Föhrenbergkreis Finanzwirtschaft

Unkonventionelle Lösungen für eine zukunftsfähige Gesellschaft

Posts Tagged ‘Automation’

Momentum Builds for Automation in Construction

Posted by hkarner - 4. Juli 2019

Date: 03-07-2019
Source: The Wall Street Journal

Goldman Sachs, venture investors pour money into startups to leverage technology

iMod Structures builds modular classrooms that can be moved around and whose interiors can be more easily changed.

Investors including Goldman Sachs Group Inc. are pouring money into construction startups, betting that the industry is on the verge of sweeping changes.

The money could jumpstart automation in a highly labor-intensive business that has been a rare source of well-paying blue-collar jobs over the past decade.

Venture investment in private construction-technology companies leaped to $6.1 billion in 2018, from $352.1 million in 2016, according to research company CREtech. With $4.3 billion invested as of late June, 2019 is on track to be another record year. Den Rest des Beitrags lesen »

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The Good Life After Work

Posted by hkarner - 18. April 2019

Robert Skidelsky, Professor Emeritus of Political Economy at Warwick University and a fellow of the British Academy in history and economics, is a member of the British House of Lords. The author of a three-volume biography of John Maynard Keynes, he began his political career in the Labour party, became the Conservative Party’s spokesman for Treasury affairs in the House of Lords, and was eventually forced out of the Conservative Party for his opposition to NATO’s intervention in Kosovo in 1999.

In order to manage the latest wave of automation, we must have ends that are more compelling than merely wanting more products and services. Without an intelligent definition of wellbeing, we will simply create more and more monsters that feed on our humanity.

LONDON – Almost all “robots are coming” stories follow a tried-and-true pattern. “Shop Direct puts 2,000 UK jobs at risk,” screams a typical headline. Then, quoting from authoritative reports from prestigious institutes and think tanks, the article in question usually alarms audiences with extravagant estimates of “jobs at risk” – that is, percentages of workers whose livelihoods are threatened by high-tech automation. To quote another representative example: “A new report suggests that the marriage of [artificial intelligence] and robotics could replace so many jobs that the era of mass employment could come to an end.”

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The ‘Hybrid’ Skills That Tomorrow’s Jobs Will Require

Posted by hkarner - 22. Januar 2019

Date: 21-01-2019
Source: The Wall Street Journal

Jobs that tap both technical and creative thinking will be likely to pay well—and resist automation

Jobs that require once-unrelated skills are forecast to grow faster than overall employment.

Left brain, meet right brain. Go forth and prosper.

That could be the new formula for a successful career.

Here’s why. The human brain, that extraordinary computer, is divided into two hemispheres, each responsible for different skill sets. The left brain is popularly associated with logic and analytic thought; the right, with intuition and creativity.

But many of the good jobs of the future, according to some employment experts, will require being good at using both sides of the brain.

To some extent, that future is already here. Jobs that tap both technical and creative thinking include mobile-app developers and bioinformaticians, and represent some of the fastest-growing and highest-paying occupations, according to a new report from Burning Glass Technologies, a labor-market analytics firm in Boston. Den Rest des Beitrags lesen »

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Inside the New Industrial Revolution

Posted by hkarner - 15. November 2018

Date: 12-11-2018
Source: The Wall Street Journal

The mobile internet, automation and AI will have profound implications. Here’s a closer look at how the old and new economies compare.

The first three industrial revolutions were driven by coal and steam, then electricity and the automobile, then computing. Now we may be witnessing the rise of the fourth: an economy powered by the mobile internet, automation and artificial intelligence.

That was the assessment of Klaus Schwab, founder of the World Economic Forum, who made the fourth industrial revolution the theme of his annual meeting in 2016.

Each of these earlier revolutions is easy to measure in hindsight—tons of steel produced, number of automobiles on the road, the proportion of homes with a PC. Since we’re just at the start of this latest transformation, we can only try to find clues to the future by looking at the trends of the past decade, with the rise of the smartphone, the Internet of Things and cloud computing.

