Föhrenbergkreis Finanzwirtschaft

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Posts Tagged ‘MGI’

Labor Markets in the Age of Automation

Posted by hkarner - 8. Juni 2017

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Technology, jobs, and the future of work

Posted by hkarner - 27. Mai 2017

By James Manyika, McKinsey Global Institute, May 2017

Automation, digital platforms, and other innovations are changing the fundamental nature of work. Understanding these shifts can help policy makers, business leaders, and workers move forward.

The world of work is in a state of flux, which is causing considerable anxiety—and with good reason. There is growing polarization of labor-market opportunities between high- and low-skill jobs, unemployment and underemployment especially among young people, stagnating incomes for a large proportion of households, and income inequality. Migration and its effects on jobs has become a sensitive political issue in many advanced economies. And from Mumbai to Manchester, public debate rages about the future of work and whether there will be enough jobs to gainfully employ everyone.

The development of automation enabled by technologies including robotics and artificial intelligence brings the promise of higher productivity (and with productivity, economic growth), increased efficiencies, safety, and convenience. But these technologies also raise difficult questions about the broader impact of automation on jobs, skills, wages, and the nature of work itself. Den Rest des Beitrags lesen »

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Sorry, a Robot Is Not About to Replace Your Lawyer

Posted by hkarner - 20. März 2017

Date: 20-03-2017
Source: The New York Times

James Yoon, a partner at Wilson Sonsini Goodrich & Rosati in Palo Alto, Calif., says people are willing to pay for his experience. “What clients don’t want to pay for is any routine work.”

Impressive advances in artificial intelligence technology tailored for legal work have led some lawyers to worry that their profession may be Silicon Valley’s next victim.

But recent research and even the people working on the software meant to automate legal work say the adoption of A.I. in law firms will be a slow, task-by-task process. In other words, like it or not, a robot is not about to replace your lawyer. At least, not anytime soon.

“There is this popular view that if you can automate one piece of the work, the rest of the job is toast,” said Frank Levy, a labor economist at the Massachusetts Institute of Technology. “That’s just not true, or only rarely the case.”

An artificial intelligence technique called natural language processing has proved useful in scanning and predicting what documents will be relevant to a case, for example. Yet other lawyers’ tasks, like advising clients, writing legal briefs, negotiating and appearing in court, seem beyond the reach of computerization, for a while.

“Where the technology is going to be in three to five years is the really interesting question,” said Ben Allgrove, a partner at Baker McKenzie, a firm with 4,600 lawyers. “And the honest answer is we don’t know.”
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Trump’s Gift to China

Posted by hkarner - 10. März 2017

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Adapting to the New Globalization

Posted by hkarner - 10. Februar 2017

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Three New Predictions for Automation and Jobs

Posted by hkarner - 17. Januar 2017

Date: 17-01-2017
Source: The Wall Street Journal

Jobs will change, forcing workers to adapt and global productivity will rise

Robots factory CCAutomation could increase global productivity by 0.8% to 1.4% annually over the next 50 years, according to a new study.

As business and political leaders gather this week at the World Economic Forum in Davos, several new reports that shed light on automation and the future of work are being released at the event. For those staying home from Switzerland this year, here’s an overview of notable findings.

Despite claims that robots are coming for our jobs, only 5% of all occupations are at risk of being entirely automated, according to a new report from the McKinsey Global Institute.

Rather than disappearing, the report’s authors say, jobs will change dramatically, forcing workers to adapt. McKinsey’s analysis of 800 occupations and 2,000 job tasks predicts that half of workers’ current tasks could be automated by the year 2055 using technology that currently exists. Den Rest des Beitrags lesen »

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Robots Will Take Jobs, but Not as Fast as Some Fear, New Report Says

Posted by hkarner - 15. Januar 2017

Date: 13-01-2017
Source: The New York Times

Testing a manned, walking robot, Method-2, in Gunpo, South Korea, last month.

The robots are coming, but the march of automation will displace jobs more gradually than some alarming forecasts suggest.

A measured pace is likely because what is technically possible is only one factor in determining how quickly new technology is adopted, according to a new study by the McKinsey Global Institute. Other crucial ingredients include economics, labor markets, regulations and social attitudes.

The report, which was released Thursday, breaks jobs down by work tasks — more than 2,000 activities across 800 occupations, from stock clerk to company boss. The institute, the research arm of the consulting firm McKinsey & Company, concludes that many tasks can be automated and that most jobs have activities ripe for automation. But the near-term impact, the report says, will be to transform work more than to eliminate jobs.

Globally, the McKinsey researchers calculated that 49 percent of time spent on work activities could be automated with “currently demonstrated technology” either already in the marketplace or being developed in labs. That, the report says, translates into $15.8 trillion in wages and the equivalent of 1.1 billion workers worldwide. But only 5 percent of jobs can be entirely automated. Den Rest des Beitrags lesen »

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We Can’t Undo Globalization, But Can Improve It

Posted by hkarner - 12. Januar 2017

Enligthening! No „post truth“ story, but real! (hfk)

Date: 11-01-2017
Source: Harvard Business Review

Global flows of trade and investment add economic value, and dismantling systems that rely on globalization would reduce prosperity. “While the impulse to erect trade barriers is understandable given the pain experienced by workers in a range of industries and communities in recent years, it is not the way to create lasting growth and shared prosperity,” notes a Harvard Business Review article. “During the past decade, the United States was the world’s largest recipient of foreign direct investment, with nearly $2 trillion invested in a range of sectors, companies, and workers across the country.” Still, managers and politicians cannot ignore the costs of trade and globalization, and must support communities with transition. The authors recommend solutions: Job hunters should be willing to relocate. Companies should expand export and trade capability. Globalization is more digital in nature, and firms should explore opportunities. Retraining should be customized for fields and communities, and benefits should be portable across state lines. Expanding globalization’s opportunities, rather than limiting cross-border flows, would be the better approach to boosting prosperity. – YaleGlobal
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The Promise of Digital Finance

Posted by hkarner - 15. Dezember 2016

 

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The Evolving Independent Economy

Posted by hkarner - 9. November 2016

Photo of Laura Tyson

Laura Tyson, a former chair of the US President’s Council of Economic Advisers, is a professor at the Haas School of Business at the University of California, Berkeley, a senior adviser at the Rock Creek Group, and a member of the World Economic Forum Global Agenda Council on Gender Parity.

Photo of Jacques Bughin

Jacques Bughin is a director of the McKinsey Global Institute.

NOV 8, 2016 Project Syndicate

BERKELEY – Working full-time for a single employer is no longer the norm in advanced economies. Instead, millions of “independent workers” – self-employed, freelance, or temporary employees – sell their labor, services, and products through digital platforms to numerous employers or clients.

The growing share of independent work, which typically entails flexible hours, promises to bring significant aggregate economic gains, by raising labor-force participation rates, increasing the overall number of hours worked, and reducing unemployment. But the “gig economy” also creates complex new policy challenges in taxation, regulation, and access to social benefits and protections that traditionally have been provided through standard employer-employee relationships.

According to a McKinsey Global Institute study, up to 162 million people throughout the United States and the EU-15 are currently engaged in some form of independent work. Based on a representative online survey of 8,000 workers in six countries (including the US), McKinsey found that 10-15% of the working-age population relies on independent work for their primary income. Another 10-15% – including students, retirees, household caregivers, and those with traditional jobs – take on such work to supplement their income. Den Rest des Beitrags lesen »

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