Tag: Services

The role of technology in employment

The role of technology in employment

Representative image Rachit Mathur

By 2022, WEF expects that job losses due to technology will diminish from 31 percent to 21 percent, a 10 percent decay.

Popular expressions, for example, Industry 4.0, Artificial Intelligence, Automation, Machine Learning and so forth are humming around businesses and crosswise over geologies for quite a while. While these mechanical progressions guarantee a dreamlike future, forecast of a loss of employment because of human substitution is likewise anticipated. Experts contend that while technology will replace semi and unskilled employments, it also will proclaim another period of creative, innovative jobs.Technology intercession is inescapable in any circle. […]

How technology can be used as a catalyst for development

How technology can be used as a catalyst for development

In this century, the power of technology is not only evident, but also undeniable. Technology’s power keeps increasing as new innovations keep rising day by day, and if it is used right, technology has the power to be a catalyst for change, bringing development to both nations and individuals.

While some people fear this immense power of tech, some are actually investing big bucks in it. People are working day and night to innovate new technologies. Although we are still a bit behind with the technological transformations, many Tanzanians are now waking up and engaging much more in the development […]

Rick Haglund: Research shows trade, not automation, is killing manufacturing jobs

Rick Haglund: Research shows trade, not automation, is killing manufacturing jobs

Manufacturers show their products on the South Lawn of the White House, Monday, July 15, 2019, at the Made in America Product Showcase. | Official White House Photo by Shealah Craighead, Flickr More than 5 million manufacturing jobs — almost 300,000 of them in Michigan — have been lost since the most recent employment peak in 1998.

Many economists have attributed the huge loss of good-paying manufacturing jobs mostly to booming productivity, enabled by the increasing use of robots and other automated processes in factories.

But Susan Houseman, vice president and director of research at the Kalamazoo-based W.E. Upjohn Institute for […]

Tesla boss Elon Musk backs a ‘basic income‘ for everyone

Tesla boss Elon Musk backs a ‘basic income‘ for everyone because robots will take away our jobs leaving us without any ‘meaning‘ in our lives

Tesla CEO Elon Musk has doubled down on his support of a universal basic income as a possible solution for unemployment caused by the rise of machines equipped with artificial intelligence taking over the workforce.

A universal basic income would give a standard amount of money to every citizen to cover basic expenses like food and living costs each month.At the World Government Summit in Dubai on Monday, Musk told a crowd that universal basic income […]

Tesla boss Elon Musk backs a ‘basic income‘ for everyone

Tesla boss Elon Musk backs a ‘basic income‘ for everyone because robots will take away our jobs leaving us without any ‘meaning‘ in our lives

Tesla CEO Elon Musk has doubled down on his support of a universal basic income as a possible solution for unemployment caused by the rise of machines equipped with artificial intelligence taking over the workforce.

A universal basic income would give a standard amount of money to every citizen to cover basic expenses like food and living costs each month.At the World Government Summit in Dubai on Monday, Musk told a crowd that universal basic income […]

Artificial intelligence will affect Utah more than other states, new study says

Artificial intelligence will affect Utah more than other states, new study says

Seth Wenig, Associated Press In this file photo from May 2, 2019, Cadet Cheyenne Quilter works with a virtual reality character named “Ellie” at the U.S. Military Academy at West Point, N.Y. Artificial intelligence is spreading into health care, often as software or a computer program capable of learning from large amounts of data and making predictions to guide care or help patients. SALT LAKE CITY — Utah’s economy could be more affected by artificial intelligence than other states, according to a new study by the Brookings Institution, a Washington, D.C.-based think tank.

The study predicted that Salt Lake and […]

View from India: New chips on the block

Internet of Things (IoT), artificial intelligence (AI) and new chips are opening out previously unexplored avenues.

Vertical-specific AI and deep learning chips are doing the rounds for facial- and speech-voice recognition. AI is being used to understand multitude gesture exchanges. Market drivers for AI, deep learning, machine learning and IoT include computer vision and neural computing, high bandwidth demands, image and video computing, and the broader move towards wider, increased digitisation.

AI has been making inroads into such diverse professions as healthcare, retail, education and automobile. Income tax is a relatively new vertical to tap AI solutions. The direct tax panel […]

Growth of value chains will be hurt by trade war: World Bank’s Aaditya Mattoo

Growth of value chains will be hurt by trade war: World Bank’s Aaditya Mattoo

Aaditya Mattoo, World Bank’s Chief Economist for East Asia and Pacific region. NEW DELHI : Aaditya Mattoo is the co-author of a World Bank Development Report (WDR) 2020 on global value chains (GVCs) and its role in powering a surge of international trade after 1990. In India on a short visit, Mattoo, the World Bank’s Chief Economist for East Asia and Pacific region, spoke of the impact of the US-China trade war on GVCs, the lessons India could learn from countries like Bangladesh and Vietnam and why automation and artificial intelligence need not necessarily lead to job losses. Edited […]

What Is The Future Of Work In The Tradable Sector?

What Is The Future Of Work In The Tradable Sector?

Last week we held a screening of the film American Factory at the Harvard Business School (HBS), attended by film director Steven Bognar and representatives of the production company, Participant Media . The event was part of the school’s Documentary Series, and it was an opportunity to discuss views on the future of work, especially manufacturing work in the heartland of America. NPR says we should all watch it , and now that I have seen it several times, I couldn’t agree more.

The film documents the establishment of a new automotive window glass manufacturing facility by the Chinese company […]

By the numbers: how automation is affecting financial services jobs

By the numbers: how automation is affecting financial services jobs

Andy Haldane, the Bank of England’s chief economist, has regularly hit the headlines for his outspoken opinions on artificial intelligence (AI) and automation. In 2015, Mr Haldane claimed the jobs of up to 15 million people across the country could be replaced by robots in what he called a "third machine age".

Last year, he again emphasised the possibility of a "hollowing out" of the labour market if AI continued to advance and automate roles that require cognitive skills. However, the OECD has downplayed the potential of mass unemployment, arguing that previous studies underestimated how difficult it is to automate […]