The bright side of the robo-pocalypse

For LinkedIn's latest collaboration with the World Economic Forum, we looked at artificial intelligence (AI) skills and their association with human capital transformation. https://lnkd.in/gkKT_Dd Technological change is often associated with obsolescence of the old capital stock and its replacement by new investment. And that should be true for human capital, not just the physical sort. Our data shows that this hypothesis does, in fact, appear to be true. Growth in penetration of an industry by AI skills - a potential proxy for cutting-edge technological change - have a positive association with the pace of within-industry occupation-level change in the skill composition of human capital. That said, this also shows that aside from a few industries, that cutting-edge technology hasn't yet made much headway into the global economy. And not surprisingly, despite breathless talk of massive transformational change, most jobs really haven't changed that much. This is consistent with a broad of economic data indicating that productivity growth has been excruciatingly slow in recent years. Many thanks to my colleagues Di Mo and Mariano Mamertino for their work on this.

Read more eCommerce News at : https://lnkd.in/eyRBn3r Robots in workplace 'could create double the jobs they destroy' - Rise of machines could lead to 133m jobs globally in next decade – WEF report The rise of machines, robots and algorithms in the workplace stands to create almost double the number of jobs for the global economy by the middle of the next decade than it puts at risk of being replaced. According to the World Economic Forum (WEF), about 133m jobs globally could be crea...

Robotics investment by industry

Artificial intelligence and machine learning are transforming the manufacturing industry. According to a report released late last year by the World Economic Forum, the combination of artificial intelligence, advanced robots, additive manufacturing and the internet of things (IoT) will combine to usher in the fourth industrial revolution. From predictive maintenance to digital twins, artificial intelligence is ushering in the next manufacturing revolution — if not for shortages of skills, data, and standards. #manufacturing #AI #iot #predictivemaintenance #robotics #Industry40 #DigitalTwins #AdditiveManufacturing

Tomorrow the World Economic Forum will publish a study "The Future of Jobs" that says, today 71% of the working hours is performed by people, by 2025 people will only perform 48% of the working hours, the majority of working hours will be performed by machines and algorithms. For a company, you need to think about automation. Full stop. Automation in your manufacturing process and process automation in the rest of your organization. From robotics in your manufacturing to prediction models that help you in decision-making processes, to finding the right information, to taking care of your accounting, to interacting with customers in a personal way via bot. AI rightly is the buzzword these days. But because you can't take an AI use case and plug-and-play it into your company, you need to design and customize it for your company. We need to design AI solutions. That is done by starting with people and their needs, and with a company's unique processes and products. The second reason for design in AI: When we read that report we rightly ask ethical questions. Therefore it's necessary to have a human-centered design approach from the beginning. #artificialintelligence #machinelearning #design #business #automation #aidesignsprint