a dog,” quipped the American writer Warren Bennis, a pioneer in the field of business leadership, in his book On […]

The Automation of General Intelligence

The Automation of General Intelligence

An illustration of Henry Case and Molly Minions from Neuromancer, painting by Juan Giménez. We want to ask the right questions. How do the tools work? Who finances and builds them, and how are they used? Whom do they enrich, and whom do they impoverish? What futures do they make feasible, and which ones do they foreclose? We’re not looking for answers. We’re looking for logic.
—Logic Magazine manifesto, 20171 We live in the age of digital data, and in that age mathematics has become the parliament of politics. The social law has become interwoven with models, theorems […]

What we’re reading about productivity growth and jobs

What we’re reading about productivity growth and jobs

Employees who work on a production line Productivity is the key driver of economic growth, accounting for more than half the differences across countries in GDP per capita.

There are long-standing debates, however, on the effect of productivity growth on jobs. Higher productivity enables firms to expand production, employment, and wages – but it also reduces the number of workers needed to produce a given amount of output, possibly decreasing the demand for workers. New technologies further disrupt how productivity-enhancing investments translate into jobs.

Hence, the link between firm-level productivity growth and jobs is shaped by two opposite effects: > A […]