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Automation in sentence

460 examples of Automation in a sentence

And automation will make it easier to substitute machines for workers, likely undermining the low elasticity of labor demand with respect to the cost of hiring (adjusted to include turnover and training costs) that underlies the Card-Krueger-Krugman view.
One reason why automation is so frightening today is that the future was more unknowable in the past: we lacked the data for alarmist forecasts.
The more profound reason is that current automation prospects herald a future in which machines can plausibly replace humans in many spheres of work where it was thought that only we could do the job.
The MGI report rejects attempts to limit the scope and pace of automation, which would “curtail the contributions that these technologies make to business dynamism and economic growth.”
Finally, there is the assumption running through the report that automation is not just desirable, but irreversible.
The US is experiencing several positive economic trends: housing is recovering; shale gas and oil will reduce energy costs and boost competitiveness; job creation is improving; rising labor costs in Asia and the advent of robotics and automation are underpinning a manufacturing resurgence; and aggressive quantitative easing is helping both the real economy and financial markets.
A new MGI report finds that under a moderate scenario for the speed and breadth of automation, about 15% of the global workforce, or 400 million workers, could be displaced between now and 2030.
A faster pace of automation would trigger greater displacement.
But the new jobs will differ mightily from the jobs displaced by automation, imposing painful transition costs on workers, businesses, and communities.
Depending on the pace of automation, 75-375 million workers, or 3-14% of the global workforce, will need to change occupational categories by 2030.
In the United States and other developed economies where automation is likely to occur more rapidly, 9-32% of the workforce may need to change occupational categories and the skills associated with them.
According to one recent survey, the majority of Americans are concerned that automation will increase income inequality.
As many middle-wage occupations succumb to automation, income polarization in the US and other developed countries is likely to continue.
If workers displaced by automation are unable to find new jobs quickly, frictional unemployment will rise, putting downward pressure on wages.
So, what can be done to speed and ease the occupational transitions that automation will compel?
Policies to promote investment in infrastructure, housing, alternative energy, and care for the young and the aging can boost economic competitiveness and inclusive growth, while creating millions of jobs in occupations likely to be augmented, rather than displaced, by automation.
Like previous technologies, automation today promises major productivity gains, benefiting individuals, communities, and societies.
Shale oil and gas extraction costs have fallen in some locations by 60% as companies apply advanced data analytics and automation to improve success rates and cut drilling costs.
The legislation also prioritizes investment in physical and financial capital over what the US really needs: more investment in human capital and lifelong learning to help workers and communities cope with the disruptive effects of automation and artificial intelligence.
The job vacancy-to-applicant ratio now stands above parity, though it does remain low – even below 50% – in jobs such as clerical work, where automation is replacing workers and suppressing wages.
But it is all the more harmful at a moment when automation is taking over a growing number of roles.
Not only are the working-class white men of the South and Midwest defending their status and racial privileges; they are also fighting for their jobs in industries where automation and foreign trade have steadily eroded employment.
On the tradable side, automation and the shift of middle-range jobs (in terms of value added) to developing countries have caused employment growth to stall, while value added per person and average incomes have grown rapidly.
Likewise, automation will erode the number of currently well-paid jobs in the service sector.
But others consider such fears overblown, and predict that intelligent automation will lead to a utopia populated by intuitive machines.
If we harness this energy, we can create a world in which AI benefits humanity, and where automation frees people from the dangerous and repetitive tasks often associated with manual labor.
Robots will not become people’s officemates overnight; only a small percentage of current jobs are susceptible to full automation.
The jobs most prone to automation include routine activities like data collection and processing.
Some estimates show that companies could save as much as $4 trillion annually with AI automation.
And the benefits for businesses will go far beyond savings, as automation will spur innovation, improve forecasting, optimize operations, and lead to better customer service.
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