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Posts Tagged ‘MGI’

Embracing the New Age of Automation

Posted by hkarner - 17. Januar 2018

Christopher Pissarides

Christopher Pissarides, a Nobel laureate in economics, is Professor of Economics at the London School of Economics.

Jacques Bughin

Jacques Bughin is a director of the McKinsey Global Institute and a senior partner at McKinsey & Company.

With rapid advances in automation and artificial intelligence in recent years, many are worried about a jobless future and sky-high levels of inequality. But the large-scale technologically driven shift currently underway should be welcomed, and its adverse effects should be managed with proactive policies to reinvest in workers.

LONDON – Ever since early-nineteenth-century textile workers destroyed the mechanical looms that threatened their livelihoods, debates over automation have conjured gloom-and-doom scenarios about the future of work. With another era of automation upon us, how nervous about the future of our own livelihoods should we be?

A recent report by the McKinsey Global Institute estimates that, depending on a country’s level of development, advances in automation will require 3-14% of workers worldwide to change occupations or upgrade their skills by the year 2030. Already, about 10% of all jobs in Europe have disappeared since 1990 during the first wave of routine-based technological change. And with advances in artificial intelligence (AI), which affects a broader range of tasks, that share could double in the coming years.

Historically, job displacement has occurred in waves, first with the structural shift from agriculture to manufacturing, and then with the move from manufacturing to services. But throughout that process, productivity gains have been reinvested to create new innovations, jobs, and industries, driving economic growth as older, less productive jobs are replaced with more advanced occupations. Den Rest des Beitrags lesen »

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Rage Against the Machine?

Posted by hkarner - 9. Dezember 2017

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.

Susan Lund is a partner of McKinsey & Company and a leader at the McKinsey Global Institute.

Almost every aspect of our economies will be transformed by automation in the coming years. But history and economic theory suggest that fears about technological unemployment, a term coined by John Maynard Keynes nearly a century ago, are misplaced.

BERKELEY – Intelligent machines are transforming the way we produce, work, learn, and live throughout the world. Almost every aspect of our economies will be radically altered. Den Rest des Beitrags lesen »

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Digital China – Study from McKinsey Global Institute

Posted by hkarner - 5. Dezember 2017

China, already a global force in digital technologies, is set to experience huge shifts in revenue and profits as businesses digitize, boosting the economy’s international competitiveness.

China has become a force to be reckoned with in digital technologies at home and around the world. As a major worldwide investor in digital technologies and one of the world’s leading adopters of the technologies, it is already shaping the global digital landscape and supporting and inspiring entrepreneurship far beyond its own borders. Den Rest des Beitrags lesen »

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Forget Robots: Bad Public Policies Could Be Bigger Job Killers

Posted by hkarner - 30. November 2017

Date: 29-11-2017
Source: The Wall Street Journal

Study stresses need for businesses, governments to prudently manage disruption created by automation

Automation could be a huge boon to the world’s workers—but only if governments and businesses prudently manage the disruption it creates.

As many as 375 million workers around the world will need to find new occupations or lose their livelihood to automation by 2030, the McKinsey Global Institute estimates in a new report. It isn’t impossible for up to 14% of the global workforce to retrain and refocus, but it requires planning and the investment of will and resources, says Susan Lund, a principal at the Institute.

“‘Will there be enough jobs?’ is not the right question,” she says. “The question is, what are we going to do to manage the transition for people who do lose their jobs?” The choices that policy makers and business leaders make about how to support displaced workers, invest in education and training, and fund job-creating projects in areas such as infrastructure and energy will all affect the labor market, she says. Den Rest des Beitrags lesen »

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Jobs Lost, Jobs Gained

Posted by hkarner - 29. November 2017

Absolutely essential to understand ! (hfk)

Automation is not a new phenomenon, and fears about its transformation of the workplace and effects on employment date back centuries, even before the Industrial Revolution in the 18th and 19th centuries. In the 1960s, US President Lyndon Johnson empaneled a “National Commission on Technology, Automation, and Economic Progress.” Among its conclusions was “the basic fact that technology destroys jobs, but not work.”* Fast forward and rapid recent advances in automation technologies, including artificial intelligence, autonomous systems, and robotics are now raising the fears anew—and with new urgency.

In our January 2017 report on automation, A future that works: Automation, employment, and productivity, we analyzed the automation potential of the global economy, the timelines over which the phenomenon could play out, and the powerful productivity boost that
automation adoption could deliver. Den Rest des Beitrags lesen »

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German Economy Seeks a Tech Upgrade

Posted by hkarner - 29. November 2017

The IMD Study: https://www.imd.org/wcc/world-competitiveness-center-rankings/world-digital-competitiveness-rankings-2017/

Date: 28-11-2017
Source: The Wall Street Journal

In collapse of coalition talks, political friction extends to how to modernize nation

BERLIN—When Christian Lindner stormed out of negotiations to form a new German government in Berlin this month, he pointed to what he said were 237 policy issues on which the four parties at the table had failed to agree after more than a month.

But the reason the exasperated leader of the small pro-business Free Democratic Party said he broke off coalition talks wasn’t in the details; it was “a lack of agreement on how to modernize” Germany.

Mr. Lindner’s exit—which triggered a political crisis without precedent since the war—highlighted a concern hidden behind the outward health of the German economy: Many economists think it is suffering from a modernization deficit. Den Rest des Beitrags lesen »

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China’s Renewable-Energy Revolution

Posted by hkarner - 22. August 2017

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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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