In the two years since Prof. Schwab’s talk, those trends have gone into overdrive. The sudden ramp-up of technologies ranging from phone components to wireless networks to data centers points to a new kind of automation, more pervasive and smarter than ever before seen. It affects every industry, not just manufacturing, logistics or transportation, and is unique in the degree to which it is affecting white-collar as well as blue-collar workers. Den Rest des Beitrags lesen »

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The automation imperative

Posted by hkarner - 11. September 2018

Organizations in every region and industry are automating at least some business processes, yet only a slight majority have succeeded at meeting their targets, according to a new McKinsey Global Survey on the topic.1 As advances in artificial intelligence, software robotics, machine learning, and innovative technology platforms enable businesses to redefine processes, workplace automation is expected to provide a significant opportunity for improvements in performance and efficiency.2 Indeed, three-quarters of all respondents say their companies have already begun to automate business processes or plan to do so within the next year. The results also suggest which practices best support a successful automation effort: making automation a strategic priority, deploying technologies systematically, decentralizing governance, ensuring the IT function’s involvement, internalizing automation’s costs and benefits, and prioritizing workforce management.

Automation, a global phenomenon

Across regions and industries, the survey results suggest that automating businesses is a global phenomenon (Exhibit 1). A majority of all respondents (57 percent) say their organizations are at least piloting the automation of processes in one or more business units or functions. Another 38 percent say their organizations have not begun to automate business processes, but nearly half of them say their organizations plan to do so within the next year.3 Across regions, respondents in developing markets are just as likely as their peers to report automation activity. Den Rest des Beitrags lesen »

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‘The Future of Work’ and ‘Human + Machine’ Review: Reckoning With the Robots

Posted by hkarner - 26. Juni 2018

Date: 25-06-2018
Source: The Wall Street Journal

Automation rarely outright destroys jobs. It instead augments—taking over routine tasks while humans handle more complex ones. Oren Cass reviews “The Future of Work” by Darrell M. West and “Human + Machine” by Paul R. Daugherty and H. James Wilson.

‘The Future of Work’ and ‘Human + Machine’ Review: Reckoning With the Robots

Most Americans once survived hand to mouth, season to season. Technology (thankfully) destroyed their jobs. The result was not catastrophe but prosperity, because the dynamic lamented in modern parlance as “job destruction” is also called “productivity growth.” If farmers become 25% more productive, eight can grow a crop that previously required 10. The other two might still farm, yielding more or better food for the community. Or they might become barbers, allowing everyone to enjoy comparable food and the latest hairstyles.

The fear that superfluous workers might instead sit idle, reliant on support from their still-working neighbors, is a persistent one. Though such an outcome has never materialized, for prognosticators there is always a next time. In “The Future of Work,” Brookings Institution scholar Darrell West presents his version of a now-popular claim: that robotics and artificial intelligence really do make this time different.

Mr. West describes a future in which “older positions will be eliminated faster than new ones are created,” leaving “workers with few skills . . . unable to find jobs.” He warns of “social unrest” and the prospect of “dystopias that are chaotic, violent, and authoritarian in nature.” Accelerating technology requires us, he concludes, to “rethink the concept of work itself.” Den Rest des Beitrags lesen »

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The Fed Can’t Save Jobs From AI and Robots

Posted by hkarner - 12. Juni 2018

Date: 11-06-2018
Source: The Wall Street Journal By Martin Feldstein

The central bank’s employment mandate can’t be squared with coming tech disruption.

The day is coming, experts tell us, when artificial intelligence and robotics will massively disrupt the labor market. Autonomous vehicles will put 3.5 million truck drivers at risk of losing their jobs. Checkout machines may replace 3.4 million retail cashiers. That is only the beginning of the long list of jobs that will be destroyed by technological change.

The shift will not happen all at once, and most of the people who lose their jobs will eventually find new employment. The benefits of automation will include lower production costs, which will increase real incomes and job-creating consumer demand. But the technology will also cause individual hardship and frequent periods of increased unemployment.

