Tag: Technology

Asia’s Workers Will Benefit from New Technologies, but Government Action is also Needed

Asia’s Workers Will Benefit from New Technologies, but Government Action is also Needed

Technological advances have transformed the two billion worker Asian labor market, helping create 30 million jobs annually in industry and services over the last 25 years, drive increases in productivity and wages, and reduce poverty, says a new report by the Asian Development Bank (ADB).

New research on how technology affects jobs, the subject of the special theme chapter in the Asian Development Outlook (ADO) 2018 report, points out that while some of the region’s jobs will be eliminated through automation, countervailing forces will more than compensate against job losses. ADO is ADB’s flagship economic publication.

“ADB’s latest research shows that, […]

Automation and the future of work – understanding the numbers

Automation and the future of work – understanding the numbers

In 2013, we published a paper entitled “The Future of Employment: How Susceptible Are Jobs to Computerisation?” , estimating that 47% of U.S. jobs are at risk of automation.

Since then, numerous studies have emerged, arriving at very different conclusions. In particular, one study published by a group of researchers at the University of Mannheim suggests that only 9% of jobs are exposed to automation. And more recently, a study by the OECD suggests that it is actually 14%, with a further “32% of jobs have a risk of between 50 and 70% pointing to the possibility of significant change […]

What Do You Suggest for the Post-Employment Economy?

What Do You Suggest for the Post-Employment Economy?

Let’s go ahead and say this guy is overstating the case. If it’s even close to what he projects, then how do we deal with this as a society? It is no longer in question whether all jobs will be automated, the head of the Institute for New Economic Thinking said Tuesday. The real question rests in when that automation will occur and which sectors of society will be affected sooner than others.

“Today, it would be possible to automate 50% of all work activities, and by about 2060, we’ll definitely be capable in physical possibility have reached a […]

ANALYSIS: How technology will change your job

ANALYSIS: How technology will change your job

If you are now employed as a medical transcriptionist in an IT company, perhaps it’s time you started learning other work skills that will prepare you for a new job. Medical transcription is one of low-skill occupations that will soon be phased out, a new study says.

New technologies in industries that will spur future economic growth across Asia, including the Philippines, are likely to generate high-skill jobs but there will also be many workers that will be pushed aside, according to the just released Asian Development Bank (ADB) study.

For instance, the business process outsourcing (BPO) industry in the Philippines, […]

What does automation mean for Asia’s job prospects?

What does automation mean for Asia's job prospects?

The panel during the launch of the Asian Development Bank Outlook flagship report. Photo by: ADB MANILA — Almost every industry talks about the potential of automation to boost productivity and cut down on production costs. But the new technologies spurring these incentives, such as robotics, are also posing threats — not just for unemployment, but also in widening the gap in worker opportunities and income inequality. Click here to see a larger version of the chart. Developing Asia’s industry and services sectors have generated about 30 million jobs annually over the past 25 years, according to the Asian […]

Technology and future of real estate practice

SIR: Global outlook generally is that 21st century is going to be driven largely by technological changes. Nobody ever thought 20 years ago for instance that someday there will be something called electric and chargeable cars that will suddenly eliminate the use of fuel and driver. The world is fast changing and very rapidly for that matter; the old order is fast crumbling and new ones are equally emerging fast.

Across the world, companies, organizations and even governments respond to the rapidly evolving technology by creating new business and operating models for unmanned aerial vehicles, otherwise known as Drones which […]

ADB study: government action needed to ensure Asia’s workforce benefit from new technologies

ADB study: government action needed to ensure Asia’s workforce benefit from new technologies

Credit: Asian Development Bank To ensure that everyone can benefit from new technologies, policymakers will need to pursue education reforms that promote lifelong learning, maintain labour market flexibility, strengthen social protection systems, and reduce income inequality,

The Asian Development Bank (ADB) issued its latest report yesterday on the impact of technological advances on labour markets in Asia.

New research on how technology affects jobs, the subject of the special theme chapter in the ADB’s flagship economic publication, Asian Development Outlook (ADO) 2018 report, points out that while some of the region’s jobs will be eliminated through automation, countervailing forces will more […]

ADB Raises Asia Growth Rate, Warns of Trade Tension Risks

ADB Raises Asia Growth Rate, Warns of Trade Tension Risks

While some companies have developed robots that can sew clothes, the high cost of these machines means that many garment makers still prefer to expand their workforce in countries such as Bangladesh (picture), Ethiopia and Vietnam. T he Asian Development Bank raised its 2018 economic growth estimate for developing Asia to 6% from 5.8%, citing solid export demand, but said US protectionist measures and any retaliation against them could undermine trade.

Growth in developing Asia would only ease slightly to 5.9% in 2019, the bank said in its 2018 Asian Development Outlook released on Wednesday. Strong external and domestic demand […]

Do androids dream of electric sheep? Or why I’m not scared of robot lawyers

Do androids dream of electric sheep? Or why I'm not scared of robot lawyers

The 1982 Sci-Fi classic Blade Runner tells the complicated story set in 2019 of cyborgs with artificial intelligence who were largely indistinguishable from humans.

The test that Harrison Ford’s character, Rick Deckard, administered was aimed at distinguishing these “replicants” from humans based on their emotional response.

While very few lawyers get compared to a Harrison Ford character, such a storyline reminds us there are fundamental differences between the emotional capacity of lawyers and computer-based intelligence.Australian law firms are currently investing millions of dollars in AI-based document automation, contract reviews and even solutions for clients. There is no doubt this improves productivity […]

How Automation Is Changing the Manufacturing Workforce

How Automation Is Changing the Manufacturing Workforce

From the cute waste-collector WALL-E to the terrifying Terminator, films seem to portray robots similarly — overthrowing humanity. In reality, robots are rapidly appearing in manufacturing facilities, but are they taking over?

Manufacturers employ robots to meet customer demand, as they can quickly and efficiently complete tasks to increase productivity and help companies remain competitive. With these benefits, more and more manufacturers are introducing robotics to the assembly line. In fact, North American companies purchased 32 percent more robots in 2017 than in the same period in 2016. As manufacturers increase their dependence on technology, the human workforce will need […]