Tag: Technology

By 2030, 20 Million Workers Will Lose their Jobs to Robots

By 2030, 20 Million Workers Will Lose their Jobs to Robots

A new study from analysis firm Oxford Economics predicts that by 2030, over 20 million workers in the manufacturing industry will lose their jobs to robots.

At last nights Democratic Debate for the 2020 Nominee for President Andrew Yang presented his key signature plan of $ 1000 a month guaranteed income for every American. The reason for the automatic income for everyone is the rise of Robots. He argues that it’s going to happen very soon and we will NOT be able to replace those jobs replaced by robots. Thus we will need this income to make our economy […]

The Problem For Blue-Collar Workers Isn’t China, It’s Lousy Economic Recoveries

The Problem For Blue-Collar Workers Isn’t China, It’s Lousy Economic Recoveries

I think Brad DeLong makes a good point today. It’s true that we lost a lot of traditionally blue-collar-male jobs to China in the early aughts, but the trade deficits that crowded-out those jobs also had a mirror-image effect: Imports crowd-in traditionally-male blue-collar wholesale trade jobs, and finance traditionally-male blue-collar construction (and capital-goods manufacturing) jobs. If you look at all traditionally-male blue-collar jobs—wholesale, construction, manufacturing, and mining—what you get is not a story of the trade deficit, but rather a story of (a) macro shocks to aggregate demand, and (b) the long-run technology-and-preferences trend—some of which is automation…. [The […]

Blue collar jobs in telecom space will drop with evolving technologies: TSSC CEO

With evolving technologies and a growing demand for automation, jobs for uneducated will cease to exist in the telecom sector in the next 3-5 years, Telecom Sector Skill Council CEO S P Kochhar said Thursday.

"To employ uneducated in telecom sector will not be possible in 3-5 years. Blue collar jobs in the mobile tower space cannot be done away as of now but with 5G maturing demand for these jobs will drop," Kochhar said on sidelines of ‘Telecom Manthan 2019’ event.

He further said that tariff war doesn’t seem to be easing in the telecom sector and companies will look […]

Automation Should Be a Major 2020 Issue. Andrew Yang Failed to Put it On the Map

Automation Should Be a Major 2020 Issue. Andrew Yang Failed to Put it On the Map

It’s early yet, but automation is already on track to become the most ignored issue this campaign cycle—outpacing even the neglected climate change, which, while broached both nights of the first Democratic presidential debate this week, deserves a much larger share of the conversation . Corporate automation, and the mass job loss and degradation it portends, was the subject of just a single question in four hours of debate and mentioned by the candidates only twice.

This despite the fact that one of the candidates—the techie and former entrepreneur Andrew Yang— has built his entire campaign around the threat of […]

Robots to displace transport and manufacturing workers in vast numbers

Robots to displace transport and manufacturing workers in vast numbers

The numbers of robots in use around the world has tripled to 2.25 million over the last 20 years and is forecast to reach 20 million by 2030, according to consultants Oxford Economics . In its report “How robots change the world – what automation really means for jobs and productivity,” the consultancy is also forecasting millions of job losses. Trucking, shipping and ports will be affected – in fact, they already are.

While affirming that robots will boost productivity and create new jobs, Adrian Cooper, the CEO and Chief Economist of Oxford Economics, forecast that “existing business models across […]

How digital technology could redefine Canada’s economy

How digital technology could redefine Canada’s economy

With foresight, perhaps we can better understand the challenges and opportunities digital technologies present and play a role in shaping our futures.

Digital technologies are changing not only what happens in our economy, they are also changing its fundamental character. At this moment, a 3D printer is producing a human replacement organ using a digital model and the patient’s own cells. As you read this, iron ore is being extracted from a mine in Australia by autonomous machines supervised by a small crew of people more than a thousand kilometres away. While you slept last night, an architectural engineer […]

If there’s digital revolution happening, the Democratic presidential candidates seem mostly unaware

Plenty of American had probably never heard of Andrew Yang before last night’s Democratic presidential debate. Many were also probably unfamiliar with Yang’s big idea to pay a “ universal basic income ” to all Americans. And as he explained during the debate, “…this is the move we have to make particularly as technology is now automating away millions of American’s jobs.” REUTERS/Issei Kato Actually the automation threat is worse than that. Automation will affect something like, I dunno, 100% of jobs — at least in some way or another. Of course, this doesn’t necessarily mean mass unemployment. Just […]

Labor market impacts of digitalization and automation

Labor market impacts of digitalization and automation

Technological change will not lead to mass unemployment but to increasing inequality and labor market polarization

The past decades have been characterized by a tremendous rise in computing power, reducing the costs of automating so-called routine tasks which follow clear, explicit rules and can thus be put into computer code. This has led to a polarization of labor markets in advanced economies with declining shares of middle-paid, routine-intensive occupations and rising shares of both, high- and low-paid jobs.

While this computerization has not led to employment declines, the question whether this holds true for the effects of further technological advances […]

The Terminator Myth: It’s Not Robots That Hurt Workers

The Terminator Myth: It’s Not Robots That Hurt Workers

Education is the job-killer lurking beneath the economy’s surface. Consider an exemplary employer making major investments in training for each of his 100 workers, even covering tuition for those who might benefit from technical courses at a local college. Say the investments have incredible returns, too—by the end of the year, each worker is twice as productive and 50 can do the work that last year required 100. That means 50 jobs have been destroyed.

Does that sound nonsensical? It should. Yet change “education” to “automation” or “technology” and you have the conventional wisdom that countless economists and politicians are […]

What does automation mean for our ongoing gender inequality?

What does automation mean for our ongoing gender inequality?

Recent trends and the broader history of technological change indicate that automation will usher in major shifts in labor markets over the next decade, displacing millions of workers but also creating millions of new jobs that require new skills.

The McKinsey Global Institute, having documented these changes for several years, has produced a new report examining how automation might affect men and women differently.

A key conclusion of the study is that persistent gender disparities in the workplace, as documented in a previous MGI report, will make it more difficult for women than for men to adapt to the coming changes […]