Tag: Services

Artificial intelligence could be a great equaliser

Artificial intelligence could be a great equaliser

The benefits of AI will accrue not only to the wealthy and technologists but also to the poor and disadvantaged

Artificial intelligence is going to make a lot of high-end services cheaper for the poor to easily access. Illustration: Kevin Hong for Bloomberg If 2021 was the breakthrough year for mRNA vaccines, then 2022 may be the breakthrough year for artificial intelligence. So far there have been major advances in text generation and image generation, and now investor Nat Friedman is predicting big developments in AI personal voice assistants. More innovation will surely follow.

With so much in […]

Artificial Intelligence Could Be a Great Equalizer

If 2021 was the breakthrough year for mRNA vaccines, then 2022 may be the breakthrough year for artificial intelligence. So far there have been major advances in text generation and image generation, and now investor Nat Friedman is predicting big developments in AI personal voice assistants. More innovation will surely follow.

With so much in the works, it is worth reviewing some basic principles of how AI is likely to affect the US and global economies.

First, more AI does not necessarily mean fewer jobs. Automation and mechanization have been around for centuries, and they create jobs as well as take […]

In 2023, mechanical engineering education will take a new turn as automation and robotics combine

In 2023, mechanical engineering education will take a new turn as automation and robotics combine

in 2023, mechanical engineering education will take a new turn as automation and robotics combine 1 In 2023, mechanical engineering education will take a new turn as automation and robotics combine

The field of mechanical engineering became more established as a means of creating, managing, and maintaining equipment throughout the first two industrial revolutions. In general, its core field of knowledge expanded to encompass manufacturing, materials, mechanics, thermodynamics, fluid mechanics, and machine design. It is both the forerunner and the recipient of other engineering forms. They will keep enriching it by coming up with, designing, constructing, and operating […]

America’s Critical Challenges Pose Serious Risks to Its Future

America’s Critical Challenges Pose Serious Risks to Its Future

Creative american flag with forex chart on blurry background. USA economy and dollar concept. Double exposure © Golden Dayz / shutterstock.com Today’s most critical challenges are impacting every American. These include the direction of globalization and Chinese relations, shifting demographics and labor shortages, and rising inequality and threats to American capitalism. Understanding these challenges, the risks they pose, and how to adapt will be necessary to survive and thrive in the years ahead.

Like falling dominoes, many of these challenges impact each other. For example, the key to America’s vibrant system of free-market capitalism lies in our ability to innovate […]

Universal Basic Income may not be the best solution for Indian economy

Universal Basic Income may not be the best solution for Indian economy

Representational image of Indian rupee | Pixabay Automation is an act of promoting machinery and estimating technologies to reduce human intervention in production. It is already in use in many fields like IT automation, home automation, business process automation and there’re so many. It’s been achieved for several means including mechanical, hydraulic, electronic devices etc.

But there’s a disadvantage which can be a huge problem and will have a big societal impact—unemployment. Experts suggest a solution named Universal Basic Income (UBI) which can be a way to feed those unemployed. I think it won’t be that easy to implement in […]

Will EVs Ruin The Midwest Economy?

Will EVs Ruin The Midwest Economy?

After manufacturing’s 40-year cycle of decline in the U.S., officials in Washington are trying to bring it back. This move could be a boom or bust for huge swaths of the American Midwest. This region once dominated the auto industry before rising global trade and automation sent domestic manufacturing employment into a tailspin. U.S. leaders hope that new laws such as the Inflation Reduction Act of 2022 will help businesses create the green manufacturing jobs of the future. Researchers believe modern factory jobs will require more education and could be less available than they were in the past. They […]

Food Automation – How AI and Robotics are Transforming the Future of the Industry

Food Automation – How AI and Robotics are Transforming the Future of the Industry

Technology isn’t typically the first thing that springs to mind when discussing problems with the food industry. However, in today’s scenario, automation in the food industry is indispensable to both food production and distribution.

Automation and robotics in the food industry are used by manufacturers to make and package food. By prolonging shelf life and improving food safety, technology has drastically improved food packaging. Food quality is improving as production costs decline. The reality of AI, robotics, drones, and 3D printing in the food industry is the inspiration for the subject that this article will discuss in detail.

Today’s technology, which […]

Amidst job loss concerns, experts say 5G brings employment opportunities for digitally-compliant Nigerians

Amidst job loss concerns, experts say 5G brings employment opportunities for digitally-compliant Nigerians

The imminent launch of 5G technology in Nigeria has been raising concerns about job losses as more businesses and processes are expected to get automated. This is premised on the fact that 5G technology will drive the massive deployment of Internet of Things (IoT) and Artificial intelligence (AI), such that less human labour would be required in offices and homes.

However, industry experts, while not discountenancing the fact automation will reduce human jobs in certain areas, said the technology will create huge opportunities for more jobs in different areas. According to them, the preceding technology, 4G, has created more digital […]

Delivering the US manufacturing renaissance

US manufacturing may be poised for an overhaul and a rebound, with a potentially significant impact on the nation’s overall economy. In the United States, manufacturing accounts for $2.3 trillion in GDP, employs 12 million people, and supports hundreds of local economies. Although that represents just 11 percent of US GDP and 8 percent of direct employment, the sector makes a disproportionate economic contribution, including 20 percent of the nation’s capital investment, 35 percent of productivity growth, 60 percent of exports, and 70 percent of business R&D spending (Exhibit 1). 1

In recent decades, the United States has seemed […]

Call centers in the Philippines: Why it’s here to stay

Call centers in the Philippines: Why it’s here to stay

THE rapid rise of automated technology and artificial intelligence (AI) in today’s business processes has set off a wave of panic in the call center industry, particularly in the Philippines, where call center outsourcing is a multibillion-dollar business.

The industry’s greatest fear is that AI-powered automation will slowly but surely replace many of the 1.3 million agents currently working in the Philippine BPO industry . Some even believe that rapid technological advances will cause contact centers in the Philippines to disappear entirely.

“While visions of contact centers run and staffed by C3POs may haunt those who work in them, these fears […]