Tag: Technology

Bad News: Automation Will Terminate Many Millennial Jobs

Bad News: Automation Will Terminate Many Millennial Jobs

Terminator Genisys Millennials supporting the minimum wage hike trends better rethink themselves, because a new report from Gallup shows that many of those entry-level jobs will be terminated by robots. No telling if they’ll be back. A Gallup study said that 37 percent of millennials are at “high risk” of being replaced by either artificial intelligence (AI) or automation. The news is slightly better at 32 percent for Generation X and Baby Boomers. The five percent divergence rate is because millennials lack work experience, where older generations are more likely to hold higher-ranking positions. The study said that only […]

The World’s Workers Have Bigger Problems Than a Robot Apocalypse

The World’s Workers Have Bigger Problems Than a Robot Apocalypse

The world’s workers seem to be in a bad spot: A recent study found that each new industrial robot displaces six employees. Automation is on the rise in fields from radiology to volleyball coaching . Workers in poorer manufacturing-reliant nations are especially vulnerable, it’s said, because their jobs could soon be done by robots. Yuval Noah Harari, author of the new book Homo Deus , speculates in a recent Bloomberg View column about the rise of a huge, embittered “useless class” living on the dole.

But if work is being automated out of existence, how do you explain a 2.8 […]

The changing business world completely passed me by

The changing business world completely passed me by

Workplace automation is advancing at an ever faster pace With the last few of years of my life spent running a barely-surviving business, I was so busy firefighting there was little time left over to register anything outside the company.

When I finally put my head up, I immediately saw the incredible number of modifications that had happened in virtually every area of our changing business world over the last decade – the world had been transforming fast, for both good and bad. It is already a dramatically different world than it was at the start of this millennium. Video […]

These College Students Are About To See How Robots Are Coming For Our Jobs

These College Students Are About To See How Robots Are Coming For Our Jobs

Much of the discourse about public education revolves around the idea of teaching kids “ 21st century skills ” and prepping them for the jobs of the future. Well, students at the University of Michigan, Ann Arbor, will soon get a personal look at the kind of technology that is likely to disrupt their post-graduation employment opportunities.

On Wednesday, the university announced that when students come back to campus in the fall, they’ll be able to ride automated shuttles around its North Campus. Instead of a shuttle with a human driver, students will ride on “two fully-automated, 15-passenger, all-electric shuttles,” […]

Disappearance of Work: QuickTake

Thirteen years ago, two prominent U.S. economists wrote that driverless cars couldn’t execute a left turn against oncoming traffic because too many factors were involved. Six years later, Google proved it could make fully autonomous cars, threatening the livelihoods of millions of truck and taxi drivers. Throughout much of the developed world, gainful employment is seen as almost a fundamental right. But what if, in the not-too-distant future, there won’t be enough jobs to go around? That’s what some economists think will happen as robots and artificial intelligence increasingly become capable of performing human tasks. Of course, past technological […]

New Bells and Whistles in Manufacturing Ring up Near Record Output

New Bells and Whistles in Manufacturing Ring up Near Record Output

Ignore the drumbeat for the need to rescue the U.S. manufacturing sector. Manufacturing is not dead; far from it. Manufacturing has long buttressed the U.S. economy in myriad ways, and it seems poised to continue.

What’s changed about manufacturing is not output, but employment. It’s true, the industry has lost millions of jobs, but manufacturing output has surged at the same time and is approaching record levels, according to data from the Federal Reserve Bank of St. Louis.

How does that happen? With thanks to automation, technology, 3D printing, artificial intelligence, the Internet of Things (IoT), and robotics. And yes, that […]

This Economic Model Organized Asia for Decades. Now It’s Broken

This Economic Model Organized Asia for Decades. Now It’s Broken

Thirty minutes by car into the scrubby desert outside Korla, in China’s remote Xinjiang region, a textile manufacturer owned by Jinsheng Group is building its latest factory complex. Inside the 16 billion-yuan ($2.4 billion) facility—a collection of stark white warehouses surrounded by an enormous expanse of pristine artificial grass—are rows of huge cotton spools, more than a million bright red and blue spindles, and almost no people. A few German engineers wander around, making sure the equipment runs at peak efficiency. This is the depopulated future of an industry that’s lifted millions of Asians out of poverty.

Jinsheng’s factory covers […]

7 In 10 Millennials Will Eventually Lose Their Jobs To Automation

7 In 10 Millennials Will Eventually Lose Their Jobs To Automation

woman and robot Millennials More Likely To Be Replaced By Automation Than Older Generations

According to new research from Gallup , 67% of millennials are likely to lose their jobs due to automation sometime in the future.

Breaking down the numbers: 37% of millennials have a high risk of losing their jobs, while an additional 30% are at medium risk.This is higher than the employment risk that their parents and grandparents face, as you can see in the chart below.Of course, this should not come as a surprise given that millennials are at the beginning of their working lives, […]

New Research Says Automation May Not Threaten Jobs After All

Contrary to dominant narratives, machines will not be coming for every human’s job anytime soon. In fact, automation may even have a positive effect on unemployment.

In recent years, practically everyone has become familiar with the narrative that automation in the workplace will cost more and more hardworking people their jobs . Indeed, according to a Pew poll , a sizeable majority of Americans are aware of and concerned by automation-based job loss, with 65% of respondents agreeing that robots and/or computers will either “definitely” or “probably” do much of the work currently done by humans in the next […]

One Stat Shows America’s Shift From Manufacturing Cars To Manufacturing Nerds

Todd Fisher hugs an R2-D2 robot near an empty chair for his late sister, actress Carrie Fisher. [Photo: DAVID MCNEW/AFP/Getty Images] The U.S. automobile manufacturing industry has taken a backseat to Silicon Valley, as the top three tech companies had almost the same revenues in 2014 as the Detroit’s Big Three did in 1990, according to a McKinsey Global Institute report.

The American automakers — General Motors, Ford, and Chrysler — needed 1.2 million people to produce revenues of $250 million. In contrast, the biggest corporations in Silicon Valley, the colloquial term for the region and people within the tech […]