oxford economics
The US economy seems strong after a year of Trump, but is it really?
What is the Insurrection Act? Why is the US Fed chair criminal probe causing alarm? Which 75 countries are on Trump's travel ban list? The US economy seems strong after a year of Trump, but is it really? Over the past year, United States President Donald Trump has unleashed a slew of policies that have upended businesses, supply chains and jobs.
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- Government > Regional Government > North America Government > United States Government (1.00)
- Banking & Finance > Economy (1.00)
How will Robots change the World?
Global forecasting and quantitative analysis firm have released a new report that predicts robotic machines will displace about 20 million manufacturing jobs across the world over the next decade. Robots are becoming more and more effective at performing tasks that were formerly relied upon individual hands. This robotic revolution has been propelled by technological advances in automation engineering, technology, energy storage, AI and machine learning. Already, the amount of robots in use globally multiplied three-fold over the previous two years, to 2.25 million. Trends imply the international inventory of robots will grow faster in the next 20 decades, reaching as many as 20 million by 2030, with 14 million in China alone.
Rise of the machines will displace 20 million workers, warns report
Up to 20 million manufacturing jobs could be lost to robots by 2030, according to a new report by Oxford Economics. The study found that robots will lead to twice as many manufacturing job losses in low-skill areas, thereby aggravating income inequality. The report, "How Robots Change the World", estimates that each new industrial robot eliminates 1.6 manufacturing jobs on average, and calls on governments to prepare with policies including better training and welfare programs, and a universal basic income. It suggests that in Australia, South Australia is most vulnerable to the future robot rollout. The state is Australia's most manufacturing intensive but has the slowest-growing economy and low levels of manufacturing productivity, the report argued.
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British employees are sabotaging workplace robots over fears the machines will take their jobs
UK workers are sabotaging and assaulting workplace robots in an attempt to stop them taking their jobs, finds study. But for some manual workers they have found their own ways of stopping the robots' rise to world domination - by confusing them. The study by De Montfort University in Leicester which looked into the use of robotics in healthcare concluded that UK workers are particularly apposed to the introduction of the intelligent machines into the work place. Compared to Norway where the study found co-working robots are often given affectionate names and welcomed. Jonathan Payne, Professor of Work, Employment and Skills, said: 'We heard stories of workers standing in the way of robots, and minor acts of sabotage - and not playing along with them.' Adding: 'The UK seems to have a problem with diffusion and take-up of technology.'
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- Europe > Norway (0.26)
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Robots could take 20 million manufacturing jobs by 2030
New York (CNN Business)Robots are getting better at doing human jobs. That's probably good for the economy -- but there are some serious downsides, too. Machines are expected to displace about 20 million manufacturing jobs across the world over the next decade, according to a report released Wednesday by Oxford Economics, a global forecasting and quantitative analysis firm. That means about 8.5% of the global manufacturing workforce could be displaced by robots. The report also notes that the move to robots tends to generate new jobs as fast as it automates them, however it could contribute to income inequality.
- Government > Regional Government > North America Government > United States Government (0.31)
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Automation And Robots Are Coming - How Likely Is Your Job To Survive?
Robots are growing and impacting the way society, economy and the world are organized. Areas with the lowest income, usually rural regions, are more vulnerable to the progress of automation. The permanent loss of jobs will be softened by new jobs that'll be created and demand new skills from people. Automation is likely to increase economic growth and boost productivity but it'll also increase inequality among the globe and drastically change it. When should we start preparing for these changes?
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Rapid robot rollout risks UK workers being left behind, reports say
British workers are being shut out of decisions over the rising use of robots in the UK economy, according to a report. According to the commission on workers and technology, run by the Fabian Society and the Community trade union, almost six in 10 employees across Britain in a poll said their employers did not give them a say on the use of new technologies. Risking a future where workers' jobs get worse and people's voices go unheard over changes in the workplace, the findings come as a separate report finds the use of robots in poorer regions triggers the loss of almost twice as many jobs as in wealthier ones. In a study by the consultancy firm Oxford Economics, the rapidly growing use of robots is expected to have a profound impact on jobs across the world, resulting in up to 20m manufacturing job losses by 2030. Around 1.7m manufacturing jobs have already been lost to robots since 2000, according to the study, including as many as 400,000 in Europe, 260,000 in the US and 550,000 in China.
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- Asia > China (0.26)
- Europe > United Kingdom > England > West Midlands (0.06)
- Europe > United Kingdom > England > Cumbria (0.06)
- Banking & Finance > Economy (0.76)
- Government > Regional Government > Europe Government > United Kingdom Government (0.37)
ASEAN's reskilling challenge: here's how we prepare for the future of work
The strength of ASEAN lies in its numbers. The biggest of those is its population. The 10-nation bloc is home to more than 630 million people, 94% of whom are literate and 50% under 30 years of age. Of those aged 30 and under, 90% have access to the internet. This young, educated, digitally connected base has helped to turn the region into an economic powerhouse, one with a combined GDP of US$2.4 trillion.
Almost Half of All Companies Have Deployed Machine Learning
If you're concerned (or super excited) about machine learning (ML) becoming mainstream, a recent survey by Oxford Economics on behalf of human resources (HR) and IT asset management company ServiceNow should pique your interest. The report, which surveyed 500 Chief Information Officers (CIOs) in 11 countries and across 25 industries, found that 49 percent of the companies are already using ML to improve traditional business processes. Of the 500 CIOs surveyed, 200 said they're already beyond the pilot stage and have begun deploying ML in some capacity. CIOs are hoping to limit user error and errors in judgement by introducing automation. Almost 70 percent of CIOs said decisions made by machines will be more accurate than those made by humans.