California City May ‘Experiment’ with UBI

 

 

Sitting in between the enormous economic opportunities of the San Francisco Bay and Silicon Valley, yet unable to break free of its largely agriculturally based economy, the City of Stockton, Calf., is now planning to “experiment” with Universal Basic Income.” The city went bankrupt just five years ago. Continue reading

Automatic Job Storm Coming

 

Almost every weekday, some arm of the US government issues some sort of economic statistic. News media and financial analysts review and report it. Then 99.9% of the adult population, and probably 90% of the financial industry, forget all about it. And they’re probably right to do so.

The monthly jobs report isn’t like that. Yes, any single month doesn’t tell us much. Yes, the Labor Department’s methodology has some flaws, both major and minor. But imperfect as it is, the jobs report is our best look at the economy’s pulse. Jobs matter in a visceral way to almost all of us, as you know well if you’ve ever lost one. Almost any survey that asked questions around employment would reveal the angst that many Americans feel about the possibility of losing their jobs.

Right now, automation tops the list of things that might threaten our jobs. Artificial intelligence and robotics technology are rapidly learning to do what human workers do, but better, faster, and cheaper. Continue reading

Robots Are Coming for Jobs of as Many as 800 Million Worldwide

 

As many as 800 million workers worldwide may lose their jobs to robots and automation by 2030, equivalent to more than a fifth of today’s global labor force.

That’s according to a new report covering 46 nations and more than 800 occupations by the research arm of McKinsey & Co. Continue reading

The Rise of Robots Continues in the Workplace

Robots, automation, and artificial intelligence are creeping into every segment of the workforce—from utilitarian roles such as manufacturing to the absurd, like this robot Buddhist monk in Japan—but human ingenuity can still win out in the end.

 

As automation makes more and more human jobs obsolete, one economist says ingenuity may still trump artificial intelligence in the long run.

That economist said:

“Since the dawn of the industrial age, a recurrent fear has been that technological change will spawn mass unemployment. Neoclassical economists predicted that this would not happen, because people would find other jobs, albeit possibly after a long period of painful adjustment. By and large, that prediction has proven to be correct.” Continue reading

China’s Robot Revolution May Affect the Global Economy

 

Automation impact on wages isn’t showing in the data – yet

China is installing more robots than any other nation, and that may affect every other nation.

Shipments jumped 27 percent to about 90,000 units last year, a single-country record and almost a third of the global total, and will nearly double to 160,000 in 2019, the International Federation of Robotics estimates. Continue reading

Robots poised to take over wide range of military jobs

Henrik Christensen, director of UC San Diego’s Contextual Robotics Institute. (K.C. Alfred / Union-Tribune)

 

The wave of automation that swept away tens of thousands of American manufacturing and office jobs during the past two decades is now washing over the armed forces, putting both rear-echelon and front-line positions in jeopardy.

“Just as in the civilian economy, automation will likely have a big impact on military organizations in logistics and manufacturing,” said Michael Horowitz, a University of Pennsylvania professor and one of the globe’s foremost experts on weaponized robots.

“The U.S. military is very likely to pursue forms of automation that reduce ‘back-office’ costs over time, as well as remove soldiers from non-combat deployments where they might face risk from adversaries on fluid battlefields, such as in transportation.” Continue reading

Rich and powerful warn robots are coming for your jobs

https://i0.wp.com/www.trunews.com/wp-content/uploads/2015/07/150714_pepper_robot_lg.jpg

 

Some of the richest, smartest and most powerful humans have an important message for the rest of us as they convened this week to discuss pressing global issues: the robots are coming.

“Most of the benefits we see from automation is about higher quality and fewer errors, but in many cases it does reduce labor,” Michael Chui, a partner at the McKinsey Global Institute, said on Tuesday during a panel on “Is Any Job Truly Safe?”

Continue reading

China’s robot army set to surge

China’s uptake of industrial robots is set to rise rapidly in the coming years as higher labour costs and the heightened aspirations of workers push manufacturers to embrace automation.

The development may add to fears that workers in poorer countries are most in danger of being displaced by automation, with analysis by Citi and the Oxford Martin School, a research and policy unit of the UK university, published earlier this year suggesting that more than 75 per cent of jobs in China are at a “high risk” of computerisation. Continue reading