The automation myth: Robots aren't taking your jobs- and that's the problem - Deepstash

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The automation myth: Robots aren't taking your jobs- and that's the problem

https://www.vox.com/2015/7/27/9038829/automation-myth

vox.com

The automation myth: Robots aren't taking your jobs- and that's the problem
President Obama has warned that ATMs and airport check-in kiosks are contributing to high unemployment. Sen. Marco Rubio said that the central challenge of our times is "to ensure that the rise of the machines is not the fall of the worker."

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The Automation Myth

The Automation Myth

For decades, we have believed that automation and huge leaps in technology will take away most of our jobs and there will be widespread unemployment.

A new study shows that this belief is incorrect. Job growth and living standards have continued to rise on an average scale.

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Hours worked vs Income

Hours worked vs Income

The average working hours have declined only 6 percent, while income has increased at a decent rate per year.

The economy has actually grown even after automation, due to the addition of workers.

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The Solow Paradox

The Solow Paradox

The Solow Paradox suggests that automation and computerization aren't taking our jobs, but are adding to our overall workload, taking away our leisure time.

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Usefulness of Technology

Usefulness of Technology

Smartphones and the internet haven't provided a sharp increase in productivity, as compared to the other revolutionary inventions like Television, Air-conditioning or Jet Planes.

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SIMILAR ARTICLES & IDEAS:

An Uncertain Future

  • The past decade gave rise to the 'Gig' economy, spawning one-click app-based transactions.
  • Artificial Intelligence and automation are further transforming how people live and work.

Future Proof Your Career

Future-proofing your career to stay relevant isn't about learning how to code or going back to college.

It is about having a career plan with a long-term vision, taking into account the current job-market conditions, economic factors, emerging opportunities, personal interests, and family realities.

Shrinking Life Cycle of Jobs

A life cycle of a job is shrinking rapidly, and if you're not re-inventing yourself or pivoting on time, you are rendered out of work sooner than in the past decades.

We need to check our career plan and ask ourselves what skills need to be developed to pursue future opportunities, in this shifting economy.

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Two of the biggest innovations

Two of the biggest innovations

Two of the biggest innovations of modern times are cars and airplanes. At first, every new invention looks like a toy. It takes decades for people to realise the potential of it.

Innovation is driven by incentives

There are three types of incentives:

  1. "If I don't figure this out, I might get fired." It will get you moving.
  2. "If I figure this out, I might help people and make a lot of money." It will produce creativity.
  3. "If we don't figure this out now, our very existence is threatened." Militaries deal with this, and it will fuel the most incredible problem-solving and innovation in a short time.

During World War II, there was a burst of scientific progress that took place. The government was in effect saying that if a discovery had any possible war value, then it had to be developed and put in use, regardless of the expense.

The conditions for big innovations to happen

The biggest innovations seldom happen when everyone's happy or safe. They happen when people are a little panicked and worried, and when they have to act quickly.

In 1932, the stock market fell by 89%. It was an economic disaster where almost a quarter of Americans were out of work. However, the 1930s was also the most productive and technologically progressive decade in history. Economist Alex Field writes that in 1941, the U.S. economy produced almost 40 percent more output than it had in 1929, with little increase in labor hours or private-sector capital input.

What counts as a robot

When we're talking about robots taking people's jobs, we're speaking of automation.

Mechanical automation, like car assembly lines, has been around for a while.

Software autom...

How automation will affect jobs

Low-skill jobs, where 70% of the responsibilities are predictable physical and cognitive tasks, are straightforward to automate, especially as automation technology becomes cheaper than paying a human to do the same job.

  • Outside an office environment: The jobs that will be affected are things like retail employees and warehouse workers.
  • Inside an office: Jobs vulnerable to automation are data entry, filing, and document review.

Work that is difficult to automate

Complex tasks that require creativity and other forms of higher-order thinking are very difficult to automate. The reason is that you need cognitive technology like AI (artificial intelligence) and automation together. At this point, AI is still limited.