These large supply shocks cannot be offset by monetary policy. They therefore will present the Federal Reserve with a new challenge. In 1978 Congress gave the Fed a “dual mandate” of price stability and maximum employment. This distinguishes the Fed from the world’s other major central banks. The European Central Bank, the Bank of England and the Bank of Japan, for example, are required to target only the rate of inflation (although they may informally pay attention to the level of employment). Den Rest des Beitrags lesen »

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Wenn der Roboter den Bankkunden hilft

Posted by hkarner - 26. Mai 2018

Bettina Pfluger, 25. Mai 2018, 12:00 derstandard.at

Roboter, künstliche Intelligenz und Livechat – wollen Banken am Ball bleiben und neue Zielgruppen erreichen, müssen sie mit der Zeit gehen

Stellen Sie sich vor, Sie gehen spätabends in ein Bankfoyer, um dort noch schnell Geldgeschäfte zu erledigen. Der Automat, den Sie bisher bedient haben, wurde neu designt und bietet nun mehr Services als früher. Sieht alles ein bisschen kompliziert aus. Jetzt heißt es: ja keinen Fehler machen, denn Personal, dem man jetzt noch Fragen stellen kann, ist keines mehr da. „In so einer Situation können Roboter den Mitarbeiter ersetzen“, sagt Martin Häring, Chief Marketing Officer (CMO) bei Finastra, einem Unternehmen für Finanzsoftware. Solche humanoiden Berater werden laut Häring die Mitarbeiter nicht bereits morgen ersetzt haben. Aber sie könnten außerhalb der Geschäftszeiten im Foyer stehen und dort für Hilfe sorgen. Dafür müssten sie nur noch stabiler werden, um gegen Vandalismus gefeit zu sein. Das alles kann in rund fünf Jahren so weit sein. „Die Roboter haben zudem eine Kamera in den Augen eingebaut mit Gesichts- und Mimikerkennung, daher könnten diese Roboter in einem geschützten Bereich im Foyer Kunden auch erkennen und ihnen ihren Kontostand sagen“, gibt Häring einen Einblick in die Bankwelt von morgen.

Digitale Bankenwelt

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SKILL SHIFT: AUTOMATION AND THE FUTURE OF THE WORKFORCE

Posted by hkarner - 25. Mai 2018

McKinsey Global Institute, May 2018

Automation and artificial intelligence (AI) are changing the nature of work. In this discussion paper, part of our ongoing research on the impact of technology on the economy, business, and society, we present new findings on the coming shifts in demand for workforce skills and how work is organized within companies, as people increasingly interact with machines in the workplace. We quantify time spent on 25 core workplace skills today and in the future for the United States and five European countries, with a particular focus on five sectors: banking and insurance, energy and mining, healthcare, manufacturing, and retail. Key findings:
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Automation will accelerate the shift in required workforce skills we have seen over the past 15 years. Our research finds that the strongest growth in demand will be for technological skills, the smallest category today, which will rise by 55 percent and by 2030 will represent 17 percent of hours worked, up from 11 percent in 2016. This surge will affect demand for basic digital skills as well as advanced technological skills such as programming. Demand for social and emotional skills such as leadership and managing others will rise by 24 percent, to 22 percent of hours worked. Demand for higher cognitive skills will grow moderately overall, but will rise sharply for some of these skills, especially creativity.
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Some skill categories will be less in demand. Basic cognitive skills, which include basic data input and processing, will decline by 15 percent, falling to 14 percent of hours worked from 18 percent. Demand for physical and manual skills, which include general equipment operation, will also drop, by 14 percent, but will remain the largest category of workforce skills in 2030 in many countries, accounting for 25 percent of the total hours worked. Skill shifts will play out differently across sectors. Healthcare, for example, will see a rising need for physical skills, even as demand for them declines in manufacturing and other sectors. Den Rest des Beitrags lesen »

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How the World’s Biggest Companies Are Fine-Tuning the Robot Revolution

Posted by hkarner - 15. Mai 2018

Date: 14-05-2018
Source: The Wall Street Journal By William Wilkes

Automation is leading to job growth in certain industries where machines take on repetitive tasks, freeing humans for more creative duties

ANSBACH, Germany—A few years ago, Roland Rösch’s job involved grabbing scalding-hot auto parts from an oven and inspecting them for signs they had failed a safety test.

These days he still inspects, but the grabbing is being done by Fritz, a robot that auto-parts manufacturer Robert Bosch GmbH installed three years ago at this German factory as part of an automation effort.

Fritz is more efficient at handling the dangerous and repetitive task of lifting the 8-inch metal-and-circuitry pieces out of the furnace. This leaves Mr. Rösch less exposed to potential accidents and gives him time to test 20% more parts than he did before the robots. Den Rest des Beitrags lesen »

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