Recent advancements in robotics and artificial intelligence have some experts worrying about the coming obsolescence of the human worker. Some are even calling for a universal basic income provided by the government for everyone, under the assumption that work will become scarce. But economists seem to have a pretty different view from the futurist and Silicon Valley types.
One of the reasons that economists are skeptical is because much of the fear that has recently been stoked in the media is familiar. Every few decades, predictions about the “end of work” have pervaded public discourse, and they’ve always been wrong. […]
On Wednesday, government IT experts at GovLoop’s online training “How Automation Creates Full-Organization Effectiveness” were pleased that over half, or 58%, of respondents said they were not worried about losing their jobs to automation.
Duane Schell, Chief Technology Officer for the state of North Dakota, said he was not surprised. “Is there some fear? Obviously yes. But that’s certainly not the objective,” Schell said, who spoke at the session in Gov’s IT Evolution Virtual Summit .
“The objective is to try and provide better services to citizens and allow employees to play to their strengths for important work,” he added.Admittedly, the […]
The quest for high productivity with minimal capital has traditionally led US organizations to outsource manufacturing to countries such as China or Mexico, where labor and resources are cheaper, and profits, in turn, can be maximized.
Outsourcing began as a disruptive strategy as far back as the early 18th century, in line with the Industrial Revolution. Technological advancements then meant businesses could begin mass production, but this advantage came at a cost. Companies realized they could retain their structure by outsourcing labor to contractors when demands required.
In the 1970s, however, with the rise of consumer electronics, there was a wide […]
The rate of creation of new jobs in the more technologically sophisticated economy was much slower than before, leading to the phenomenon of jobless growth. The current problems of the Indian economy have been aggravated by the government’s refusal to accept the clear body of evidence suggesting an economic slowdown. Hence the government does not seem bothered to tackle the challenges of declining growth, rising inflation, and growing unemployment. While economic growth and inflation can still be addressed by corrective policies, unemployment is a more long-term difficulty that cannot be sorted out by appropriate macroeconomic policies alone. Unemployment is […]
Every day, global trends are reshaping society and the business landscape. Here are 10 insights into how the world is changing—and where we are heading. 10 Global Insights into a Transforming World from 2019
Every day, global trends are reshaping society and the business landscape.
Today’s infographic from McKinsey Global Institute (MGI) presents a snapshot of 10 insights into how the world is changing, based on its research work from 2019.How did we get here, and where are we going? A Connected World in Flux Globalization is making the world “shrink” every day, as humans and trade become increasingly connected. […]
Perhaps no industry has been hit as hard by the labor shortage as the construction industry, so it should come as no surprise that contractors would look to automation to fill the gap. The Midwestern Economic Policy Institute, along with the Project for Middle Class Renewal, dove into the issue and concluded that as many as 2.7 million construction jobs could be automated by 2057.
That level of displacement represents 49% of the America’s blue-collar construction workforce, the report says, adding that automation would also eliminate nearly 500,000 non-construction jobs in the next 37 years as well.
“Advancements in technology have […]
A nation of takeout deliverers
The adoption of industrial robots in France makes manufacturing businesses more productive and profitable but at the expense of jobs, according to a recent paper presented by the National Bureau of Economic Research, a private, non-profit, non-partisan research organization in America.
In a paper titled "Competing with Robots: Firm-Level Evidence from France," economics professors Daron Acemoglu (MIT), Claire LeLarge (University of Paris Saclay), and Pascual Restrepo (Boston University) analyzed 55,390 French manufacturing firms to study the economic impact of robot adoption.Within that data set, 598 French companies deployed industrial robots between 2010 and 2015. The […]
11 The writer is a development and technology policy consultant. ONE of the first concepts taught in economics is the circular flow of income: workers sell their labour to producers and receive income in return, which then flows back to producers in return for finished goods and services. This foundation sustains the modern economy. But the quest for higher profits accelerates the breakdown of this relationship between capital and labour. In its worship of the bottom-line, capitalism aims to drive labour costs ever lower through technological progress.
Joblessness and increasing inequality erode purchasing power and break down […]
It’s certainly the case that low-skilled immigrants will not be employable in the coming automated economy when robots can perform simple tasks cheaply 24/7 with no coffee breaks.
But it’s also true that higher skilled persons won’t be needed in many fields as artificial intelligence (AI) develops more capability. Immigration in general should be dialed down severely with the automated future in mind. When technology experts say 30 to 40 million American jobs are at risk of being eliminated , we should pay attention even though the employment economy is quite healthy today.
Young people planning careers and middle-aged persons considering […]
oday employees work more productively than ever before. Let’s look at some of the emerging HR trends for 2020. The world of work has been changed drastically in the previous decade. So it’s no surprise that the role of HR has transformed too. Consider the impact of the 2008 recession and significant technological advances like internal social media networks that have changed how we work. Today employees work more productively than ever before.
2020 will be another big year for HR; HR will be influenced by new trends that may transform the sector. HR professionals need to keep an […]